Nashville-based benefits brokerage and human resources software company Bernard Health has offloaded two of its four subsidiaries.
Illinois-based insurance giant Arthur J. Gallagher & Co. announced Monday that it had acquired health and employee benefits brokerage firm Bernard Benefits and health insurance advising service Bernard Healthcare Financial Planning. Two companies remain subsidiaries of Bernard – payroll software BerniePortal and backend HR support platform Alpine, a spokesperson confirmed to the Post.
Terms of the acquisition and an expected closing date were not disclosed.
Bernard spokesperson Sarah Weinstein said the company had two distinct segments, brokerage and software, with founder Alex Tolbert leading the software side and his brother Brian Tolbert leading the brokerage side.
“Gallagher’s acquisition of the brokerage business was a natural step and positive development for all stakeholders,” Weinstein said in an email. “For the remaining software business, the company will be focused on the continued growth and success
