reports
Announcing the Effective Date of a Make-Whole Fundamental Change
Announcing the Effective Date of a Make-Whole Fundamental Change CHARLESTON, S.C., Jan. 24, 2023 (GLOBE NEWSWIRE) -- Reference is made to the Indenture, dated as of December 27, 2018 (the “Indenture”), between Benefitfocus, Inc., a Delaware corporation (“Benefitfocus”) and U.S. Bank Trust Company, National Association, a national banking association, as Trustee (the “Trustee”), relating to Benefitfocus’ 1.25% Convertible Senior Notes due 2023 (the “Notes”). Approximately $6.8 million in Notes remain outstanding. Capitalized terms used but not defined herein shall have the respective meani...
Benefitfocus Shareholders Approve Merger with Voya Financial
Benefitfocus Shareholders Approve Merger with Voya Financial CHARLESTON, S.C., Jan. 20, 2023 (GLOBE NEWSWIRE) -- Benefitfocus, Inc. (NASDAQ: BNFT) announced that at a special meeting today, Benefitfocus’s stockholders approved the previously announced merger agreement related to the proposed acquisition of Benefitfocus by Voya Financial, Inc. Subject to the terms and conditions of the merger agreement, at the effective time of the merger, each share of Benefitfocus common stock will be cancelled and converted into the right to receive $10.50 in cash. The transaction remains subject to ce...
Benefitfocus’ ACA Compliance Solution to be Offered as an SAP Solution...
Benefitfocus’ ACA Compliance Solution to be Offered as an SAP Solution Extension More U.S. Employers Seeking Better Ways to Manage ACA Compliance and Reduce Risk CHARLESTON, S.C., Dec. 19, 2022 (GLOBE NEWSWIRE) -- (NASDAQ: BNFT), a cloud-based benefits administration technology company committed to helping organizations and the people they serve get the most out of their health care and benefit programs, today announced that its ACA compliance solution will be sold as an SAP Solution Extension under the name SAP U.S. Benefits Administration by Benefitfocus, reporting option for the Aff...
Benefitfocus Announces Third Quarter 2022 Financial Results
Benefitfocus Announces Third Quarter 2022 Financial Results CHARLESTON, S.C., Nov. 07, 2022 (GLOBE NEWSWIRE) -- (NASDAQ: BNFT), an industry-leading cloud-based benefits administration technology company that serves employers, health plans and brokers, today announced its third quarter 2022 financial results: Financial Highlights for the Third Quarter 2022: Revenue of $56.2 million was within the guidance range of $55 million to $57 million.Adjusted EBITDA of $5.7 million was at the high end of the guidance range of $4 million to $6 million.GAAP net loss available to common stockhol...
Benefitfocus Cancels Third Quarter 2022 Earnings Conference Call
Benefitfocus Cancels Third Quarter 2022 Earnings Conference Call CHARLESTON, S.C., Nov. 01, 2022 (GLOBE NEWSWIRE) -- (NASDAQ: BNFT), an industry-leading cloud-based benefits administration technology company that simplifies benefits administration for employers, health plans and brokers, today announced the cancellation of its earnings conference call for the quarter ended September 30, 2022, that had originally been scheduled for November 7, 2022, at 5:00 p.m. ET. The call is being cancelled due to the announcement of the pending transaction with Voya Financial, Inc. About Benefitfocus...
State of Alabama’s Local Government Health Insurance Board Selects Ben...
State of Alabama’s Local Government Health Insurance Board Selects Benefitfocus for Employee Benefits Administration Modernization Benefitfocus to administer health benefits for more than 30,000 members and their families CHARLESTON, S.C., Oct. 27, 2022 (GLOBE NEWSWIRE) -- (NASDAQ: BNFT), a cloud-based benefits administration technology company committed to helping organizations and the people they serve get the most out of their health care and benefit programs, today announced it was awarded a contract supporting the Local Government Health Insurance Board’s (LGHIB) efforts to modern...
Benefitfocus Announces Date of Third Quarter 2022 Financial Results
Benefitfocus Announces Date of Third Quarter 2022 Financial Results CHARLESTON, S.C., Oct. 24, 2022 (GLOBE NEWSWIRE) -- (NASDAQ: BNFT), an industry-leading cloud-based benefits administration technology company that simplifies benefits administration for employers, health plans and brokers, today announced it will report its third quarter 2022 results after U.S. financial markets close on Monday, November 7, 2022. In conjunction with the company’s third quarter 2022 announcement, Benefitfocus will host a conference call to discuss the company’s financial results and business outlook on ...
Benefitfocus Named a 2022 BenefitsPRO Luminaries Honoree
Benefitfocus Named a 2022 BenefitsPRO Luminaries Honoree CHARLESTON, S.C., Oct. 24, 2022 (GLOBE NEWSWIRE) -- (NASDAQ: BNFT), a cloud-based benefits administration technology company committed to helping organizations and the people they serve get the most out of their health care and benefit programs, today announced it has been named as a 2022 BenefitsPRO Luminaries honoree in the Humanizing Benefits category. The BenefitsPRO Luminaries awards celebrate top benefits professionals and organizations that strive to transform the benefits business and set an example within the industry. “E...
Benefitfocus Poised to Deliver Enhanced Open Enrollment Experience to ...
Benefitfocus Poised to Deliver Enhanced Open Enrollment Experience to Benefits Leaders CHARLESTON, S.C., Oct. 20, 2022 (GLOBE NEWSWIRE) -- (NASDAQ: BNFT), a cloud-based benefits administration technology company committed to helping organizations and the people they serve get the most out of their health care and benefit programs, has taken several steps to support a seamless open enrollment experience this fall. These include new features, resources and enhancements to its Benefitplace™ platform that are designed to enhance the user experience and further reduce administrative complexit...
Benefitfocus Offers Benefits Managers Helpful Tips for a Successful Op...
Benefitfocus Offers Benefits Managers Helpful Tips for a Successful Open Enrollment Season CHARLESTON, S.C., Sept. 29, 2022 (GLOBE NEWSWIRE) -- For many U.S. employers, open enrollment (OE) season is right around the corner. According to experts from Benefitfocus, (NASDAQ: BNFT), a cloud-based benefits administration technology company committed to helping customers and the people they serve get the most out of their health care and benefit programs, preparation is key to ensuring a successful enrollment. “Benefits are a critical piece to ensuring individuals have access to the care they...
Benefitfocus Enhances Engagement Capabilities to Help Drive Better Out...
Benefitfocus Enhances Engagement Capabilities to Help Drive Better Outcomes and Reduce Administrative Burden CHARLESTON, S.C., Aug. 30, 2022 (GLOBE NEWSWIRE) -- (NASDAQ: BNFT), a cloud-based benefits administration technology company committed to helping customers and the people they serve get the most out of their health care and benefit programs, today announced Advanced Engagement Services, a personalized and action-oriented communications solution that helps employers and health plans create a more connected and engaging benefits experience. Benefitfocus’ Advanced Engagement Service...
Benefitfocus Agrees to Repurchase Certain of Its Outstanding Convertib...
Benefitfocus Agrees to Repurchase Certain of Its Outstanding Convertible Senior Notes Extends Debt Maturity Profile through Repurchase CHARLESTON, S.C., Aug. 26, 2022 (GLOBE NEWSWIRE) -- Benefitfocus Inc. (NASDAQ: BNFT) (“Benefitfocus” or the “Company”), an industry-leading cloud-based benefits administration technology company that simplifies benefits administration for employers, health plans and brokers, today announced that it has agreed to repurchase certain of its 1.25% Convertible Senior Notes due 2023 (the “2023 Notes”). The Company has agreed to repurchase approximately $114 mi...
Benefitfocus Announces Successful Completion of $140 Million New Senio...
Benefitfocus Announces Successful Completion of $140 Million New Senior Secured Credit Facility Extends Maturity Profile and Reinforces Liquidity Position CHARLESTON, S.C., Aug. 18, 2022 (GLOBE NEWSWIRE) -- Benefitfocus Inc. (NASDAQ: BNFT) (“Benefitfocus” or the “Company”), an industry-leading cloud-based benefits administration technology company that simplifies benefits administration for employers, health plans and brokers, today announced that it has entered into a loan agreement led by JPMorgan providing for a senior secured credit facility in the amount of $140 million (“Senior Se...
Benefitfocus Announces Inducement Grant Under NASDAQ Listing Rule 5635...
Benefitfocus Announces Inducement Grant Under NASDAQ Listing Rule 5635(c)(4) CHARLESTON, S.C., Aug. 09, 2022 (GLOBE NEWSWIRE) -- Benefitfocus Inc. (NASDAQ: BNFT) (“Benefitfocus” or the “Company”), a cloud-based benefits administration technology company committed to helping customers and the people they serve get the most out of their health care and benefit programs, today announced that, in connection with the appointment of Ed Rumzis as executive vice president and chief technology officer, and in accordance with the terms of his employment agreement with the Company, the Compensation ...
Benefitfocus Announces Second Quarter 2022 Financial Results
Benefitfocus Announces Second Quarter 2022 Financial Results Delivered on Second Quarter Financial Commitments Executing on Transformational Plan to Return to Sustainable Growth CHARLESTON, S.C., Aug. 03, 2022 (GLOBE NEWSWIRE) -- (NASDAQ: BNFT), an industry-leading cloud-based benefits administration technology company that simplifies benefits administration for employers, health plans and brokers, today announces its second quarter 2022 financial results: Financial Highlights for the Second Quarter 2022: Revenue of $56.6 million was at the high end of the guidance range of $55 t...
Benefitfocus Names Ed Rumzis as Chief Technology Officer
Benefitfocus Names Ed Rumzis as Chief Technology Officer CHARLESTON, S.C., Aug. 01, 2022 (GLOBE NEWSWIRE) -- (NASDAQ: BNFT), a cloud-based benefits administration technology company committed to helping customers and the people they serve get the most out of their health care and benefit programs, today announced Ed Rumzis will be named as its new Chief Technology Officer effective August 8, 2022. In this role, Rumzis will oversee Benefitfocus’ global engineering, platform and cybersecurity teams and lead the growth, evolution and innovation of the Benefitfocus technology portfolio. Rum...
Benefitfocus Enhances Health Insights Platform to Include Claims Audit...
Benefitfocus Enhances Health Insights Platform to Include Claims Audit and Recovery Services CHARLESTON, S.C., July 28, 2022 (GLOBE NEWSWIRE) -- (NASDAQ: BNFT), a cloud-based benefits administration technology company committed to helping customers and the people they serve get the most out of their health care and benefit programs, today announced it is offering Claims Audit & Recovery Services as an extension of its Benefitplace™ Health Insights data analytics platform. According to the American Medical Association, more than 20 percent of all medical claims contain errors, resultin...
Benefitfocus Announces Date of Second Quarter 2022 Financial Results
Benefitfocus Announces Date of Second Quarter 2022 Financial Results CHARLESTON, S.C., July 20, 2022 (GLOBE NEWSWIRE) -- (NASDAQ: BNFT), an industry-leading cloud-based benefits administration technology company that simplifies benefits administration for employers, health plans and brokers, today announced it will report its second quarter 2022 results after U.S. financial markets close on Wednesday, August 3, 2022. In conjunction with the company’s second quarter 2022 announcement, Benefitfocus will host a conference call to discuss the company’s financial results and business outlook...
Benefitfocus to Participate at J.P. Morgan 50th Annual Global Technolo...
Benefitfocus to Participate at J.P. Morgan 50th Annual Global Technology, Media and Communications Conference CHARLESTON, S.C., May 17, 2022 (GLOBE NEWSWIRE) -- Benefitfocus Inc. (NASDAQ: BNFT) (“Benefitfocus” or “the Company”), an industry-leading cloud-based benefits administration technology company that simplifies benefits administration for employers, health plans and brokers, today announced its participation in the J.P. Morgan 50th Annual Global Technology, Media and Communications Conference taking place May 23 through May 25, 2022. In addition to 1x1 meetings with investors duri...
Benefitfocus Hosts Investor Day and Provides an Update on Progress Aga...
Benefitfocus Hosts Investor Day and Provides an Update on Progress Against its Transformational Strategy Company to host Investor Day in New York City todayWill provide further details on strategy to drive growth by year end 2022Will present ongoing product and technology improvements,service investments and go-to-market strategy CHARLESTON, S.C., May 10, 2022 (GLOBE NEWSWIRE) -- Benefitfocus Inc. (NASDAQ: BNFT) (“Benefitfocus” or “the Company”), an industry-leading cloud-based benefits administration technology company that simplifies benefits administration for employers, health plan...
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