May 19, 2005 CareWorks acquires CRA Managed Care - Central Ohio's largest managed care organization has acquired a smaller competitor.

By Tony Goins Business First of Columbus

Dublin-based CareWorks said Thursday it has acquired CRA Managed Care Inc, which are based in Columbus. Both companies operate managed care health plans for Ohioans receiving benefits from the Ohio Bureau of Workers' Compensation.

The bureau approved the merger and is working with the company to notify affected customers. CareWorks said the transition shouldn't inconvenience customers.

Both companies can learn from each others' strengths, William Pfeiffer, CareWorks' president and CEO, said in a press release.

With CRA's 7,483 customers, the combined company will provide benefits to workers from 117,000 companies. CRA employed about 30 workers, and CareWorks hired 21. CareWorks employs around 700.

CRA's parent company, Concentra Operating Corp. of Addison, Texas, has been working to reorganize its managed care operations. Concentra's managed care operations have reported declining revenue, according to Concentra's first-quarter earnings statement.

CareWorks was Central Ohio's largest BWC managed care organization in 2004, according to Business First research, and CRA ranked No. 7. CareWorks did not disclose the purchase price for CRA.

CareWorks includes three other divisions in addition to its workers' compensation practice: A vocational rehabilitation division, a prescription drug discount program and an information technology consulting firm. © 2005 American City Business Journals Inc.