October 21, 2014 11:58 AM ET

Health Care Technology

Company Overview of Evolution1, Inc.

Company Overview

Evolution1, Inc. provides electronic payment, on-premise, and cloud computing healthcare solutions that administers reimbursement accounts, including Health Savings Accounts, Health Reimbursement Arrangements, Flexible Spending Accounts, Voluntary Employee Beneficiary Associations, PRAs, and Wellness and Incentive Plans. It offers 1 cloud, a healthcare financial services platform; 1 direct, an on-premise healthcare financial services platform; 1 pay, a suite of payment solutions that enables simplified access to healthcare account funds; 1 mobile, a consumer portal that enables consumers to view account balances and details, submit healthcare account claims, and capture and send receipts any...

82 Hopmeadow Street

Suite 220

Simsbury, CT 06089

United States

Founded in 2000

Phone:

860-784-3100

Fax:

860-678-3484

Key Executives for Evolution1, Inc.

Chairman and Chief Executive Officer
President
Chief Financial Officer
Senior Vice President of Service Delivery and Operations
Senior Vice President of Strategy and Product Development
Compensation as of Fiscal Year 2014.

Evolution1, Inc. Key Developments

WEX Inc., Evolution1, Inc. - M&A Call

To discuss definitive agreement for WEX to acquire Evolution1 for $532.5 million in cash

Evolution1, Inc. Supports FSA Rollover with Comprehensive Set of Solutions

Evolution1, Inc. offers the most comprehensive set of solutions available to support the recent 'FSA rollover' announcement by the U.S. Department of the Treasury. On October 31, 2013 the Treasury modified its 'use it or lose it' provision, giving employers the option of allowing participants to roll over up to $500 of unused funds at the end of the plan year. Previously, any funds remaining in an FSA at the end of the plan year (or after a grace period) were forfeited to the employer. Through direct and collaborative advocacy with the Treasury, Evolution1 and its Partners were instrumental in the decision. Additionally, Evolution1 has introduced comprehensive, FSA-specific Partner marketing services, resources, and tools – including readiness and employer communication services – to better position and help its Partners capitalize on the market opportunity the provision creates. True to its mission to simplify the business of healthcare, Evolution1’s highly configurable, cloud-based solutions give employers – and ultimately consumers – a 'true rollover solution' that supports: The ability to schedule the rollover date; the ability to provide access to rollover funds on the first day of the new plan year; and the ability to provide access to rollover dollars for expenses in both plan years, allowing consumers to access up to $500 of rollover dollars in the new plan year as well as any excess funds from the prior plan year.

Paychex, Inc. Chooses Evolution1, Inc. as Preferred Partner

Evolution1, Inc. announced that one of the latest companies to join the Evolution1 Partner community is Paychex(R), Inc.

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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
June 16, 2014
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