Memfis, Tenn., 20 February 2025 / Prnewswire/ -sedgwick, a leading global provider for management of requests, regulation of business losses and solutions activated by technology and Botomline, a global leader in business payments and cash management, have signed an agreement with which Sedgwick will receive the legal expenses of the Bottomline Industry Management Division (LSM). Business Services LSM Business LSM Property and Coincidence (P&C) Insurance Industry, providing carriers, third party administrators (TPA), self-insured entities and corporate legal departments with cloud-based software applications and supplementary review solutions of legal bills.
Sedgwick will use modern and highly scaled Botomline LSM infrastructure, including its Legal-X and Legal Exchange Web platforms to help clients control the cost of litigation. In anticipation of the closure of the transaction, which is subject to customary conditions and regulatory approval, Sedgwick plans to operate the LSM business as a separate division.
“Bottomline’s LSM business is a strong adaptation for Sedgwick, and bringing these solutions home will enable us to better help customers in making decisions from data on their judicial management,” said Jim RyanMain Operating Officer in Sedgwick. “This transaction sets out a new standard of Sedgwick excellence, positioning us as partner of incomparable claims for organizations around the world. Integrating the industry leadership expertise in reviewing the legal bill of third parties in our existing skills, We will exalt the value that we bring to meet the developing needs of our clients and their clients. “
Adding solutions to the revision of legal invoices from end to end to Sedgwick Services menu will benefit especially from company victims’ customers who will enjoy simplified electronic billing services, issues management, reporting, analytics and services of seller management.
“Combining the leading properties of the Sedgwick industry and the victim’s requests management services with the LSM legal bill review solutions will vary for customers,” said Craig SaksDirector General of the end line. “This transaction allows Botomline to double our focus on business payments and cash management while providing a great home for our LSM colleagues and customers. We are excited to look at them in a new chapter of growth
for LSM “.
Sedgwick envisions the passage of approximately 300 LSM colleagues to ensure that customers receive the highest quality service from the experts they know and believe.
Morgan Stanley & Co. LLC and Bofa securities served as Financial Advisors and Simpson, Thatcher & Bartlett LLP served as a legal adviser to Sedgwick regarding this transaction. Deutsche Bank Securities Inc. served as a financial advisor and Kyrkland & Ellis LLP served as a legal adviser for the end.
About sedgwick
Sedgwick is a leading global provider for managing requests, regulating losses and business solutions activated by technology. The company provides a wide range of resources adapted for specific customer needs in victims, property, marine, benefits, brand protection and other lines. In Sedgwick, care counts; Through the dedication and expertise of over 33,000 colleagues in 80 countries, the company takes care of people and organizations by facilitating and reducing risks and losses, promoting health and productivity, protecting brand reputation and containing costs that can affect performance. The shareholder of most of Sedgwick is the Carlyle group; Stone Point Capital LLC, Altas Partners, CDPQ, Onex and other management investors are shareholders. For more, see sedgwick.com.
Around the bottom line
Bottomline helps businesses transform the way they pay for them and be paid. A global leader in business payments and cash management, secure, inclusive solutions of Botomline modernize payments for businesses and financial institutions globally. With over 35 years of experience, moving more than 16 trillion dollars At payments each year, Botomline is committed to running influential results for customers by reimagating business payments and offering solutions that ultimately add. Bottomline is a portfolio company of Thoma Bravoone of the world’s largest software capital firms in the world, with more than $ 166 billion in assets under management. For more information, visit bottomline.com.
Bottomline and end line logo are trademarks or registered brands of Bottomline Technologies, Inc.
SEEDGWIC source claims management services, Inc.