10 May 2018 13:30
Photo : Freepik
Symbility Solutions, a software company for the insurance industry, has sold its health division Symbility Health to TELUS Health for the sum of $ 16.5 million. The transaction is subject to working capital adjustment.
«The transaction will allow Symbility Solutions focus more on its platform of property and casualty insurance, while considering other mergers and acquisitions with the proceeds from the transaction,» explains James Swayze, president and chief executive officer of Symbility.
«We welcome the team of Symbility and its customers and are excited to provide the best customer experience by offering the latest tools of management of health easy-to-use to third-party payers and administrators. These can improve the efficiency and flexibility for employers of all sizes and their employees and support their growth, » says Luc Vilandré, vice-president, insurance plans, health at TELUS Health.