BNFT - BNFT STOCK NEWS

Benefitfocus, Inc. (NASDAQ: BNFT) announced the successful implementation of its Benefitplace solution across the University of Texas System, enhancing benefits administration for 125,000 employees and retirees. The platform replaces a customized legacy system, streamlining data exchange and reducing costs. This project sets a new standard for public sector benefits management, demonstrating Benefitfocus' capability to deliver technology solutions during challenging times. The University of Texas System comprises 14 institutions, serving nearly 240,000 students.

Benefitfocus (NASDAQ: BNFT) announced the appointment of Robin Kirby as Chief Human Resources Officer on Sept. 8, 2020. Kirby, who has over 20 years of HR experience, previously served as Senior VP of HR for USAA and held leadership roles at Infosys, Symantec, and General Electric. She will focus on future-of-work strategies, talent acquisition, and development. CEO Steve Swad expressed enthusiasm about her experience in various HR aspects, indicating that she will enhance the company's culture and talent strategies amidst rapid platform expansion.

Benefitfocus (NASDAQ: BNFT) has added Natalist to its Benefit Catalog, enhancing its offerings with products for family planning and reproductive health. Natalist provides a range of doctor-recommended products, including the 'Get Pregnant Bundle' and a new Virtual Fertility Consultation. This collaboration aims to support women and families during crucial life phases, especially during the coronavirus pandemic. Natalist is the first company to launch through Benefitfocus' InnovationPlace program, which fosters innovative startups in the benefits sector.

Benefitfocus (NASDAQ: BNFT) announced enhancements to its digital platform aimed at improving the benefits shopping experience during COVID-19. These updates focus on streamlining the enrollment process and enhancing communication for users. Key features include an improved consumer benefit election experience, enhanced mobile app functionality, increased transparency for HR administrators, and a library of data-driven messaging tools. All enhancements will be available at no additional cost to customers, supporting Benefitfocus' mission to deliver a best-in-class user experience.

Benefitfocus (NASDAQ: BNFT) announced the launch of 'One Place Now', a series of interactive virtual events aimed at providing insights into the benefits industry. The first event is scheduled for August 20, 2020, featuring Dr. Rubin Pillay discussing how technology is transforming healthcare. Additionally, the annual conference, One Place 2021, will be held virtually on March 2-3, 2021. This decision comes in light of positive feedback from virtual engagements during the pandemic, focusing on topics relevant to employers, brokers, and health plans.

Benefitfocus (NASDAQ: BNFT) announced it will release its Q2 2020 financial results after market close on August 5, 2020. A conference call is scheduled for the same day at 5:00 p.m. ET to discuss the results and outlook. Investors can access the live call by calling (877) 407-9208 domestically or (201) 493-6784 internationally. A replay will be available until August 12, 2020. Benefitfocus is a leading cloud-based benefits platform, providing software solutions to simplify benefits administration.

On June 23, 2020, Benefitfocus (NASDAQ: BNFT) announced the addition of Haven Life's Salary Protection policy to its Benefit Catalog. This innovative life insurance policy pays beneficiaries an amount equivalent to the policyholder's paycheck for up to 15 years after death. The product aims to provide families with financial security, aligning with consumer sentiments post-coronavirus, where 80% expressed the need for better financial planning. The Salary Protection policy is available online during employer open enrollment and is portable, ensuring coverage continuity.

Benefitfocus (NASDAQ: BNFT) has secured an $80 million investment from BuildGroup, aimed at enhancing its financial flexibility and accelerating strategic initiatives. The investment comes in the form of Series A convertible preferred stock with an 8% dividend and a $15 conversion price, representing approximately 13% of total shares outstanding. This funding will assist in reducing debt and exploring value-enhancing acquisitions. Benefitfocus’s leadership expressed confidence in this investment as a strategic move to improve healthcare benefits delivery.

Benefitfocus, a technology platform provider, announced that President and CEO Ray August, alongside CFO Stephen Swad, will present at the 48th Annual J.P. Morgan Global Technology, Media and Communications Conference on May 14, 2020, at 12:10 p.m. ET. The presentation will be available via live webcast, providing insights into the company's innovations in benefits administration for employers, health plans, and consumers. Investors can access the presentation through the company's investor relations website.