Progressive Medical acquired by Progressive Enterprises

Progressive Medical, Inc., a Westerville, Ohio-based pharmacy benefit manager and ancillary services provider, has been acquired by Progressive Enterprises, a newly formed holding company for several insurance services businesses owned by affiliates of funds managed by Stone Point Capital and Fiserv, Inc.
Following the transaction, David Bianconi, the founder of Progressive Medical, will continue in his role as Chairman of the company and will retain a significant ownership stake in the business.
According to Mr. Bianconi, with the additional resources from the investment of Progressive Enterprises, the company will deliver innovative cost management services and products to the workers’ compensation and auto no-fault industries.
Founded in 1986,  Progressive Medical has invested more than 20 years of experience in developing innovative pharmacy management and ancillary solutions, which are deisgned to enable its clients to manage costs while providing quality care to injured parties.

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