BOSTON, September 24, 2014: Morgan Lewis represented Maestro Healthcare Technology, a privately-held health benefits services company focused on employers and brokers, in its acquisition of Florida-based Workable Solutions from Alegeus Technologies. The deal bolsters Maestro’s unique benefit offerings with the addition of leading private exchange and billing capabilities. Terms of the transaction, which closed on August 29, were confidential.
Based in Highland Park, Illinois, Maestro was the first provider to introduce an employer-benefit solution featuring both private exchange and self-funding capabilities on a single platform. Workable Solutions operates tier-one benefits programs, including defined contribution private insurance exchanges, flexible spending accounts, health reimbursement arrangements, health savings accounts, parking and mass transit programs, and COBRA administration. Combining the two companies’ capabilities will establish an industry-leading integrated platform designed to provide simple administration for employers and an easy-to-understand marketplace for consumers.
The Morgan Lewis team advising Maestro in the transaction was led by Business and Finance partner Mark Stein with assistance from associate Mark Opitz.