Morneau Shepell Inc. has announced an intent to acquire the Employee Assistance Program (“EAP”) and wellness provider LifeWorks Corp. Ltd.
“This acquisition is aligned with Morneau Shepell’s global growth strategy as well as our focus on technology innovations to create added value for our clients and their employees,” said Stephen Liptrap, president and chief executive officer of Morneau Shepell, in a press release. “This is a tremendous opportunity to grow our U.S. and global footprint, while building on our technology footprint to create integrated user experiences.”
Rita Fridella, executive vice-president of Morneau Shepell and president of employee support solutions, added that LifeWorks brings significant and complementary strengths to the Morneau Shepell employee assistance program business.
“Morneau Shepell is deeper in the clinical treatment side of workplace health with a strong technology platform,” said Fridella. “LifeWorks brings an integrated platform focused on EAP, employee engagement, rewards and recognition and human resources communications. Together we create an enhanced integrated employee experience.”
The acquisition is expected to close July 27, 2018, subject to regulatory approvals.
The above article was compiled and edited from Benefits Canada July 9, 2018 edition. We have inquired with our key contacts at both Morneau Shepell and LifeWorks and they have responded that it is business as usual for the time being.
We are reviewing alternative Employee Assistance Program options to insure our clients will have additional choices for their Employee Assistance Program providers and we will update you ASAP.
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