Health e(fx)

Health e(fx)
Industry: Technology
Close year: 2021
Project: Sell-Side M&A
Client: Entrepreneur
Transaction: Sale to Strategic

Hennepin Partners advises

Health e(fx) on its sale to Equifax

 

Minneapolis, MN – Hennepin Partners announced that it has successfully advised Healthcare Impact Associates, LP dba Health e(fx) on its acquisition by Equifax (NYSE: EFX).

Health e(fx) is a market leading and experienced provider of Affordable Care Act (ACA) compliance software and services. Named by CIO Review magazine as one of the 50 most promising healthcare solution providers in 2020, Health e(fx) offers a robust technology platform that includes full-service ACA and state individual mandate support and reporting as well as workforce analytics. These services help make health reform easier for organizations with complex systems nationwide. Health e(fx) will become part of the Workforce Solutions business unit at Equifax. The Health e(fx) leadership team will assume roles with Equifax as part of Equifax Workforce Solutions with offices in Minneapolis, MN and Thunder Bay, Ontario.

“We are excited about the strength of services that a combined Equifax and Health e(fx) team will bring to the employer healthcare compliance market,” said Andy Brown, co-founder and Chairman of Health e(fx).

“Some of the country’s largest employers and leading ACA service providers count on Health e(fx) to help make sense of health reform changes,” continued Michael Showalter, Chief Executive Officer at Health e(fx). “Together with Equifax, we can continue to provide employers with the personalized service, deep health reform expertise and innovations and insights that help ease the burden of changing healthcare regulations and enable them to better support their workforce.”

Paul Vander Vort, Managing Director at Hennepin Partners commented, “I am so excited for Andy, Michael and all the Health e(fx) stakeholders. It has been a true professional highlight to work with such intelligent, hard-working and good people. It will be fun to watch what the future holds for all of them and the continued success they will undoubtedly enjoy as a part of Equifax.”

Andy Brown added “We couldn’t have asked for a better advisor. Hennepin Partners was with us shoulder-to-shoulder throughout the process. There was no detail too small or question we had where they weren’t immediately available – day or night. This has been true for the entirety of our relationship with Paul, which dates back to 2015, when we were essentially pre-revenue, and he has been an invaluable resource and confidant to Health e(fx) through the duration. We are so thrilled that it culminated with our company joining forces with Equifax.”

Hennepin Partners acted as Health e(fx)’s exclusive financial advisor and Barna Guzy Steffens served as legal counsel.