Waltham, MA — November 5, 2018 — Alegeus, the market leader in consumer-directed healthcare (CDH) solutions, today announced it has named Jim Foreman to its Board of Directors, effective immediately. Foreman’s appointment reinforces Alegeus’ market leadership position and signals an enhanced focus on innovation, growth, and market disruption.
Foreman joins the board as the company gears up for its next phase of growth – having just been acquired by Vista Equity Partners in early September. Alegeus joined the Vista portfolio with strong growth and momentum, having grown its market-leading consumer healthcare funding platform to support more than 350 clients, 225,000 employers, and 30 million consumers.
With more than 30 years of industry experience, Foreman brings unmatched strategic leadership and healthcare industry expertise, as well as a proven track record in managing billion-dollar P&Ls, leading company merger and acquisition strategies, and spearheading company operations in global markets. In addition to his new role with Alegeus, Foreman currently sits on the Board of Directors of ConsumerMedical and Centivo, and he is also a Senior Advisor to The Lightyear Funds and Century Equity Partners. Previously, Foreman served in prominent executive positions at Towers Perrin, now Willis Towers Watson. In addition, he was Executive Vice President and a member of the Executive Committee at Aetna and sat on numerous boards, including the Joffrey Ballet and the Employee Benefits Research Institute.
“We’re excited to welcome Jim as a member of our Board of Directors,” said Steven Auerbach, Alegeus CEO. “His tremendous track record of driving company growth across multiple organizations and market segments will be instrumental as we continue to unlock the potential of consumer-driven healthcare.”
“Jim’s vast industry experience will be invaluable as Alegeus looks to aggressively innovate to deliver enhanced value for its customers,” said Martin Taylor, Operating Principal at Vista Equity Partners and Director at Alegeus. “With Jim’s board membership and the company’s already strong performance and momentum, Alegeus will continue to excel as the market leader in consumer directed healthcare.”
“As the leader in consumer-directed healthcare, I am confident Alegeus is poised to further revolutionize the industry,” said Foreman. “I continue to be impressed with how the company is redefining the traditional approach to healthcare benefits accounts, and I’m excited to join the Board of Directors and executive team to help take it to the next level. As Alegeus prepares for even greater success, I look forward to bringing a new perspective to help the company continue to deliver next-generation technology solutions and education for its current and future customers.”
Foreman received his Bachelor of Arts degree in business economics from UCLA and studied international business at the University of Melbourne. He currently resides in Westport, CT.
About Visa Equity Partners
Vista Equity Partners is a U.S.-based investment firm with offices in Austin, San Francisco, Chicago, and Oakland with more than $43 billion in cumulative capital commitments. Vista exclusively invests in software, data and technology-enabled organizations led by world-class management teams. As a value-added investor with a long-term perspective, Vista contributes professional expertise and multi-level support towards companies to realize their full potential. Vista’s investment approach is anchored by a sizable long-term capital base, experience in structuring technology-oriented transactions, and proven management techniques that yield flexibility and opportunity. For more information, please visit www.vistaequitypartners.com.
About Alegeus Contact: Jennifer Irwin
Alegeus is the market leader in consumer directed healthcare solutions, offering the industry’s most comprehensive platform for the administration of healthcare benefit accounts (including FSAs, HSAs, HRAs, wellness incentive, dependent care, and commuter accounts), the industry’s most widely-used benefit debit card, and powerful engagement solutions to help consumers maximize savings and optimize spending for their healthcare. Over 350 clients – including health insurance plans and third party administrators – leverage Alegeus’ deep expertise and proven technology to administer benefit accounts for more than 30 million members and process more than $9.1 billion in consumer healthcare payments annually. As the healthcare and benefit markets continue to evolve, Alegeus delivers solutions that enable clients to evolve their service offerings, operate their businesses more efficiently, and focus on their customers. The company is headquartered in Waltham, MA with operations in Orlando, FL and Milwaukee, WI.