Company delivers on people-first philosophy with first of-its-kind ESOP in the case management services industry.
Minneapolis, Minn.: Stubbe & Associates today announced the sale of its company to its employees via an ESOP structure. This new structure marks an innovative approach within the case management services industry sector, empowering employees to carry forward the vision, mission and values that drove the 35-year old company to grow to more than 225 dedicated case management team members serving over 170 customers in 44 states across the country.
“We have always prided ourselves on hiring talented employees to provide high quality case management services that focus on getting injured workers the care they need to safely and successfully get back to work,” commented Nicky Stubbe, RN, MDiv., CDMS, QRC, Co-owner Stubbe & Associates. “Transitioning the company to the people who helped build it is a natural evolution that serves our employees and customers well and positions the company for long-term, sustainable growth.”
“The ESOP structure offers unique advantages,” said Jim Stubbe BS, MDiv. Co-owner Stubbe & Associates. “In general, ESOPs outperform conventional companies because employees are more invested in their company’s success and business outcomes. Stubbe will continue to be led with a long-term, partner-focused approach to growth versus managing to short-term shareholder value. We are very pleased to bring these advantages to Stubbe employees and clients, and to the industry in general.”
Under the new structure, the following key changes will take place:
- Effective Nov 30, 2021 the company will transition to an ESOP structure, with employees owning 100% of the company.
- A new CEO, Benjamin “BJ” Brenna, DPT, SCS, FACHE, will assume oversight of the company effective December 20, 2021.
- Nicky and Jim Stubbe will continue to serve on the Board of Directors.
- The company introduces a new company name, Stubbe Case Management, and company logo to signify its evolution.
About Stubbe Case Management:
Stubbe & Associates provides complete case management services, delivered by highly-trained and experienced case managers who are skilled at handling severe, complex medical conditions. Services include medical, vocational and forensic services ranging from Telephonic Case Management, Labor Market Surveys, Vocational Assessments, and Return To Work coordination. The company has a proven record of successful recoveries and has obtained URAC accreditation and SOC certification from the AICPA.