Benefits industry newsmakers: Aspire Financial Services, Human Interest, DocSynk, and more
New from AcelRx, CBIZ, EPIC Insurance Brokers, Integrated Specialty Coverages, SurePayroll, and more
Employee benefits professionals and companies are on the move. Here’s news of promotions, new hires, M&As, and more.
SurePayroll was awarded Gold in the e-Commerce Customer Service Award category and Bronze for Contact Center of the Year at the 14th annual Stevie Awards for Sales and Customer Service held in Las Vegas, Nevada. SurePayroll is a wholly owned subsidiary of Paychex.
Integrated Specialty Coverages acquired Access Partners Insurance Services, LLC, a multi-line wholesale broker offering a broad range of classes for insurance lines of all sizes with a focus on workers’ compensation. ISC is a technology-enabled General Agency.
Human Interest completed two rounds of fundraising and is poised to increase access to retirement savings for workers employed by SMBs. The company has built a digital retirement benefits platform, recruited new talent, formed partnerships, and broadened product offerings to include 403(b) plans.
EPIC Insurance Brokers and Consultants announced that Matthew Marmorek has joined the firm as National Practice Leader, Global (Non-US) Employee Benefits. He specializes in developing innovative solutions to help multinational organizations meet their global employee benefit needs.
DocSynk announced two key milestones in customer acquisition and executive leadership to cap its first quarter as it stays on track for a series A investment later this year. The company signed a flagship customer for its Revenue Cycle Management product – Cash Flow Manager. And it announced the addition of Prabhakar Reddy as an operating partner and board member. Reddy previously served as the CEO at Motivity Labs.
CBIZ, Inc. announced the acquisition of substantially all the assets of Pension Dynamics Company, LLC, (“PD”). PD, founded by Stephen Butler in 1979, is a full-service retirement and benefits plan advisor providing a wide array of plans including 401(k), 403(b), 457(b), defined benefit, cash balance, profit sharing, and flex, COBRA, health reimbursement and commuter plans to clients in the San Francisco Bay area. PD has 25 employees and approximately $3.6 million in annual revenue.
Aspire Financial Services, LLC recently announced the hiring of Matt Drummond as National Sales Director, Individual Accounts. Matt reports to Pete Kirtland, CEO of Aspire, a division of PCS Retirement, LLC (PCS). In this role, Matt is responsible for growing Aspire’s position in this marketplace while driving additional product innovation.
AcelRx Pharmaceuticals, Inc. announced the execution of a definitive merger agreement to acquire Tetraphase Pharmaceuticals, Inc. in a stock-for-stock deal at an exchange ratio of 0.6303 shares of AcelRx for each share of Tetraphase, or approximately $14.4 million as of the close of trading on March 13, 2020, plus a contingent value right (CVR). The transaction was unanimously approved by both the AcelRx and Tetraphase Boards of Directors and is expected to close in the second quarter of 2020, subject to customary closing conditions.
READ MORE: