NEW YORK & CHARLESTON, SC–(Organization WIRE)–Jan 24, 2023–
Voya Fiscal, Inc. (NYSE: VOYA), a leading wellbeing, prosperity and investment decision corporation, announced today that it has completed its acquisition of Benefitfocus, Inc., an market-foremost positive aspects administration technology firm that serves businesses, wellness options and brokers.
As a consequence of the acquisition, Voya now serves the office gains and savings desires of around 38 million persons, or approximately one in 10 Us citizens. The acquisition, which was introduced on Nov. 1, 2022, improves Voya’s providing of built-in wellness and prosperity answers and capabilities for intermediaries, employers and workforce.
“The acquisition of Benefitfocus accelerates Voya’s tactic in health and fitness and prosperity solutions, incorporating broad-primarily based advantages administration capabilities that extend our access across workplace advantages and price savings,” explained Heather Lavallee, CEO, Voya Economic, Inc. “More specially, this transaction expands Voya’s skill to supply progressive remedies for companies and health and fitness designs, and aids enhance the money, physical, and psychological wellbeing of their staff members and users. At the identical time, Voya’s technological know-how assets, electronic abilities, and operational knowledge will increase great price to Benefitfocus.”
“At Benefitfocus, we are dedicated to supporting corporations and the people they serve get the most out of their overall health and benefit investments,” said Matt Levin, president and CEO, Benefitfocus. “We are thrilled to be joining forces with Voya to build on our extraordinary development and speed up our effect for businesses, partners and overall health strategies.”
“This acquisition makes it possible for us to raise our capabilities and insights for the advantage of our consumers, although deepening the power and breadth of our distribution attain,” claimed Rob Grubka, CEO, Workplace Remedies, Voya Economic, Inc. “Benefitfocus’ capabilities and know-how permits us to far better provide clients and deepen partnerships with other added benefits administration suppliers and distribution associates as we build greater integrated ordeals for customers across their workplace advantages.”
Voya strategies to more explore the strategic and money advantages of this transaction for the duration of its fourth-quarter and total-12 months 2022 earnings call on Wednesday, Feb. 8, 2023.
Perella Weinberg Partners LP served as monetary advisor, and Cleary Gottlieb Steen & Hamilton LLP served as lawful counsel to Voya in relationship with this transaction. Barclays served as economic advisor, and Sullivan & Cromwell LLP served as authorized counsel to Benefitfocus.
About Voya Money ®
Voya Money, Inc. (NYSE: VOYA), is a leading health, prosperity and financial commitment company that offers goods, remedies and technologies that help a better economic potential for its customers, customers and culture. Serving the demands of 14.3 million specific, office and institutional purchasers, Voya has close to 6,000 staff and experienced $711 billion in overall belongings underneath administration and administration as of September 30, 2022. Qualified as a “Great Area to Work” by the Fantastic Put to Work® Institute, Voya is objective-driven and equally committed to conducting organization in a way that is socially, environmentally, economically and ethically accountable. Voya has acquired recognition as: just one of the World’s Most Ethical Companies® by the Ethisphere Institute a member of the Bloomberg Gender-Equality Index and a “Best Place to Get the job done for Disability Inclusion” on the Disability Equality Index. For extra information and facts, take a look at voya.com. Abide by Voya Economic on Fb, LinkedIn and Twitter @Voya.
At Benefitfocus, a Voya Economical organization, our mission is very simple: To enhance lives with advantages. We are dedicated to encouraging businesses, and the persons they provide, get the most out of their health treatment and benefit applications. By fantastic support and impressive benefits administration technological innovation we assist simplify the complexity of advantages and produce an encounter that engages people for better health and enhanced outcomes. Find out much more at www.benefitfocus.com, LinkedIn, Facebook, Instagram and Twitter.
Ahead-Wanting and Other Cautionary Statements
This push launch incorporates ahead-looking statements in just the which means of the Private Securities Litigation Reform Act of 1995. Voya does not suppose any obligation to revise or update these statements to mirror new info, subsequent situations or alterations in tactic. Forward-seeking statements include things like statements relating to long run developments in our business enterprise or expectations for our upcoming financial performance and any assertion not involving a historic actuality. Forward-wanting statements use words and phrases these types of as “anticipate,” “believe,” “estimate,” “expect,” “intend,” “plan,” and other words and phrases and conditions of equivalent meaning in link with a discussion of long run working or money performance. Genuine success, general performance or activities may possibly differ materially from those projected in any ahead-seeking assertion owing to, among the other points, (i) general economic disorders, especially economic conditions in our core markets, (ii) functionality of money markets, (iii) the frequency and severity of insured decline situations, (iv) the outcomes of organic or gentleman-created disasters, which includes pandemic gatherings and cyber terrorism or cyber assaults and particularly the present-day COVID-19 pandemic occasion, (v) mortality and morbidity amounts, (vi) persistency and lapse degrees, (vii) desire fees, (viii) currency trade prices, (ix) common competitive factors, (x) modifications in legal guidelines and regulations, these as people relating to Federal taxation, state insurance plan laws and NAIC restrictions and pointers, (xi) alterations in the guidelines of governments and/or regulatory authorities, (xii) our skill to efficiently manage the separation of our personal daily life company on the predicted timeline and economic terms, (xiii) our capacity to notice the predicted fiscal and other benefits from the transaction with Allianz World wide Traders, (xiv) our skill to understand the expected economic and other added benefits of the transaction with Benefitfocus and (xv) this sort of other components as are established forth in Voya’s periodic public filings with the U.S. Securities and Exchange Fee (the “SEC”), such as but not confined to those described in the “Risk Variables,” “Management’s Dialogue and Investigation of Success of Functions and Economic Condition (“MD&A”) – Tendencies and Uncertainties” and “Forward Searching Statements” sections of its Yearly Report on Variety 10-K, Quarterly Studies on Sort 10-Q and in other documents filed from time to time with the SEC, as applicable, all of which are out there at www.sec.gov.
VOYA-IR VOYA-CF VOYA-RET VOYA-EB
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Supply: Voya Fiscal, Inc.
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PUB: 01/24/2023 08:30 AM/DISC: 01/24/2023 08:32 AM