Alight Solutions, a leader in technology-enabled health, wealth and human capital management and financial solutions, today announced it has entered into a definitive agreement to acquire Hodges-Mace, a leading provider of employee benefits technology, voluntary benefits and custom enrollment services. The transaction is subject to customary closing conditions.
Founded in 2004, Hodges-Mace delivers industry-leading health benefits administration technology and services to more than 500 U.S. employers and over 1.2 million active, benefit-eligible employees. Its SmartBen® technology platform enables employees to enroll in, shop for and manage their core and voluntary benefits. In addition, Hodges-Mace works with employers and brokers to provide white-glove benefits enrollment services, including one-to-one advisory sessions during important events, like annual enrollment and new hire onboarding.
“Alight has been deliberate about creating an integrated health experience that enables employees to access health coverage, navigate complexity and focus on their wellbeing, while also improving overall affordability,” said Chris Michalak, CEO, Alight Solutions. “Through our Compass Healthcare Navigation solutions, Smart-Choice reimbursement accounts and the latest addition of Hodges-Mace, we will be able to bring Alight’s industry-leading capabilities to an even broader set of employers to help their people make better healthcare decisions to get the most out of their benefits.”
With the addition of Hodges-Mace’s highly configurable technology and high-touch enrollment services, Alight will now be able to meet the needs of employers of nearly any size and level of complexity, including employers smaller than what Alight has traditionally served. In addition, Hodges-Mace’s partnerships with consultants, brokers and carriers will strengthen Alight’s reach into the growing health and voluntary benefits technology and services market.
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“We’re thrilled to join forces with Alight and bring new solutions and market opportunities to our clients and partners,” said Greg Hodges, Co-CEO of Hodges-Mace. “Alight’s healthcare solutions will allow us to expand our capabilities and further our efforts to help employers deliver impactful benefits programs, while providing their people with the resources they need to be better healthcare consumers. We couldn’t be more excited to bring these shared capabilities to the market.”
Greg Hodges and Peter Mace, co-founders and co-CEOs of Hodges-Mace, will continue to lead the organization, and Kevin Andrews, president and chief technology officer, and Ron Shah, chief financial and operations officer will remain in key roles once the transaction closes.
Financial terms of the transaction were not disclosed. William Blair served as the exclusive financial advisor to Hodges-Mace in the transaction, and Shearman & Sterling LLP served as legal advisors. Kirkland & Ellis LLP served as legal advisors to Alight.
Date: July 08, 2019
Source: Alight Solutions