The Lynchburg-based company provides occupational medicine and employer health services. The two businesses said the acquisition allows them to better support the community by providing a broader suite of healthcare programs, delivered more efficiently. HealthWorks offers a wide array of health-related services to employers. They include occupational medicine, wellness, and employee assistance programs, physical therapy and industrial rehabilitation, as well as onsite clinics.
- Over time, Piedmont will provide some of the same community-focused programs to its members. That will broaden the company’s health and wellness offerings, increase its competitiveness in the health insurance industry, and support future growth, according to CEO Richard Tugman.
- HealthWorks will gain new markets and the opportunity to expand its business. And both companies will be able to leverage each other’s products, skills, and resources. Piedmont is wholly owned by the Centra Healthcare System.
- HealthWorks previously was a wholly-owned subsidiary of Centra Health. With the acquisition, that ownership transfers to Piedmont. There will be no changes to programs, services, policies, or staff.
- Tugman said Piedmont’s Board of Directors approved the deal. Centra agreed to the transfer of ownership. Piedmont has a workforce of close to 100 in the Lynchburg area, while HealthWorks employs about 30 people.
- Piedmont provides health insurance programs to businesses and individuals in Central Virginia and beyond. It plays an important role in the region by delivering competitively priced healthcare coverage and by helping to control healthcare costs while offering generally superior reimbursement rates to the area’s medical service providers.