Content area
Abstract
(Marketwired - Feb. 11, 2015) - Smart Employee Benefits Inc. ("SEB") (TSX VENTURE:SEB) is pleased to announce it has closed its investment in "SEB Benefits & HR Consulting Inc." ("SEBCON"), which owns the consulting practices of Joseph Ricciuti, Paul Serafini, Julie Holden and Sandra Routledge (collectively, the "Operating Shareholders"). SEB has acquired 50% of the issued and outstanding shares of SEBCON with the Operating Shareholders owning the other 50%. SEBCON operates as a consulting company providing innovative services and solutions for corporate and government clients in the areas of Group and Health Benefits, Retirement Plans and Human Resources.
Joseph Ricciuti, President/CEO of SEBCON states: "We are attracted to SEB's leading edge benefits and HR technology solutions. In today's consumer driven benefits market place and changing HR environments, technology is what enables better decisions and the opportunity to access and analyze real time data to help make wise choices and enhance the value of the work experience. In my 35 years in the insurance and benefits industry, SEB's combined administration and adjudication platform is beyond any system I have seen. The administration environment is modular but fully integrated and their rules capability allows all benefit types to be adjudicated in the same environment, unlike the distinct environment approach for each benefit type that characterizes the industry today. In addition, SEB has a fully automated "Health and Wellness" platform rich in specialized content and complete with a fully integrated rewards platform which provides detailed information to individuals and aggregated information to organizations. SEB's recent acquisition of 50% of Banyan Health Systems further provides a number of Disability Management software solutions and expertise, including a rehabilitative and back to work infrastructure, on a national basis. The SEBCON team believes the SEB benefits, and health and wellness technology platforms are major competitive advantages in furthering the growth of our consulting practice. SEBCON is now in a very strong position to provide clients with the most comprehensive automated and customizable benefit solutions in the industry, all in one integrated technology environment; and this should bode well for the growth of our business."