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February 05, 2016 7:53 PM ET

Health Care Technology

Company Overview of Evolution1, Inc.

Company Overview

Evolution1, Inc. provides cloud-based healthcare software and payment solutions that administer and manage consumer directed accounts and exchange integration solutions. It offers a healthcare accounts administration platform that administrates health savings accounts, health reimbursement arrangements, flexible spending accounts, voluntary employee beneficiary associations, premium reimbursement accounts, defined contributions, wellness plans, and transit plans; a contribution solution that delivers the next generation of consumer-directed health plans; a solution that enables consumers to view account balances and details, submit healthcare account claims, and capture and send receipts on ...

82 Hopmeadow Street

Suite 220

Simsbury, CT 06089

United States

Founded in 2000





Key Executives for Evolution1, Inc.

Chairman and Chief Executive Officer
Chief Financial Officer
Senior Vice President of Service Delivery and Operations
Senior Vice President of Strategy and Product Development
Compensation as of Fiscal Year 2015.

Evolution1, Inc. Key Developments

Evolution1 Releases New Features and Functionality to 1Cloud by Evolution1

Evolution1 has released new features and functionality to 1Cloud by Evolution1. The enhancements make healthcare benefit transactions easier and faster for consumers. New functionality enables consumers to initiate health savings account (HSA) transactions on the go - anytime and anywhere with 1Mobile by Evolution1. The updated version of 1Mobile includes a new “HSA Transaction” button that quickly and easily enables consumers to conveniently make HSA distributions and contributions. When distributing funds from their HSA, consumers can pay themselves to an established bank account, or they can pay someone else, such as a provider. For contributions, consumers may use 1Mobile to initiate a funds transfer from a personal bank account into their HSA. Additionally, an enhanced Consumer Portal Message Center enables consumers to stay up to date about account activity through “View My HSA Tax Statements”, an automated message to advise consumers when a new HSA tax statement is available, and “Manage My Notification Preferences”, which empowers consumers to personalize the way that they receive information about their accounts. The enhancements also bring benefits to Evolution1 partners, which include health plans, key financial institutions/banks, third-party administrators, and innovative health services companies such as Medica.

CBIZ, Inc. Selects Evolution1 as Preferred Partner

Evolution1 continued to strengthen its partner base with the addition of marquee partners such as CBIZ, Inc. Evolution1 converted CBIZ's book of healthcare FSA and HRA accounts from CBIZ's previous vendor. Evolution1 enables CBIZ to now offer a new integrated HSA solution as well as a true multi-account solution. Additionally, CBIZ will now bring mobile capabilities to its clients through the 1Mobile by Evolution1(R) app.

WEX Inc., Evolution1, Inc. - M&A Call

To discuss definitive agreement for WEX to acquire Evolution1 for $532.5 million in cash

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