BURLINGTON, Mass. (Oct. 20, 2015) — HighRoads®, the industry leader in benefits plan management and compliance solutions, today announced an agreement to divest its employer technology division of HighRoads to Enrollment Advisors, a specialized benefits services firm based in Birmingham, Ala.
The move allows HighRoads to focus solely on its flagship SaaS-based product line, primarily P2 Advance, the charter module of an enterprise platform rollout. P2 Advance combines a digital source of truth, extensibility and complex compliance document generation capabilities to help payers bring new products and plans to market quickly and compliantly.
“The new structure allows us to focus on building superior software that empowers payers to bring innovative, on-demand products to market through any channel,” said HighRoads CEO Edward J. Novinski. “Our customers always come first, and we will continue to exceed their expectations and make their jobs easier by digitizing the product lifecycle.”
Novinski, a former United Health Group executive and a HighRoads board director, succeeds Michael Byers, who will become the executive chairman for Enrollment Advisors.
Building on its 16-year history of providing benefits plan management for Fortune 100 companies, the sale of its employer technology business to Enrollment Advisers will enable HighRoads to improve and accelerate the delivery of payer-specific SaaS products.
With the Affordable Care Act applying pressure on payers to reduce administrative costs, nimble product design competencies, speed and accuracy are competitive differentiators. HighRoads’ enterprise platform directly addresses these needs by leveraging codified data across and outside the enterprise from upstream activities like product strategy and sales to downstream processes like claims management.
“HighRoads has always been a customer-focused growth company,” said HighRoads board director Lou Volpe, a managing general partner at Kodiak Venture Partners. “We’re now in a position to leverage our momentum in the payer market by unifying our team of high-performing, committed employees to one goal, one purpose – revolutionizing how payers bring products and plans to an evolving market.”
Bulger Partners served as an advisor to HighRoads in the transaction.
HighRoads, the industry leader in benefits plan management and compliance solutions, provides best-in-class cloud-based products for the health care market. For more information, visit HighRoads.com, become a fan on Facebook, a follower on Twitter (@HighRoadsHR), or read the Compliance Connection blog.
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