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The Green Shield Benefits Association, part of the Green Shield Canada group of companies, is acquiring Benecaid Health Benefit Solutions Inc.

The company’s current leadership team will continue to operate the business under the Benecaid brand, according to a press release.

“Benecaid’s track record of service excellence, growth and innovation, including its Honeybee digital platform, make an excellent fit with GSC and will open a new world for our clients and partners to access both traditional and new insurance solutions,” said Zahid Salman, president and chief executive officer of GSC, in the release.

Read: New DC-style benefits platform available to employers, advisors

Peter Berczi, president and CEO at Benecaid, said synergies across platforms, distribution channels and human resources make the acquisition “truly a win-win” for the two companies.

Berczi and David Katz, executive vice-president of corporate development at Benecaid, will join GSC’s leadership team as part of its benefits management division under the direction of Rino Rondinone, executive vice-president of benefits management and technology.

Copyright © 2021 Transcontinental Media G.P. Originally published on benefitscanada.com

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