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Announced

LifeWorks to acquire Benestar from Cover-More.

Financials

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Transaction Value-
Consideration TypeCash
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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Health Care Services

employee assistance program

Cross Border

Friendly

Private

Pending

Acquisition

Single Bidder

Majority

Australia

Synopsis

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LifeWorks, a provider of comprehensive mental health, digital and in-person total wellbeing solutions, agreed to acquire Benestar, an employee assistance program and workplace wellbeing provider, from Cover-More, a provider of travel insurance, medical assistance and travel risk management. Financial terms were not disclosed. “Benestar and LifeWorks are a natural fit based on our holistic and proactive approaches to workplace wellbeing and because of our shared commitment to our clients. With more than 45 years in the Australian market, LifeWorks offers our clients the most comprehensive portfolio of personalised mental health services, making a substantially positive impact in the lives of people, their families and communities, and the organisations they work for,” Jamie MacLennan, LifeWorks Senior Vice President and Managing Director.

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