States John McKimm, President/CEO/CIO of SEB, "We have worked for several months with the Inforica Group management team. The fit is excellent. The partners of Inforica have very strong technology skills and bring extensive business relationships, both domestic and international, that can significantly enhance business opportunities for SEB. The synergies between the companies cross every facet of SEB and Inforica operations. Upon Closing the transaction, the companies will also co-locate significant aspects of their business operations."
States Rohan D'Souza and Mario Correia, Managing Directors of Inforica, "Inforica has extensive experience in healthcare and supply chain environments. We have very robust infrastructure both in Canada and India. The SEB Group of companies creates business opportunities that allow a more full utilization of the Inforica infrastructure. The market opportunities for Inforica include both the SEB Group's internal operations and SEB Group clients. Additionally, the Executive Management of the SEB Group have extensive experience and success in building companies. Inforica has a number of very exciting initiatives where having this experience and expertise, together with being part of a larger group of companies, are expected to materially improve Inforica's bid success ratio. We have worked closely with SEB Group management over the past few months and are excited about the opportunities together. We are very much looking forward to a positive working relationship and an even closer business relationship."
SEB is a technology company providing software, solutions and services specializing in managing group benefit solutions and healthcare claims processing environments for corporate and government clients. This is a $56.0 billion industry, of which over $33.0 billion relates to employee group benefit plans and over $23.0 billion relates to other healthcare benefit claims (e.g.: workers compensation claims, travel benefits, various federal and provincial government programs, dental associations, drug associations, etc.) In the employee group benefits industry, SEB operates a licensed third party administrator ("TPA") and insurance broker utilizing its software platform to provide "totally hosted PCI compliant supply chain solutions" for managing the complete group benefits business processes between insurers, clients, brokers, consultants, technology service providers and healthcare service providers. In healthcare claims processing, SEB also operates as a systems integrator utilizing its technology platform together with other technologies to provide customized solutions for highly specialized environments (e.g.: travel claims, etc.). The technology and expertise deployed in this healthcare area also allows SEB to provide other related supply chain, systems integration and human resource solutions and services to the same clients.
This news release is intended for information purposes only. Statements made in this news release may contain "forward-looking" information about the company's future business prospects. These statements while expressed in good faith and believed to have a reasonable basis - are subject to risk and uncertainties that could cause actual results to differ materially from those set forth or implied by such forward-looking statements. Investors should consult a professional advisor before making any investment decision.
For further information about the Company, please visit www.seb-inc.ca.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Smart Employee Benefits Inc.
President/Chief Executive Officer
Smart Employee Benefits Inc.
Vice President, Marketing
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