Alegeus Expands Leadership, Appoints Gregory Deavens to Board of Directors

WALTHAM, Mass. — Alegeus, the market leader in consumer funding technology, today announced it has named Gregory E. Deavens to its Board of Directors, effective immediately. In his role, Deavens will provide strategic counsel to support continuous innovation to enhance the Alegeus value proposition, extend its leadership position in the market, and provide deep market and customer insights to fuel Alegeus’ relentless focus on being a client-first organization.

Deavens joins the Alegeus board as the company gears up for its next phase of growth – establishing itself as the number-one white-label technology provider in the consumer funding space, delivering a best-in-industry Health Savings Account (HSA) experience, and scaling its operations for the rapid growth of its client base, which serves millions of consumers and processes billions of dollars of consumer healthcare payments annually.

Deavens is president and chief executive officer for Independence Health Group (Independence), parent of Independence Blue Cross, one of the nation’s leading health insurers. He joined Independence in 2017 as executive vice president, chief financial officer, and treasurer. In this capacity, he led the company’s financial functions as well as its Actuarial, Underwriting, Corporate Development and Enterprise Risk Management organizations. Prior to joining Independence, Deavens held senior financial roles at MassMutual, NY Life, CIGNA, and GE Capital.

“We are so excited to add Greg’s expertise as a member of our Board of Directors,” said Leif O’Leary, Alegeus CEO. “His exceptional experiences in the healthcare and benefits markets – especially as a senior leader of a premiere health insurance plan – will offer unique insights to help us sharpen our innovation strategies, continue to become a more client-centric organization, and unlock the full potential of the customers we serve. He also brings a proven track record and true passion for diversity and inclusion – which is an important focus for Alegeus.”

Deavens was selected as a board member through Vista Equity Partner’s independent board program, which leverages the firm’s network to source qualified board candidates for its portfolio companies. Deavens has extensive experience in board service roles, including his current roles as chairman of the Board of Directors of Hartford HealthCare and board member for Blue Cross Blue Shield Association (which represents Blue plans covering 106 million Americans), America’s Health Insurance Plans, Quartet Health, and formerly the Executive Leadership Council, among others.

“I am passionate about making sure people have access to high quality, equitable care — that is really at the core of the work that I do in my professional life,” Deavens said. “Alegeus is doing important work to ensure that people are able to afford the care that they need now and in the future. I am excited to work alongside Leif and the leadership team as we continue to further accelerate innovation and transform healthcare experiences by leveraging the power of consumer funding.”

Deavens is a member of the National Association of Corporate Directors, American Institute of Certified Public Accountants and the Missouri Society of Certified Public Accountants (*CPA Inactive). He holds a Bachelor of Science degree in accounting from Florida A&M University.

About Alegeus

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. And our unique partnership model empowers our clients to achieve outsized results – growing their programs at a rate that is 2-3X the market, and with the highest net promoter scores (NPS) in the industry. We never compete with our clients – we win when they win. Alegeus is headquartered in Waltham, Mass., with operations centers in Orlando and Bangalore, and a large remote workforce.

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