TripleTree Advises Fidelity National Information Services in the Sale of its Healthcare Benefit Solutions Business to Lightyear Capital for $335 Million

The new company has been renamed and will operate as Alegeus Technologies.

TripleTree Advises Fidelity National Information Services in the Sale of its Healthcare Benefit Solutions Business to Lightyear Capital for $335 Million


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Today, announced the acquisition of the Healthcare Benefit Solutions Business of its client, (FIS), the world’s largest global provider of banking and payments technology, by , a New York-based private equity firm focused on financial services investing. The pending acquisition had been previously announced on June 25, 2012.

“FIS has built a market leading position in healthcare account processing and payment services, and this business continues to perform very well,” said Gary Norcross, President and Chief Operating Officer of FIS. “TripleTree was retained to help us understand the considerations associated with the healthcare business. We ultimately made a decision to divest of the business. TripleTree provided us with good alternatives as our advisor and was a solid partner throughout the engagement until closing. The divestiture is consistent with our primary focus to serve financial institutions, as well as our strategy to maintain leadership positions in markets where we have meaningful scale.”

“We found a great home and investor for this business, enabling the Company to maintain its leadership position and continue growing to meet the evolving needs of the industry,” said Scott Tudor, Managing Director at TripleTree. “We are very pleased that we were able to position the new company for future success while enabling a continued focus on serving financial institutions for FIS.”

The new company has been renamed and will operate as Alegeus Technologies (“Alegeus”). Alegeus is the market leader in benefits administration and payment processing for consumer directed healthcare accounts. Robert Natt will be Alegeus’ full time Executive Chairman and Thomas Torre will be its Chief Executive Officer.

Alegeus is the leading provider of benefit administration and payment processing technology in the consumer directed healthcare (CDH) market, an important and growing component of the U.S. healthcare system that connects patients, payers and providers. Over 500 clients including third party administrators, health insurance plans and financial institutions leverage Alegeus’ deep expertise and proven technology in benefit administration and payment processing to serve over 60,000 employers and 11 million CDH account holders. The Company’s consumer directed healthcare administration platform helps clients improve relationships with employers and their benefit plan members. Alegeus’ payment output solutions provide seamless flow of funds and information among patients, payers and providers. The Company is headquartered in Waltham, MA, with operations in Carrollton, TX and Milwaukee, WI.

“We are extremely excited to add Alegeus to our portfolio of high-quality, market-leading companies in the financial services space,” said Donald B. Marron, Chairman of Lightyear. “There is tremendous opportunity to grow and expand this business, and we look forward to working closely with Bob Natt, Tom Torre and the rest of the Alegeus team to invest in the talent and technology which will extend its leadership in consumer directed healthcare.”

“Lightyear is the perfect partner for Alegeus,” said Bob Natt. “They have great insights into our business and are committed to helping us grow as an independent company and expand our business in healthcare benefit and payment processing to accommodate market trends.”

TripleTree acted as the exclusive strategic advisor to FIS in connection with the transaction.

About TripleTree

TripleTree is an independent, research-driven investment bank focused on mergers and acquisitions, financial restructuring, and principal investing services. For more than a decade, the firm has worked with innovative, high-growth businesses in the healthcare industry.

About FIS

FIS (NYSE: FIS) is the world’s largest global provider dedicated to banking and payments technologies. With a long history deeply rooted in the financial services sector, FIS serves more than 14,000 institutions in over 100 countries. Headquartered in Jacksonville, Fla., FIS employs more than 32,000 people worldwide and holds leadership positions in payment processing and banking solutions, providing software, services and outsourcing of the technology that drives financial institutions. First in financial technology, FIS tops the annual FinTech 100 list, is 425 on the Fortune 500 and is a member of Standard & Poor’s 500® Index.

About Lightyear Capital

Lightyear Capital is a leading private equity firm making primarily control investments in North America based middle-market financial services companies. Based in New York, Lightyear, through its affiliated funds, has managed approximately $3 billion of committed capital with investments across the financial services spectrum, including asset management, banking, brokerage, financial technology, insurance, and specialty finance. Lightyear brings unique strengths and discipline to its investment process, as well as operating, transaction, and strategic management experience, along with significant contacts and resources beyond capital. The senior team of professionals averages over 25 years of financial services-related experience and includes Chris Casciato, Michael Doppelt, Stewart Gross, Thierry Ho, Donald Marron, Richard Sterne, and Mark Vassallo.


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