Principal Financial Group, a provider of dental benefits, has entered into a definitive agreement with Southland Benefit Solutions to acquire DentaNet.
DentaNet is the largest dental network in Alabama, with about 1,500 dental providers, according to a March 3 news release from Principal.
As part of the agreement, Principal will obtain renewal rights for a block of group insurance contracts through Canopy Insurance.
Southland Benefit Solutions and Canopy Insurance are subsidiaries of Collateral Holdings.
Principal serves more than 60,000 employer dental plans, providing coverage to nearly 2.8 million individuals, the release said.
Financial terms of the transaction were not disclosed.
