ConnectYourCare is not in discussion with Walgreens

ConnectYourCare, a national leader in consumer-directed health care account solutions, clarifies incorrect information included in an article published today by CDMR Market Update entitled, ‘ConnectYourCare Signals Sale with Board Picks.’

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Hunt Valley, MD (PRWEB) June 05, 2014

ConnectYourCare, a national leader in consumer-directed health care account solutions, clarifies incorrect information included in an article published today by CDMR Market Update entitled, ‘ConnectYourCare Signals Sale with Board Picks.’

Editor William Boyles included a number of factual errors including the following:

  •          Our most recent board assignments are a signal of “big change.” As stated in our June 5, 2014 press release, our new board members “were selected as proven executives with successful track records of building best-of-breed solution providers… and want to be involved with building a next generation provider of consumer-directed health care accounts and solutions.”
  •          ConnectYourCare may be folded into Walgreens. There have been no such discussions with Walgreens, nor are there any other current strategic discussions of this nature.
  •          ConnectYourCare did not fire its former CEO. As stated in our April 22, 2014 press release, “Jamie Spriggs stepped down as CEO.”
  •          ConnectYourCare has not changed ownership twice in recent years. The company had a long history with Express Scripts before it was divested in 2012.

“As the nation’s largest independent HSA administrator, ConnectYourCare continues to excite us and we are bullish about its future. Since the divestiture from Express Scripts, ConnectYourCare has continued to capture market share with an unrelenting commitment to best-in-class technology, solutions and service,” said Cal Wheaton, Chairman of the Board and General Partner of ABS Capital Partners. “ConnectYourCare’s clients include private exchanges, health plans, financial institutions, outsourced providers as well as businesses of all sizes including many in the Fortune 1000. The future is bright as ConnectYourCare has enhanced its leadership team, quadrupled its HSA accounts in 2013 and continues to lead the country’s transformation to a health account-based health care system,” he added.

ConnectYourCare is the 2014 Paybefore Award winner for Best Benefits Delivery Program for HSA On Demand®. As the nation’s #1 independent administrator of HSAs, ConnectYourCare services more than 20,000 employers. ABS Capital Partners, a leading growth equity firm, invested in ConnectYourCare in 2012.

About ConnectYourCare
ConnectYourCare's consumer-directed healthcare platform provides a fast path to account-based health plans, enabling firms to lower health benefit costs while empowering consumers with the tools they need to better manage health savings. The solution of choice for large employers, health plans and banks, ConnectYourCare offers a fresh approach to health savings by combining a simplified experience, seamless access and a unique coaching model to accelerate savings and consumer engagement. By removing complexity and motivating individuals to take control of health savings, ConnectYourCare maximizes return on investment for all participants in the healthcare benefits value chain and enables everyone to simplify, save and grow. For more information, visit http://www.connectyourcare.com.

About ABS Capital Partners
At ABS Capital Partners, we have a simple mission – to invest in the very best late-stage growth companies. Our singular focus has allowed us to cultivate a deep understanding of what it takes to get promising businesses to the next level. Our priority is finding the best growth companies – not completing certain types of transactions or investing specific amounts of dollars. Our flexibility allows us to structure the right deal to support a company’s growth trajectory and particular needs. We actively partner with CEOs to tackle the challenges of rapid expansion and create significant long-term value. Our partners are highly experienced at working with growth companies – each having spent between one and three decades in their industry as C-level executives, investment bankers, consultants or investors. For more information, visit http://www.abscapital.com.


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