Aflac pays $75M for Argus
Aflac Inc. (NYSE: AFL) completed its $75 million acquisition of Argus Holdings LLC and its subsidiary Argus Dental & Vision Inc., a Tampa-based benefits organization and national network dental and vision company. Aflac, a supplemental insurer based in Columbus, Georgia, also agreed to to pay an additional $21 million over three years, based on achieving performance targets, the company said in a regulatory filing. Argus will continue under the leadership of its founder and CEO, Dr. Nicholas Kavouklis, according to a news release. Tampa will serve as the home for the Aflac U.S. Network Dental and Vision platform. The deal is expected to provide opportunities for sales growth, improved account penetration and distribution productivity, Aflac said.