ROSEVILLE, Calif., August 25, 2003 (PRIMEZONE) -- Benefits Partners Inc. (BPI), headquartered in Roseville, California, today announced a change in its strategic focus and the sale of certain of its assets to Pacific Health Advantage, the nation's largest non-profit small business purchasing pool for health insurance.
Benefits Partners also said that PacAdvantage has obtained a license for its PX2 software, BPI's best of breed administrative services software for the insurance industry, which utilizes web-enabled interfaces and electronic data interchange protocols that are HIPAA compliant.
While terms of the transaction were not disclosed, Benefits Partners said that, "Effective September 1, the sales of these assets transfers administrative functions formerly performed by BPI to PacAdvantage management, allowing PacAdvantage to directly control significant current and future investments in information technology and plan services."
Patricia Steinbarth, BPI Chief Executive Officer, said, "We have been in a mutually beneficial and profitable partnership with PacAdvantage since BPI's establishment in 1998, when we first began processing enrollment and performing other administrative tasks for the company. With the sale of this portion of our business to PacAdvantage, and the purchase of a PX2 software license by the company, that successful partnership will continue.
"Equally important," Ms. Steinbarth continued, "is our strategy shift to focus on the further development of our software products and increasing our market share, revenues and profitability for these products."