USClaims is pleased to announce that it has been acquired by Florida-based specialty finance company DRB Financial Solutions, LLC, a move that will enable USClaims to assist more customers than ever before.
Existing USClaims customers will notice few changes. Company founder Darryl Levine will continue as president of USClaims and all employees will be retained, ensuring that the funding team at USClaims remains as strong as ever.
The acquisition comes after years of vetting the right financial partner that would allow USClaims to offer assistance to more customers, Levine said.
“In the end, DRB was absolutely the best choice for us. The company has strong financial backing and smart leadership that we know will be a benefit to everyone here at USClaims, especially our customers,” Levine said. “We are excited that we can continue to grow and assist more people while offering some of the best terms in the industry.”
James Terlizzi, Executive Chairman of DRB, said of the acquisition, “We are extremely excited to bring one of the most trusted and experienced litigation funding companies to the DRB Financial family. The combined enterprise will be able to leverage USClaims’ depth of knowledge and deep roots in the legal community with DRB’s exceptional access to capital markets and rapidly growing specialty factoring platform. Our combined customer base will truly benefit from the many synergies of this acquisition.”
Founded in 1996, USClaims is the longest continuously operating pre-settlement funding company in the United States. The company offers cash advances to assist people injured in accidents with life necessities by purchasing a portion of the anticipated proceeds of their claim. USClaims recovers its investment only if a case is successfully resolved. USClaims has been voted the No. 1 Litigation Funding Provider by readers of the National Law Journal, an American Lawyer Media publication, in the publication’s “Best of 2014” survey.
About USClaims: USClaims provides non-recourse financial support to personal injury victims some of whom may have suffered catastrophic injuries from defective products, unsafe premises, motor vehicle accidents, and other types of accidents. USClaims supports injured plaintiffs and their attorneys by purchasing a portion of the anticipated recovery, thereby providing the injured plaintiff the means to pay bills and endure the often long and arduous litigation process. USClaims is a longtime member of the industry trade group the American Legal Finance Association (ALFA), and Mr. Levine is a member of its executive committee.
About DRB Financial Solutions, LLC: DRB Financial is a leading purchaser of structured settlement and annuity payments and other types of receivables through its DRB Capital (www.drbcapital.com) and USClaims brands. DRB offers liquidity and optionality to individuals in need of cash who have guaranteed or life contingent structured settlements, annuities or pending personal injury claims.