Alight Solutions to grow its health navigation capabilities through the acquisition of Compass Professional Health Services
DALLAS and LINCOLNSHIRE, Ill., June 13, 2018 /PRNewswire/ -- Alight Solutions, a leader in technology-enabled health, wealth, HR and finance solutions, today announced it has entered into a definitive agreement to acquire Compass Professional Health Services, a health care technology company providing advocacy and network optimization services to more than 1,700 companies and more than 2 million members in the U.S. The transaction is expected to be completed during the third quarter, subject to customary closing conditions.
"Alight has a longstanding commitment to supporting people in the moments that matter, and those times are often connected to their health or the health of a loved one," explained Chris Michalak, CEO of Alight Solutions. "After evaluating the market, it was clear that bringing together Compass' best-in-class, intuitive technology and health care experts with Alight's industry-leading benefits administration platform, enrollment expertise and award-winning employee experience solutions will allow us to help people navigate the complex and costly health care environment when they need it most. These combined capabilities will continue to help Alight redefine the health care landscape for our clients and their people."
Compass' more than 250 dedicated health and technology experts deliver a unique, high-tech and high-touch navigation solution. Through access to personal Health Pros, smart recommendations, and in-the-moment benefits guidance, the Compass solution empowers people to make simpler, smarter health care decisions that lower health care costs and improve care.
"We are thrilled to join an organization with a focus on its clients and their people that so closely aligns to Compass' mission of redefining health care," said Adam Johnson, president of Compass. "Becoming part of Alight will allow us to continue to champion simpler and smarter health care in a more impactful way as we draw on Alight's health care expertise and scale. We look forward to an exciting future together."
Adam Johnson will lead Compass, reporting to Jason Herr, executive vice president of health solutions at Alight. Compass will become a fully integrated part of Alight's Health and Wealth Solutions business, led by Michael Sigmund.
Financial terms were not disclosed. Stephens Inc. served as the exclusive financial advisor to Compass in the transaction.
About Alight Solutions
As a leading provider of benefits administration and cloud-based HR and financial solutions, we enhance work and life through our service, technology and data. Our dedicated colleagues across 14 global centers deliver an unrivaled consumer experience for our clients and their people. We are Alight. Reimagining how people and organizations thrive.
About Compass Professional Health Services
Compass Professional Health Services is a healthcare technology and consulting company that helps employers and their employees navigate the complicated and costly healthcare landscape. Since 2005, the Compass healthcare navigation platform has created the premier health benefits experience for more than 2,000 companies and 2 million members, nationwide. Through an unmatched combination of smart technology and the friendly guidance of Health Pro® consultants, Compass simplifies healthcare and helps employees make simpler, smarter healthcare decisions that lower healthcare costs and improve care. To learn more, visit www.compassphs.com.
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SOURCE Alight Solutions