Soundpath Health sale
The Office of the Insurance Commissioner received a request from one of the two owners of Soundpath Health.
Physicians of Southwest Washington (PSW) is proposing to acquire additional common shares of Soundpath Health, and proposes that PSW will remain as one of the controlling entities and majority owner of common shares of Soundpath Health.
History of the process
We received the application for sale in April 2012. We are currently reviewing that application.
What we look at
In all proposed sales, the companies must file an application (Form A) that details:
- Financial information for both companies.
- Who will operate the company at the highest levels.
- Their business plan.
- Market competition impacts.
Under state law, the commissioner must approve the deal unless:
- It would substantially lessen competition or create a monopoly.
- The buyer’s plans are unfair and unreasonable to the policyholders of the insurance company.
- The buyer isn't competent, honest or financially sound enough to run an insurance company.
- It is in some other way “hazardous or prejudicial to the insurance-buying public."