According to a press release , the terms of the deal were not disclosed, but the transaction is expected to close by the end of 2007, subject to regulatory approval.
The acquisition of SafeGuard is expected to add over 1.8 million additional members to MetLife ‘ s customer base, according to the press release. MetLife, through its subsidiaries, administers dental benefits for nearly 21 million people.
“SafeGuard ‘ s stellar reputation in the communities it serves, as shown by its progressive growth over the last 30 years, makes it an ideal addition to the MetLife family. The quality of its dental health maintenance organization (DHMO) complements MetLife ‘ s leading dental offerings and our entire product portfolio in those states where DHMOs are popular, “ said Bill Mullaney, president, MetLife Institutional Business, in the press release.
For more information about Safeguard visit www.safeguard.net .