Nov. 2009--Evolution Benefits, an electronic benefit payment services provider, has acquired BEMAS Software Inc., a fast-growing provider of reimbursement account administration software to third party administrators, health plans, and self-administered plan sponsors. It has had a distribution partnership with EB since 2006.
Citing market demand for a more seamless, integrated solution between administrative software and debit card functions, EB Chairman and CEO Bob Patricelli said, “We see this as an excellent opportunity to offer the next-generation technology for our clients in the consumer-directed health care industry.”
In the near future, EB and BEMAS plan to roll out an integrated application for improved web services, and EB will invest in ongoing improvements of the BEMAS system to add enhanced functionality. EB will also continue to fully support its other existing software partners that offer the EB debit card to their customers, and BEMAS will continue to support its integration with other debit card partners.
According to Patricelli, EB chose BEMAS based on its reputation as a “best in class” software provider. “BEMAS is growing rapidly and our companies share a similar culture and strategic vision.” BEMAS will continue to function as a separate organization and will remain at its current headquarters in St. Louis, MO.