VANCOUVER, British Columbia, July 13, 2021 (GLOBE NEWSWIRE) -- The GroupHEALTH Family of Companies today announces that it has entered into an agreement to acquire a minority interest in CDAT Software Inc, the makers of Oliver Benefits Administration Software. Oliver provides a modular, robust technology platform to Canadian benefits and pension administrators to help them affordably and flexibly scale their administrative operations.
Following the closing of the transaction, Group Health Group Holdings, Inc. (known as the GroupHEALTH Family of Companies) will own a minority interest in CDAT Software Inc.
"CDAT and their Oliver Benefits Administration Software platform is completely aligned with our strategy of creating a more efficient and flexible plan administration solution for Canadian benefits and pension organizations," says Matt Houghton, CEO, GroupHEALTH Family of Companies. "Not only is CDAT well positioned to grow their market share, their focus on technology-optimized client experiences closely aligns with our goal of transforming the way that Canadians experience benefits."
With their investment in CDAT Software, the GroupHEALTH Family of Companies will provide support to a skilled leadership and technical team at CDAT that has built an innovative SaaS platform for the benefits and pension sector. This partnership allows the CDAT Software team to leverage the GroupHEALTH Family of Companies' large client base, innovative product suite, and shared services to help propel their continued growth.
"Our new relationship with the GroupHEALTH Family of Companies represents an exciting opportunity for us to scale our operations, develop new strategic relationships, and continue to invest in our Oliver Benefits Administration Software platform," says CDAT Software CEO Gerald Cole. "We're certain that both our current and future clients will appreciate the opportunities to evolve our platform and invest in client success that this partnership provides."
About Group Health
As leaders in employee benefits plans and group insurance, the GroupHEALTH Family of Companies has more than 700 employees in offices in Vancouver, Surrey, Calgary, Edmonton, Etobicoke, Woodbridge and Barrie.
With annual premiums in excess of $680 million and $5 billion in pension assets under management, GroupHEALTH insures more than 5,000 client organizations across Canada, in both the public and private sectors, supporting more than 450,000 Canadians and their families.
GroupHEALTH Benefit Solutions® (www.Grouphealth.ca) has acquired or holds substantial controlling interest in several exceptional Canadian companies including Disability Management Institute, GroupSource LP, and Manion Wilkins & Associates Ltd.
Group Health is a wholly owned subsidiary of Munich Re New Ventures, a division of Munich Re, one of the world’s leading providers of reinsurance, primary insurance and insurance-related risk solutions.
About CDAT Software
CDAT Software was founded in 1978 in the Vancouver lower mainland with the purpose of providing bespoke administration systems for trusteed pension and benefits plans to organizations across Canada. Bridging the gap between benefits administrators and technology professionals, CDAT’s mission is to deliver the most configurable, flexible, and scalable benefits administration solutions to Canadian businesses.
In 2016, CDAT set out to extend its reach to focus on the broader group benefits market and the digital delivery of benefits. This pursuit led the CDAT team to developing the Oliver Platform. The Oliver Platform is now used by single and multi-employer plan sponsors, third party administrators, and benefits brokers nationally, touching almost 200,000 Canadians. The Oliver platform continues to grow as a result of the knowledge and expertise of their dedicated team of 15 employees based in B.C. For more information, visit www.oliver.app.
Contact
Gerald Cole
CEO
Oliver Benefits Administration Software
gerald@oliver.app
604-293-7754 ext 105