Sun Life is buying DentaQuest, a U.S.-based provider of dental benefits, for $3.1 billion.
The company, which offers dental benefits through employers, will become part of Sun Life’s U.S. business. The insurer said the acquisition will more than double the size of its U.S. employee benefits business by revenue. DentaQuest currently has more than 33 million members in 36 U.S. states and about 2,400 employees.
In a press release, Kevin Strain, Sun Life’s chief executive officer, said the acquisition is consistent with its strategy of focusing on health and group benefits in the U.S. The transaction is expected to close in the first half of next year.
Meanwhile, People Corporation is acquiring digital wellness engagement solution BestLifeRewarded Innovations. Launched in 2010, the wellness solution now serves more than 12,000 Canadian companies and nearly four million Canadians.
“People Corporation and BLRI share a common commitment to improving the lives of working Canadians including their overall health and well-being,” said Laurie Goldberg, People Corporation’s chief executive officer, in a press release.
“This partnership adds the member engagement component to our broad suite of solutions through a vast national network of consulting teams and advisor partners. BLRI joining People Corporation adds to our scale and capability and significantly extends our health and wellness solutions.”