Century Capital-backed Enrollment Advisors has agreed to buy Boston-based HighRoads‘ employer tech division. No financial terms were disclosed. HighRoads CEO and President Michael Byers has been named executive chairman of Enrollment Advisors. HighRoads is a provider of benefits plan management and compliance solutions. Its investors include ABS Ventures, AH Ventures, Egan Managed Capital and Kodiak Venture Partners.
BIRMINGHAM, Ala. Oct. 20, 2015 — Enrollment Advisors, LLC (EA), a specialized benefits services firm, announced an agreement today to acquire the employer technology division of HighRoads®, a Boston-based company that provides benefits plan management and compliance solutions for both payer and employer markets.
The acquisition, which doubles EA’s head count and revenue, positions EA to become the industry leader in plan management and health care compliance while expanding its offices in Boston, Washington, D.C., and Ottawa, Canada.
“This acquisition will extend our core offerings and create greater value for EA’s clients across the country,” said Bart Yancey, EA CEO. “EA is now able to offer our concierge-level service to a larger client base, while providing industry-leading benefits plan management technology and domain expertise.”
With growing uncertainty in the health care market, the combination of EA and HighRoads will help mid- and large-sized employers remain in compliance, while ensuring each employee is able to make informed benefit decisions.
Michael Byers, who served as HighRoads’ CEO and president since 2008, will become Executive Chairman for Enrollment Advisors. “HighRoads’ technology is a natural fit for EA,” said Byers. “Together, we’ll offer a complete portfolio of benefit solutions for our Fortune 500 clients and accelerate the pace of new technology innovation in a rapidly evolving health care environment.”
About Enrollment Advisors
Enrollment Advisors is a specialized benefits services firm serving large U.S.-based employers. A single source for effective employee education, compliance, enrollment and benefits administration, EA partners with its clients to identify benefits-related challenges, define company culture and develop a strategy that generates savings and efficiencies. Since 2013, EA has experienced more than 300 percent growth.