Compass provides advocacy and network optimization services to more than 1,700 companies including Southwest Airlines and T-Mobile. The deal is expected to be completed during the third quarter, subject to customary closing conditions.
"Alight has a long-standing commitment to supporting people in the moments that matter, and those times are often connected to their health or the health of a loved one," said Chris Michalak, CEO of Alight Solutions in Lincolnshire. "After evaluating the market, it was clear that bringing together Compass' best-in-class, intuitive technology and health care experts with Alight's industry-leading benefits administration platform, enrollment expertise and award-winning employee experience solutions will allow us to help people navigate the complex and costly health care environment when they need it most."
"We are thrilled to join an organization with a focus on its clients and their people that so closely aligns to Compass' mission of redefining health care," said Adam Johnson, president of Compass.
Johnson will lead Compass, reporting to Jason Herr, executive vice president of health solutions at Alight. Compass will become a fully integrated part of Alight's Health and Wealth Solutions business, led by Michael Sigmund.
Financial terms were not disclosed. Stephens Inc. served as the exclusive financial adviser to Compass in the transaction.