DAYTONA BEACH, Fla., July 18, 2018 (GLOBE NEWSWIRE) -- J. Scott Penny, Chief Acquisitions Officer of Brown & Brown, Inc. (NYSE:BRO), and Greg Rucinski, the founder of Tricast, today announced that a subsidiary of Brown & Brown, Inc., has acquired certain assets of Tricast Holdings, LLC; Tricast, LLC; and PRx Advisors, LLC d/b/a PSRx Advisors (collectively, “Tricast”).
A licensed pharmacist, Greg Rucinski founded Tricast in 1997. Tricast specializes in providing pharmacy benefit management (PBM) consulting and services to customers throughout the United States, including pricing audits, rebate audits, prescription drug event audits, rejected claims analysis, Medicare eligibility audits, request for proposal (RFP) services for PBM selection, and contract renegotiation services. Tricast has annual revenues of approximately $2.5 million. Following the acquisition, the Tricast team will continue doing business from its existing Milwaukee, Wisconsin office, but will operate as part of Brown & Brown’s existing IPC/EvergreenRx business located in O’Fallon, Missouri. Christine Johnston will continue to lead the existing O’Fallon Missouri location, and the combined offices will operate under the leadership of Mr. Rucinski under the new brand, “PillarRx Consulting.”
P. Barrett Brown, a Regional President in Brown & Brown’s Retail Division, who will have oversight responsibility for the PillarRx Consulting operations, stated, “Over the years, Tricast has developed innovative pharmacy benefit oversight and analytic solutions that we believe will further strengthen Brown & Brown’s existing employee benefits platform. From an operational standpoint, we believe the combination with Tricast will enable us to serve our new and existing clients more efficiently, as well as offer a broader and deeper range of services. Greg and his team bring invaluable experience and relationships in the pharmacy consulting industry, and we are excited they’ve chosen to join Brown & Brown.”
Mr. Rucinski stated, “Joining Brown & Brown is an exciting and genuine opportunity to create real synergy in the marketplace. This new combined operation brings a creative and multidisciplinary approach to providing pharmacy benefit best practice.”
Brown & Brown, Inc., through its subsidiaries, offers a broad range of insurance products and related services. Additionally, certain Brown & Brown subsidiaries offer a variety of risk management, third-party administration, and other services. Serving business, public entity, individual, trade and professional association clients nationwide, Brown & Brown is ranked by Business Insurance as the United States’ sixth largest independent insurance intermediary. Brown & Brown’s Web address is www.bbinsurance.com.
