CVS Well being indicators definitive settlement to promote bswift to Francisco Companions

World funding agency Francisco Companions, which companions with know-how firms, introduced that it has signed a definitive settlement to accumulate bswift from CVS Well being for an undisclosed quantity.

The acquisition is anticipated to shut within the fourth quarter, topic to the satisfaction of normal closing situations.

bswift was based in 1996 and has been offering software program and companies to assist streamline advantages and HR administration by a cloud-based know-how platform. Particularly, it goals to simplify administration, cut back administrative prices, join workers to healthcare sources, and handle worker advantages.

Francisco Companions has a historical past of investing in healthcare and know-how firms with holdings in over 400 know-how firms.

“We’re thrilled to companion with bswift and assist the crew proceed to develop their sturdy know-how and repair choices within the areas of advantages and healthcare. bswift is uniquely positioned as a market chief in serving to employers navigate evolving business tendencies and alternatives to holistically have interaction workers by well being, wellness advantages. being and monetary,” Justin Chen, a companion at Francisco Companions, mentioned in an announcement.


Chicago-based bswift was bought by CVS Aetna in 2014 within the quantity of 400 million {dollars}, earlier than The $69 billion deal between CVS Well being and Aetna in 2018.

In January, Personal fairness agency Francisco Companions introduced its intention to purchase IBM Watson well being analytics property. In June, he introduced that he would use these instruments to launch a brand new healthcare information firm. Merativewhich mixes Watson’s property to strengthen new sources for funding, acquisitions, partnerships and progress.

Following the latest acquisition between Francisco Companions and bswift, CVS will proceed to companion with bswift to supply its advantages know-how to CVS Well being workers and clients.

“CVS Well being and Aetna stay dedicated to bswift and the purchasers, companions and members we assist within the administration of worker advantages,” Mark Santos, vice chairman of diversified enterprise options at Aetna, mentioned in an announcement.

“FP’s deep know-how experience and confirmed monitor document in creating and rising know-how firms will allow bswift’s loyal worker base to proceed to ship progressive options.”