Evolution1 rebrands itself as 'WEX Health'
File Photo / Tim Greenway
Melissa Smith, WEX president and CEO, with Stephen Crowley, senior vice president of shared services and CIO, at the company's South Portland office in a 2015 file photo.
Evolution1, the cloud-based technology and health care payment company purchased by South Portland-based WEX Inc. for $532.5 million in June 2014, has changed its name to WEX Health.
The announcement was made earlier this week by Jeff Young, senior vice president and general manager of WEX Health, at a conference in Scottsdale, Ariz., attended by the company’s network of partner organizations. WEX President and CEO Melissa Smith was a keynote speaker at the Partner Conference 2016, which included panels on health care trends, cyber security and the impact of the Affordable Care Act on benefit plans.
“While our name and look are changing, our mission remains the same: We simplify the business of health care,” said Young, who joined WEX (NYSE: WEX) in 2014 when the company acquired Evolution1 to expand its health care payments business into the arena of consumer-driven health care, which was seen as a high-growth market with complex payments needs. “The change reflects simplicity, flexibility and global scalability. We offer the cloud platform and technology solutions that our partners, employers and consumers need to ensure they provide the best health care and benefits options available.”
At the time it was acquired by WEX, Evolution1’s portfolio of payment services included consumer-directed payments for health savings accounts, health reimbursement arrangements, flexible spending accounts, voluntary employee beneficiary associations and defined contribution and wellness programs.
WEX Health’s cloud-based health care financial management platform and its network of partner organizations is used by 200,000 employers and more than 17 million consumers across the United States and Canada, according to the company’s website.
Read more
WEX beats analysts' projections, but stock drops
WEX enters agreement with leader of electronic billing for travel industry
WEX first quarter financials beat analysts’ expectations
Most Recent
Most Recent
Comments