Company Background

Evolution1 and our Partners serve more than 7 million consumers, making us the nation’s largest electronic payment, on-premise and cloud computing healthcare solution that administers reimbursement accounts, including HSAs, HRAs, FSAs, VEBAs, Wellness and Transit Plans. It is the only solution that meets more than 1,200 unique plan designs, provides innovative auto-substantiation technologies, simplifies user experience, and automates workflow for Partners, employers, and consumers. It does all this on one technology platform comprised of Lighthouse1™, PayDirect®, the Benny® Benefits Debit Card, Lighthouse1 OneCard™ and integrated web portals. Evolution1 and our Partners are dedicated to delivering value, reducing costs and simplifying the business of healthcare.

Highlights of the Recent Merger:

• Evolution Benefits and Lighthouse1 announced today that they are merging to create Evolution1, offering the nation's most comprehensive electronic payment, client server and cloud computing solutions for the administration of Flexible Spending Accounts (FSAs), Health Savings Accounts (HSAs), Health Reimbursement Accounts (HRAs), VEBAs, Wellness and Transit Plans
• Evolution Benefits has been among the industry’s fastest growing organizations, recognized as one of Deloitte Technology’s Fast 500 for the last five years, and Lighthouse1 has grown over 200% in the last three years
• Evolution1 will immediately serve over seven million consumers, 50,000 employers, and 400 administrators, health plans and financial institution Partners
• All members of both senior leadership teams will remain with the company. Patricelli will retire from active management of the company at closing and will become vice chairman of the board of directors. Jeff Young, Lighthouse1 CEO, will become chairman and CEO of the merged company, and Chris Byrd, currently president and chief operating officer of Evolution Benefits, will retain those responsibilities for Evolution1
• Evolution1 is committed to maintaining and investing in all of its current products, the Benny™ benefits debit card, the Lighthouse1 cloud computing software platform and the PayDirect™ client server software solution, as well as using its financial and marketplace strength to constantly develop enhancements and new products
• As Evolution1 focuses on future investments to further develop this strong platform company, we will explore new acquisitions and innovative product developments by Evolution1 that further our leadership position and revolutionize a rapidly changing healthcare market

Core Values:

• Leadership—is demonstrated by an individual who consistently steps forward to guide people through, over and around obstacles while helping team members focus and continually produce exceptional results.
• Innovative—is demonstrated in behaviors of enthusiasm, creativity and resourcefulness in providing superior solutions.
• Heart—is shown in an individual who remains a steady, positive influence on others with dependability, a passion for high quality solutions and unfailing excellence.
• Teamwork—is shown by continually demonstrating collaboration with team members and partners to collectively achieve success.
• Growth—is shown in an individual who continually focuses on increasing our partners’ and team members’ satisfaction while increasing Lighthouse1’s position in our industry.