Alegeus Appoints Industry Veteran Jim Foreman to its Board of Directors
Published on November 5th, 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.
With more than 25 years of growth and innovation, Alegeus is the market leader in SaaS-based healthcare payment solutions. Our highly flexible, white-label platform powers account-based benefit programs such as HSAs, FSAs, HRAs, COBRA, wellness incentives, lifestyle benefits and beyond. We deliver exceptional user experiences and differentiated capabilities that help our partners strengthen their product offerings, operate more efficiently, and unlock their full growth potential. Our partnerships with the industry’s leading health plans, third-party administrators, financial services and benefit solution providers give Alegeus unparalleled reach in the market, with access to more than 100 million commercially insured Americans. And our unique partnership model empowers our clients to achieve outsized results – growing their programs at a rate that is 3-4X the market, and with the highest net promoter scores (NPS) in the industry. We never compete with our clients in the market – we win when they win. Alegeus is headquartered in Waltham, Mass., with operations centers in Orlando and Bangalore, and a large remote workforce.