June 7, 2006
UnitedHealthcare Announces Purchase of ProcessWorks
We are pleased to announce that UnitedHealthcare has purchased ProcessWorks, Inc. ("ProcessWorks" or the "Company") on June 6, 2006. The transaction will further the efforts of both companies to create more comprehensive, integrated health and benefits solutions for customers nationwide. The association with UnitedHealthcare also provides ProcessWorks with additional world-class technology and people resources that will continue to enhance both its services and service capabilities.
Efficiency, accuracy, ease and dependability in its products and services have repeatedly afforded ProcessWorks a 99% client retention rate. The Company focuses exclusively on the administration of tax-favored reimbursement plans (Section 125 Flexible Spending Accounts (FSAs), Health Reimbursement Arrangements (HRAs), Medical Reimbursement Arrangements and Transit/Parking Plans), COBRA administration and Retiree Billing.
ProcessWorks achieves competitive distinction through rigorous training, aggressive service standards, and proprietary, flexible and powerful technology tools in conjunction with the constant application of metrics to drive continuous improvement. This transaction will allow the Company to access the depth of UnitedHealthcare’s resources in order to continue and expand upon its tradition of leading the benefits administration industry in innovation.
ProcessWorks will continue the exceptional level of service that clients are accustomed to receiving, and there will be no immediate changes to benefits administration or any processes. It is business as usual at this time, and clients should continue to work with existing ProcessWorks representatives. Please call an account representative, broker or consultant with any questions. As ProcessWorks moves forward and introduces future enhancements to the market, ProcessWorks will communicate those enhancements to clients in advance.
Established in 1987, ProcessWorks serves more than 3,000 customers in 40 states.
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