15 Jan BenSoft product to become part of Metavante Healthcare Payment Solutions
Milwaukee, Wis. – Metavante has announced plans to acquire the San Diego-based BenSoft, Inc. and its RepayMe product, which will be integrated into the Metavante Healthcare Payment Solutions suite of products.
RepayMe software provides a Web-based tool for individuals who participate in various benefit programs. The product, designed for third party administrators, health plans, and self-administering employers, allows people to more easily obtain reimbursement for eligible expenses that are covered by their benefit plans.
Metavante, a provider of banking and payments technology, is responding to the healthcare market’s transition to consumer-driven healthcare plans. With this transition, the company has identified a market need for a single, integrated benefit administration solution for consumer-driven plans such as health savings accounts.
John Reynolds, president of Metavante Healthcare Payment Solutions, said RepayMe enhances Metavante’s ability to help health plans and third-party administrators manage costs and help consumers make better healthcare choices.
Terms of the acquisition were not disclosed, and the transaction is not expected to have a significant impact on Metavante’s revenue or profitability in 2008.
• Metavante acquires European payment software company
• M&I shareholders vote to split off Metavante Corp.
• Metavante appoints two executive technologists