ADP Completes Acquisition of the Human Resource Solutions Subsidiary of SHPS, Inc.
Market-leading Reimbursement and Absence Management Solutions Further Strengthen ADP’s Benefits Administration Leadership
ROSELAND, N.J. – April 3, 2012 – ADP®, a leading provider of human resource outsourcing, payroll services, tax and compliance services, benefits administration and integrated computing solutions for vehicle dealers, today announced that it has completed its acquisition of the human resource solutions subsidiary of SHPS, Inc., a highly respected provider of benefits administration services.
SHPS’ Human Resource Solutions (HRS) includes benefits administration eligibility and enrollment, spending accounts, COBRA, absence management solutions, benefits advocacy, and print and fulfillment, and is a strategic fit with ADP’s already strong benefits solutions and services. With the addition of HRS offerings, ADP continues to broaden its benefits portfolio while significantly expanding its capabilities in the areas of absence management and reimbursement solutions such as Flexible Spending Accounts (FSA), Health Savings Accounts (HSA) and Health Reimbursement Accounts (HRA).
“As health care reform accelerates and employers look for new ways to engage employees and manage costs, the addition of HRS’s exceptional solutions in reimbursement accounts and absence management will further strengthen ADP’s position in the rapidly growing benefits marketplace,” said Tim Clifford, President, Benefits Services at ADP. “More and more of our clients are looking for new ways to navigate the evolving health care environment, while providing employees with a wide range of options to help meet their health care needs. By combining ADP’s current benefits outsourcing services and leading technology platforms with SHPS HRS, we are poised to offer that and more to our clients.”
This transaction builds on ADP’s continued focus on benefits, including the acquisition of Asparity Decision Solutions, a supplier of patented employee benefits decision support tools. It also follows the establishment of ADP’s Strategic Advisory Services group, which is dedicated to advising clients on benefits administration services by providing business intelligence and strategies to help drive compliance with increasing regulatory changes, lower overall health care costs and increase associate engagement.
Automatic Data Processing, Inc. (NASDAQ: ADP), with about $10 billion in revenues and approximately 570,000 clients, is one of the world's largest providers of business outsourcing solutions. Leveraging over 60 years of experience, ADP offers a wide range of human resource, payroll, tax and benefits administration solutions from a single source. ADP's easy-to-use solutions for employers provide superior value to companies of all types and sizes. ADP is also a leading provider of integrated computing solutions to auto, truck, motorcycle, marine, recreational vehicle, and heavy equipment dealers throughout the world. For more information about ADP or to contact a local ADP sales office, reach us at 1.800.225.5237 or visit the company's Web site at www.ADP.com
SHPS, Inc. is dedicated to helping organizations improve member health and control healthcare costs through its Carewise Health and Landacorp subsidiaries. Landacorp creates care management software and solutions that enable highly efficient collaboration among health plans, providers and members. Carewise Health delivers industry-leading health and wellness programs which give members the skills they need to achieve and sustain optimum health. Visit www.carewisehealth.com to learn more.
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Christian Harper, Weber Shandwick for ADP