WEX, a financial technology service provider, has signed a definitive agreement to acquire benefitexpress.
WEX says the acquisition broadens its integrated benefits products and accelerates its growth strategy and strategic vision. benefitexpress offers highly configurable, cloud-based benefits administration technologies and services.
The deal adds a complementary suite of solutions to WEX’s health offerings, including employee enrollment and decision support tools for employees, benefits administration and value-added services, such as Patient Protection and Affordable Care Act (ACA) compliance, dependent verification services and other benefit administration services.
benefitexpress has been a trusted partner of WEX’s health division for several years, the firms say.
“The acquisition of benefitexpress accelerates our strategic vision of offering a complete health care ecosystem with a highly complementary benefits administration platform at its core,” says Robert Deshaies, president of WEX’s health division. “We are excited to welcome the benefitexpress team to the WEX family and look forward to delivering increased value to employers, consumers and partners through a comprehensive and integrated suite of products, services and technologies.”
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