Morneau Shepell further solidifies its EFAP leadership position with acquisition of Longpré
Jan 10, 2017
Organizations in Quebec benefit from enhanced resources for employee
assistance programs and wellness initiatives
TORONTO, Jan. 10, 2017 /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 Longpré, an EFAP and wellness program provider based in Montreal. This follows the December 20, 2016 acquisition of Solareh, a national health and wellness services provider based in Montreal.
"Longpré's services are focused on promoting a healthy lifestyle to stave off illness and absenteeism, as well as providing support for employees and their families when they face challenges," said Julien Ponce, Morneau Shepell's Executive Vice President, Eastern Canada and National Leader of the Consulting Practice. "These services, along with Longpré's strong clinical network, complement the EFAP work Morneau Shepell has been doing in Quebec."
"Joining Morneau Shepell is a leap forward in terms of Longpré's long-term growth and the services provided to our clients," said Anne-Marie Longpré, President and Chief Executive Officer of Longpré. "The acquisition gives Longpré access to Morneau Shepell's clinical best practices, technology and worldwide presence, and it gives Morneau Shepell an experienced team of employees that has consistently provided a high quality of service to clients. Our focus now is on making the transition for Longpré clients an easy one."
Rita Fridella, Executive Vice President Morneau Shepell, and General Manager, Employee Support Solutions, highlighted the strategy behind the purchase. "Joining forces benefits both organizations as well as the employees and, most importantly, our clients. Moreover, Longpré's reputation will further solidify Morneau Shepell's position as the leading EFAP provider in Quebec, especially in conjunction with our recent acquisition of Solareh."
"We look forward to working with the Longpré team and their clients, who will continue to benefit from the same high quality of care and support from the people who know them and their business," said Sylvain Authier, Morneau Shepell's Vice President of EFAP for Quebec and Atlantic regions.
This acquisition represents less than one per cent of Morneau Shepell's revenue and is not expected to have a material impact on the Company's financial performance.
About Morneau Shepell
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, Email: email@example.com