Sun Life Financial Inc. has completed its previously announced acquisition of U.S.-based dental benefits provider DentaQuest.
DentaQuest is now part of Sun Life’s U.S. business, which offers dental benefits through employers for their benefits plans and has an extensive national commercial dental network. The completion of the acquisition is expected to bring Sun Life U.S.’s total annual benefits revenues to more than US$7 billion, according to a press release, which noted DentaQuest currently has more than 33 million members in 36 U.S. states and roughly 2,400 employees.
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“We’re excited about the acquisition of DentaQuest and expanding our leadership into the U.S. dental benefits space,” said Kevin Strain, president and chief executive officer of Sun Life, in the release. “The addition of DentaQuest is consistent with our strategy to focus on health and group benefits in the U.S. More importantly, it supports both our purpose to help clients achieve lifetime financial security and live healthier lives and our sustainability focus on improving health and wellness outcomes for all.”