Empyrean Benefit Solutions, Inc. to Acquire ING's Health and Welfare & HR Services Business
Empyrean Benefit Solutions, Inc. is acquiring ING's Health and Welfare & HR Services Business in a deal to close in April.
Houston, TX (PRWEB) April 1, 2009 -- Empyrean Benefit Solutions, Inc. (Empyrean) announced today that it has acquired ING U.S. Retirement Services' (ING) Health and Welfare and HR Services benefit plan administration business. Terms of the agreement were not disclosed.
ING's Health and Welfare and HR Services business is part of ING's Institutional Plan Services division (formerly CitiStreet).
As a premier provider in the HR outsourcing and services marketplace, Empyrean is recognized for high quality heath and welfare plan administration services with superior technology at industry leading cost points. Empyrean identified this acquisition as an opportunity to better support Empyrean's high growth strategy and to continue their focus on health and welfare specifically.
Empyrean is looking forward to delivering exceptional services and superior technology to existing plan sponsors and their employees.
The parties expect to finalize the transaction by the end of April. They will be working closely together throughout the year to transition the plans to Empyrean's state-of-the-art technology platform. This deal will not involve or affect any of ING's other business, including its defined contribution and defined benefit plan administration services.
About Empyrean:
Empyrean Benefit Solutions, Inc. is an emerging leader in providing highly customized health and welfare solutions to US employers. Empyrean's senior management team has been together for many years, having created and managed benefits administration platforms for many of the industry's best providers. Empyrean's clients are unencumbered by the administrative constraints and costs associated with legacy provider's platforms.
Press inquiries:
For Empyrean
Doug Hogenmiller
Empyrean Benefit Solutions
Office: 512.904.0485
Cell: 512.657.1357
For ING
Joe Loparco
ING Americas
Office: 860.580.2677
Cell: 860.462.6525
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