February 11, 2013 08:00 ET

Purchase of SSDC Services Corp. by SaltHoldings Corp.

NOVI, MI--(Marketwire - Feb 11, 2013) - SaltHoldings Corp. acquired SSDC Services Corp., a national leader in Medicare Management and Social Security Disability Advocacy. SSDC provides services to public and private employers, trusts, insurers and individuals. SaltHoldings was formed by a group of well-capitalized investors, including successful industry leaders in a number of areas, to purchase SSDC from Assurant Employee Benefits. 

SSDC will now operate as an independent, privately owned corporation. 

Craig Horton, president of SSDC for the past 10 years under Assurant Employee Benefits, part of Assurant, Inc., and now CEO of SSDC, said, "The move to independent status is important, as it allows for significantly increased investment and focus on product development and growth in all areas of our business."

"I'm thrilled to have the opportunity to work again with my long time colleagues and two of the most innovative leaders in the managed benefits industry, Richard Lewis and Michael Neal," he added. 

Lewis is joining SSDC as its chairman and Neal is joining SSDC as the chief operating officer. Both Lewis and Neal were most recently principals at LCG Holdings, LLC, an integrated managed disability company, which was purchased by Hewitt in 2008.

"Medicare and Social Security Disability Insurance are among the most valuable benefits available that individuals have earned through their working lives," added Mr. Lewis. "By assisting and guiding employers, trusts and individuals through complex rules and processes, we have been able to provide significant long-term cost savings to benefit plan sponsors and secure health insurance and income for individuals. I am looking forward to expanding our services to many more plan sponsors and individuals."

SSDC has been providing disability advocacy and Medicare services since 1979, serving hundreds of thousands of individuals and many of the top Fortune 500 Corporations during that time. With the sale finalized on December 31, 2012, SSDC Services Corp. will continue to operate from its offices in Novi, Michigan while providing services in all 50 states. 

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