Evolution1 is the new name for the combined company being formed out of the marriage of Lighthouse1 and Evolution Benefits. Genstar Capital, who is funding the transaction, sees the potential for an expanding platform of healthcare-related services. As healthcare reform and the budget deficit begin to meet in the middle, organizations are going to be forced to look for ways to wrestle efficiencies out of the market. The main drivers are now in place that can make these investments pay off, but it is still a play that requires real know-how and these two companies certainly have that.
“The combination of our innovative products will further our leadership position in a rapidly changing healthcare market. Together with our partners we are committed to reducing costs and simplifying the business of healthcare.” said Young.
Evolution Benefits has been among the industry’s fastest growing organizations, recognized as one of Deloitte Technology’s Fast 500 for the last five years, and Lighthouse1 has grown over 200% in the last three years.
