Morneau Shepell enhances position as the leading EFAP provider in Canada with acquisition of Solareh
Dec 20, 2016
Additional resources for both employee assistance programs and absence management now available to serve organizations in Quebec and nationally
TORONTO, Dec. 20, 2016 /CNW/ - Morneau Shepell (the "Company" or "Morneau Shepell") (TSX: MSI), a leading human resources consulting and technology firm and Canada's largest provider of employee and family assistance programs (EFAPs), today announced that it has completed the acquisition of Solareh, a national health and wellness services provider based in Montréal.
"Solareh offers services that support a successful recovery and return to work, wellness and training programs, as well as EFAPs," said Julien Ponce, Morneau Shepell's Executive Vice President, Eastern Canada and National Leader of the Consulting Practice. "The acquisition will leverage the skills, knowledge and experience of both the Morneau Shepell and Solareh teams to promote effective and efficient clinical best practices in EFAPs, absence management and other health and wellness services for our clients."
"When I made the decision to retire in 2017, I had to think about the future as Solareh's majority owner, and joining Morneau Shepell is a solid step forward in enhancing the services we provide to our clients," said Marie-Thérèse Dugré, President and General Manager of Solareh. "Solareh clients will gain access to Morneau Shepell's technology and worldwide presence, and Morneau Shepell will benefit from an experienced team of employees who have consistently provided a high quality of service to their clients."
Rita Fridella, Executive Vice President, Morneau Shepell, and General Manager, Employee Support Solutions, added that the acquisition is aligned with the Company's growth strategy. "Solareh's reputation will further solidify Morneau Shepell's position as the leading EFAP provider in Quebec, as well as the largest provider of employee assistance programs and integrated absence management solutions in Canada."
"We are committed to ensuring this will be a seamless transition for Solareh clients," said Sylvain Authier, Vice President EFAP, Quebec and Atlantic regions, Morneau Shepell. "With the purchase, Solareh clients will see no interruption in their service, and will continue to benefit from Solareh's clinical network."
This acquisition represents less than two percent of Morneau Shepell's revenue and is not expected to have a material impact on the Company's financial performance.
About Morneau Shepell Inc.
Morneau Shepell is the only human resources consulting and technology company that takes an integrative approach to employee assistance, health, benefits and retirement needs. The Company is the leading provider of employee and family assistance programs, the largest administrator of retirement and benefits plans and the largest provider of integrated absence management solutions in Canada. Through health and productivity, administrative, and retirement solutions, Morneau Shepell helps clients reduce costs, increase employee productivity and improve their competitive position. Established in 1966, Morneau Shepell serves approximately 20,000 clients, ranging from small businesses to some of the largest corporations and associations in North America. With almost 4,000 employees in offices across North America, Morneau Shepell provides services to organizations across Canada, in the United States, and around the globe. Morneau Shepell is a publicly-traded company on the Toronto Stock Exchange (TSX: MSI). For more information, visit morneaushepell.com.
SOURCE Morneau Shepell - Corporate
For further information: Cathren Ronberg, Morneau Shepell, Tel: 416.355.5632, firstname.lastname@example.org; Marie-Thérèse Dugré, Solareh, Tel: 514.744.3354 ext. 222, email@example.com