View this article online: https://www.claimsjournal.com/news/west/2003/09/18/32417.htm
Orange, Calif.-based CONEXIS, one of the fastest growing technology companies specializing in administration for Consolidated Omnibus Budget Reconciliation Act (COBRA), Section 125 (Cafeteria) Flex plans, and Health Reimbursement Arrangements (HRA), announced today its acquisition of Dallas-based CompLink, one of the fastest growing companies in the sector. The acquiring partners, John Word and Rusty Brown, did not release terms of the sale.
The combined company will operate under the CONEXIS name and will be headquartered in Orange, with continued operations in Dallas. Ken Farrell, President of CONEXIS, will lead the new company with Craig Firestone and other key members of the CompLink management team continuing with the CONEXIS organization.
As a result of this blending of industry leaders, CONEXIS is poised to emerge as the preeminent administrator in the rapidly expanding HRA, COBRA, and Cafeteria Plan industry. Through this transaction, CONEXIS extends its proven leadership in customer service with the industry’s leading technology. CompLink has a reputation as one of the top administrators in its category due to its fully integrated single technology platform, which gives clients greater access and connectivity. The combined capabilities of the two companies afford CONEXIS a dominant technology position in the benefits administration industry, with clients in virtually every industrial sector, including numerous Fortune 500 companies.
“We’ve been looking for a company that shared our commitment to providing customers with leading-edge technology and outstanding customer service,” said Farrell. “From our first meeting with the CompLink team, we recognized the synergy both companies shared and realized that, together, we could create the dominant customer-focused, technology-centered benefits administration organization. We will continue our shared tradition of innovative solutions for benefits professionals and providers.”
“Both CONEXIS and CompLink have experienced significant growth in recent years and share a proven ability to provide real value to clients through the latest in flexible, technology-driven operating platforms,” said Firestone. “This shared philosophy will mean that clients can continue to expect the same outstanding service while they enjoy the benefits of the expanded offerings of our combined companies.”
The new look CONEXIS product portfolio addresses the need for a true end-to-end administration resource for some of the most complex areas of benefits today. Services include COBRA, FSA, HIPAA, transportation plans, retiree and direct benefits billing and outsourcing, cost containment, and consulting services. In addition, their leading-edge Web-based settings and fully integrated, single platform combined with innovative, flexible technology creates an automated system that provides optimal outcomes and reduced administrative costs for clients.
“While CONEXIS will now be one of the largest and most experienced benefit administrative services companies in the nation, we believe the true value for our customers is the union of two of the industry’s best. The result will be a company dedicated to helping its customers realize seamless, efficient services through an investment in innovative, flexible technology,” said Farrell.