- Associated Press - Friday, October 16, 2015

SOUTH PORTLAND, Maine (AP) - South Portland-based payment technology company WEX says it will acquire a Nebraska health care billing software company for $80 million.

WEX says the acquisition of Omaha-based Benaissance has been approved by both companies’ boards and is subject to regulatory approvals. The companies hope to close the deal in the fourth quarter of 2015.

Benaissance had $13.3 million in revenue in 2014 and has roughly 100 employees. The company offers cloud-based financial management software for health benefit administrators and health plans.

WEX made the largest acquisition in its history last summer when it acquired North Dakota-based health care payment technology company Evolution1 for $532.5 million. The Portland Press Herald (https://bit.ly/1GKLX4D ) reports WEX representatives plan to integrate Benaissance’s services into its existing Evolution1 platform.

Sign up for Daily Newsletters

Manage Newsletters

Copyright © 2021 The Washington Times, LLC.

Please read our comment policy before commenting.

 

Click to Read More and View Comments

Click to Hide