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Press Release
Editorial Contact:
Cynthia Chow
925-242-4600
Aon To Acquire Valley Oak Systems
State-of-the-art RMIS addition
CHICAGO, 20 December 2006 - Aon today announced it has entered into a letter of
intent agreement to acquire Valley Oak Systems of San Ramon, California. Aon expects
to consummate the transaction by January 31, 2007.
Valley Oak Systems (VOS) is the proven leader of claims management software,
services and support for the insurance industry. Its iVOS "one-system" solution
includes medical bill review, policy underwriting, case management, billing, and event
management capabilities.
VOS will integrate and share data seamlessly with RiskConsole, Aon's state-of-the-art
RMIS solution, creating the only end-to-end browser-based offering in the global market.
The acquisition of VOS follows the successful integration of Risk Laboratories, LLC
(RiskLabs) in 2004.
"We selected Valley Oak Systems because of their exceptional reputation in the market,
their dedication to serving clients, and the high caliber of talent within their
organization," says Greg Case, Aon president and chief executive officer. "By
combining our strengths, we will create a comprehensive risk management information
system offering that will have no peer in the marketplace."
Randy Wheeler, founder and chief executive officer of Valley Oak Systems, says,
"During the last few years, we've experienced tremendous growth in all aspects of our
business. With Aon, we'll continue this strong growth and provide more comprehensive
products and services to our clients. Since both of our products are native to the
Internet, we'll create the only end-to-end browser-based insurance solution in the global
marketplace."
eSolutions' Managing Director, Kathy Burns, says, "With the addition of Valley Oak
Systems, Aon will be able to equip its risk professionals with cutting-edge claims
administration tools, enabling them to provide the highest level of service and deliver
distinctive client value."
About Valley Oak Systems, Inc.
Founded in 1994, Valley Oak Systems has a history of providing high quality software that has enabled its clients to
achieve outstanding claims management performance. Due to its client-focused approach, Valley Oak Systems has
established itself as an industry leader, and its iVOS claims system has been recognized for its business impact with
the 2006 IASA Technology Achievement Award.
News from Aon
industry leader, and its iVOS claims system has been recognized for its business impact
with the 2006 IASA Technology Achievement Award.
About Aon
Aon Corporation (www.aon.com) is a leading provider of risk management services,
insurance and reinsurance brokerage, human capital and management consulting, and
specialty insurance underwriting. Aon has 45,000 employees in 500 offices in more than
120 countries. Backed by broad resources, industry knowledge and technical expertise,
Aon professionals help a wide range of clients develop effective risk management and
workforce productivity solutions.
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Kevin Confetti