Compass Professional Health Services has been acquired by Alight Solutions, the two sides announced on Wednesday. Dallas-based Compass Health Services builds technology-fueled products that help everyday consumers navigate healthcare, contracting with employers to reach their employees.
Compass, which has about 250 employees of its own, will continue to be based in Dallas and will be led by existing President Adam Johnson. CEO Scott Schoenvogel will not be with the company following the deal, Chief Marketing Officer Peter Hegi tells me. Employee count here is not expected to be impacted in the short-term but could grow incrementally over time, Hegi says. Terms of the deal were not disclosed.
Based in the Chicago suburb of Lincolnshire, Illinois, Alight is a massive provider of benefits administration and HR solutions, serving about half the Fortune 500 with more than 22,000 worldwide employees. It recorded $2.3 billion in revenue in 2016 before it was taken private during a spin-off from Aon Hewitt.
Compass Health Services was on the Inc. 5000 in 2015, having recorded 2014 revenue of $27.1 million and grown by an impressive 470 percent over the prior three years. I can’t find a mention of the company’s revenue since then, and it declined to provide it for this story.
It is worth noting, however, that Compass had nearly 2,000 clients a couple years ago, and that today it says it has about 1,700. Despite that, Hegi says Compass has continued to register revenue growth since appearing on Inc.’s list.
Compass will fold into Alight’s “health and wealth” division, which encompasses health and wellness but also services relating to benefits and 401K.
Compass’ local clients include Southwest Airlines and Michaels Stores. It also contracts with several local governments in the area, including Fort Worth, Frisco, Plano, and Grand Prairie.