Alight Acquires Leading Absence Management Provider ReedGroup

Rhea-AI Summary

Alight announces the acquisition of ReedGroup, a leading expert in leave management solutions, from The Guardian Life Insurance Company of America. This strategic move aims to enhance employee experiences by integrating ReedGroup’s capabilities into Alight’s Worklife platform, which serves around 36 million people globally. With operations across six continents and nearly half of the Fortune 100 companies as clients, the acquisition is expected to provide significant synergies, ultimately improving health and wellbeing support for employees during leave.

Positive

• Acquisition of ReedGroup enhances Alight's capabilities in leave management, likely improving employee experience.
• Alight serves around 36 million people globally, positioning it strongly in the market.
• The deal potentially expands service offerings, allowing for innovations in health and wellbeing.

Negative

• None.

Building on Alight’s focus on improving the employee experience, the addition of ReedGroup will enable employers and employees to have a more seamless leave experience

LINCOLNSHIRE, Ill.--(BUSINESS WIRE)-- Alight Inc., (NYSE: ALIT) a leading cloud-based human capital and technology services provider, today announced it has acquired ReedGroup, an expert in leave management solutions from The Guardian Life Insurance Company of America^®.

Alight’s platform strategy, underpinned by Alight Worklife^®, is focused on improving the employee experience while driving measurable outcomes for companies and their people. The acquisition of ReedGroup builds upon Alight’s strategy to support employees and their dependents from hire through retire by adding new content, capabilities and products that have the power to change the way that people interact with HR, their benefits and their employer to power more confident decisions for life.

“Combining the strength of ReedGroup with Alight’s full breadth of capabilities will create a more effective leave experience for both employers and employees,” said Andre Walton, executive vice president, insurance solutions at Alight. “When Alight supports workers through their leave with clinical guidance and expert second opinion services and more, we can help workers care for their health and wellbeing during their time on leave and return to work with a thoughtful eye towards improving outcomes for workers and for their employers.”

Serving clients across 6 continents, including nearly 50% of Fortune 100 companies, ReedGroup is one of the nation’s most experienced and data-driven absence management providers, offering outsourcing, co-sourcing, SaaS and clinical guidelines, all tailored to meet the needs of large employers, insurers and healthcare professionals.​

“Alight is leading the employee wellbeing space with products and technology that employers and employees want and need, including the desire for a better employee leave experience. Joining Alight expands the range of offerings we can make to our shared and future clients giving us the ability to make unparalleled innovations in the areas of health and wellbeing,” said Kevin Curry, who served as chief revenue officer at ReedGroup and will be joining Alight to lead the commercial and account management functions for ReedGroup. “ReedGroup’s capabilities help Alight respond to the growing complexity employers are facing as they navigate the ever-changing leave landscape. For over 40 years, we’ve built innovative technologies and offerings that will serve to expand what Alight and ReedGroup can offer their clients.”

Terms of the deal were not disclosed.

About Alight Solutions

Alight is a leading cloud-based human capital technology and services provider that powers confident health, wealth and wellbeing decisions for 36 million people and dependents. Our Alight Worklife® platform combines data and analytics with a simple, seamless user experience. Supported by our global delivery capabilities, Alight Worklife is transforming the employee experience for people around the world. With personalized, data-driven health, wealth, pay and wellbeing insights, Alight brings people the security of better outcomes and peace of mind throughout life’s big moments and most important decisions. Learn how Alight unlocks growth for organizations of all sizes at alight.com.

About ReedGroup

ReedGroup is the largest exclusive tech-enabled provider of absence management solutions to the large employer market in the U.S. and Canada. They provide absence services, disability management and clinical decision support. The business has four core segments, outsourcing, SaaS Canadian outsourcing and MDGuidelines^®. ReedGroup serves nearly 50% of Fortune 100’s with operations across the United States, Canada, and India.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221206005272/en/

MacKenzie Lucas

mackenzie.lucas@alight.com

Source: Alight Solutions

FAQ

What is the purpose of Alight's acquisition of ReedGroup?

The acquisition aims to enhance employee experiences by integrating ReedGroup's leave management solutions into Alight's offerings.

How does the acquisition of ReedGroup impact Alight's clients?

By adding new capabilities, the acquisition is expected to improve the leave experience for employers and employees.

When was the acquisition of ReedGroup by Alight announced?

The announcement was made on a date not specified in the press release.

What is the stock symbol for Alight?

The stock symbol for Alight is ALIT.