The Canada Life Assurance Company (Canada Life), a subsidiary of Great-West Lifeco Inc., has reached an agreement to acquire ClaimSecure Inc. (ClaimSecure), an industry-leading healthcare management firm that provides health and dental claim management services to private and public businesses in Canada. This transaction is subject to customary closing conditions, including receipt of regulatory approvals, and is expected to close in the third quarter of 2021.
Through this transaction, Canada Life is further investing in workplace capabilities in Canada, a core strategic focus for Great-West Lifeco. This acquisition increases the number of plan members served by Canada Life by 1.25 million individuals, including plan members and their dependents, with annual claims payments of more than CAD$1.2 billion.
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