News — October 3, 2022
bswift to be acquired by leading global investment firm, Francisco Partners
bswift is excited to share that we are being acquired by Francisco Partners!
Francisco Partners (“FP”), a leading global investment firm that specializes in partnering with technology businesses, today announced it has signed a definitive agreement to acquire bswift from CVS Health.
Since its launch over 20 years ago, Francisco Partners has invested in over 400 technology companies, making it one of the most active and long-standing investors in the technology industry. Francisco Partners has experience in the healthcare and human capital technology market and its investments have focused on companies that provide the best possible products and services for its customers and partners. Francisco Partners also has extensive experience partnering with corporations to execute divisional carve-outs with transactions such as IBM’s Watson Health business (now Merative) and Discovery Inc.’s Discovery Education business.
Justin Chen, Partner at Francisco Partners, said, “We are excited to partner with bswift and help the team continue to grow its robust technology and service offerings across benefits and healthcare. bswift is uniquely positioned as a market leader to help employers navigate the evolving industry trends and opportunities to holistically engage employees through health, wellness and financial benefits.”
bswift will continue to partner with CVS Health and Aetna, a CVS Health Company, to provide benefits technology to its employees and client base.