Cobalt Ventures Acquires MEDVAL

NASHVILLE, Tennessee (April 2016) — Bailey Southwell & Co., LLC (BSC) is pleased to announce the completion of the asset sale of MEDVAL, LLC (MEDVAL), an innovative provider of industry-leading Medicare Secondary Payer (MSP) compliance services to the workers’ compensation and liability insurance markets, to Cobalt Ventures, LLC (Cobalt), the for-profit holding company of Blue Cross and Blue Shield of Kansas City that offers a comprehensive range of products to easily and cost-effectively address the needs of employers and employees. Financial terms were not disclosed.

BSC acted as the exclusive strategic and financial advisor to MEDVAL.

MEDVAL was the first firm in the nation to offer a fully integrated, single source solution for the Medicare Set-Aside (MSA) process from the initial MSA evaluation to the administration of the MSA funds and is known for its experienced team that combines workers’ compensation, Medicare, and claims adjusting experience with legal and medical practice knowledge to provide a level of MSP compliance expertise unequaled in the industry. With this acquisition, Cobalt expands the suite of services offered by its subsidiaries and enters the MSP compliance industry through an industry thought leader currently experiencing an impressive growth trajectory.

“Bailey Southwell delivered exactly what every selling business owner covets – a smooth process resulting in a sale at a premium valuation to a buyer with the resources to fuel future growth,” said Ryan Roth, CEO of MEDVAL. “I was impressed with the transaction expertise and industry knowledge of the Bailey Southwell team.”

About Bailey Southwell & Co., LLC

Bailey Southwell & Co., founded in 2005, is a privately held investment bank with offices in Nashville, Tennessee and St. Louis, Missouri. BSC provides mergers and acquisition and capital raising advisory services to middle market companies. More information about BSC can be found at www.baileysouthwell.com.

About MEDVAL, LLC

MEDVAL was the first firm in the nation to deliver a fully integrated MSA solution. MEDVAL provides pre-settlement and post-settlement services for high-exposure workers’ compensation and liability claims that require Medicare’s interests to be protected pursuant to the Medicare Secondary Payer Act. MEDVAL maintains three fully staffed production offices in Columbia, Maryland; Pittsburgh, Pennsylvania; and Laguna Hills, California. More information about MEDVAL can be found at www.medval.com.

About Cobalt Ventures, LLC

Cobalt Ventures, a wholly owned subsidiary of Blue Cross and Blue Shield of Kansas City, offers a wide range of innovative solutions to strengthen existing healthcare services. Cobalt embraces fresh ideas, delivers flexible solutions, and develops key partnerships that open the door to incredibly beneficial opportunities. More information about Cobalt can be found at www.bluekc.com/about/affiliates.