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BeneSys Inc. acquires Beacon Technologies Group
Sherman & Company served as financial advisor to Beacon Technologies Group
BeneSys Inc., a leading third-party administrator of benefit plans for Taft-Hartley multiemployer trust funds, has acquired Beacon Technologies Group Inc. The integration of Beacon’s SpyGlass health claims processing software with BeneSys’ BenefitDriven administrative software will streamline internal operations for BeneSys and result in an even better client experience.
“Owning proprietary software is key to ensuring quality and highly secure delivery,” said BeneSys CEO Edward S. Wolyniec. “Prior to this, BeneSys has been able to operate in-house in every area except health claims processing. Now, with the addition of Beacon, we have complete control of our destiny from a technology standpoint.”
Beacon will remain an independent entity under the BeneSys umbrella of companies and continue operating out of Carmel, Indiana. The change in ownership will not affect Beacon’s operations, organizational structure, or level of service to its current clients.
“BeneSys brings a wealth of resources and subject matter expertise, which will help us serve our customers even better,” said Beacon CEO Ernie Crawford. “BeneSys understands our marketplace and our customers’ needs.”
Wolyniec said he looks forward to working with Beacon’s long-tenured, experienced team. “It’s critical that the people who built SpyGlass will be with us now and into the future to maintain the software,” he said. “Beacon provides software for some of the most complex plans out there, making them the perfect fit to augment our systems. This acquisition is an investment in enhancing our core competencies and improving our client service. This will be of great benefit to all existing BeneSys Health fund clients.”
Beacon Technologies Group has been building solutions for health claims management since 1995. Its fully integrated claims processing software is industry-leading and trusted by third-party administrators. Learn more at beaconspyglass.com.
BeneSys has been providing Taft-Hartley trust fund administration and IT services since 1979. The company’s dedicated specialists understand the nuances of Taft-Hartley benefit plans, and its software system, BenefitDriven, is designed to give clients and their plan participants the most efficient tools for self-administering trust fund accounts. BeneSys serves numerous trust funds throughout the country covering more than 500,000 plan participants and their dependents. Learn more at benesys.com.
Sherman & Company Served as Financial Advisor to Beacon Technologies Group Inc.