October 16, 2019 – Mississauga, ON
SEB Administrative Services Inc. (“SEB Admin”), a subsidiary of Smart Employee Benefits Inc. (TSXV: SEB), a leader in benefits administration and data processing services, has entered into an agreement with Oncidium Inc (“ONC”), to integrate Oncidium’s services and solutions (“OHGMed”) around Employee Absence and Disability Management into SEB’s benefits processing “FlexPlus” suite of solutions and services.
ABOUT THE COMBINED OFFERING:
The combined FlexPlus and OHGMed solutions streamline and automate complex Employee Absence and Disability Management processes. The solutions enable highly effective case management that reduces costs and increases productivity. Employers are continuously looking into ways to reduce absenteeism and support their employees’ wellbeing and lifestyle. The combined solutions accomplish this.
The cloud-based Integrated Absence and Disability Management solutions streamlines the life cycle of each case in one central repository, ensuring secure access to data, federated identity management and access controls providing employers, case managers, health practitioners, and insurance companies with valuable insights to make data-driven decisions. This integrated solutions offers both employers and their insurance carriers a competitive opportunity to introduce highly effective real time employee assistance and return to work programs while enhancing employee satisfaction.
The integrated solutions can be easily enhanced with SEB Admin’s “Healthy Living Portal” which provides the employee with comprehensive, state of the art, highly personalized interactive wellness and lifestyle management tools, information and benchmarking which assists the employee to be more proactive in managing their health, including their disability issues.
Mohamad El Chayah, President and CEO of SEB Admin, states, “Oncidium has a network of over 800 health care practitioners across Canada. Their several hundred corporate and government clients touch over 1.0 Million plan members. SEB Admin has worked with Oncidium over the past several years on multiple joint client opportunities. The collective integration of both companies’ services and the combination and enhancement of our technology solutions will provide both SEB Admin and Oncidium clients unique, highly cost effective and very efficient cloud-enabled Absence and Disability Management solutions. This partnering allows both companies to provide our clients with fully integrated end-to-end leading edge solutions that will better manage their absenteeism and disability costs. The partnering will also provide multiple joint marketing opportunities.”
Lu Michael Barbuto, CEO of ONC, said, “Oncidium has a long history of successfully providing its clients with Absence and Disability Management services and solutions. We have over 400 active clients across both corporate and government. The alliance with SEB Admin will enhance the ability of both companies to offer more cost effective and functional fully integrated solutions and services to each company’s existing client base. In addition, the combination will position a stronger value proposition for existing and new client opportunities. Both companies have a national reach, provide cloud-enabled, fully bilingual solutions and services. SEB’s Channel Partner strategy and strong technology infrastructure and expertise allows cost efficiencies and the delivery of highly cost effective and easily customizable solutions within a shared service technology infrastructure. We believe our collective expertise and solutions will provide clients with a unique value proposition not easily matched by competitors in the Canadian marketplace.”
ABOUT SEB ADMIN:
SEB Admin provides benefit processing solutions including Administration for all benefit plan designs (flex, cafeteria, traditional and multi-employer), adjudication, claims payment and reporting. Our technology platforms manage total business processing services for group benefit solutions and health claims processing in one, open-architecture, fully integrated, rules-based and modular environment, allowing clients to utilize separate modules or a fully-integrated solution. Our integrated platform, fully implemented, captures over 90% of processing activities in one single sign-on environment.
SEB Admin’s “One Processing Environment, All Benefit Types, One Benefit Card” cloud enabled solutions are among the most cost effective, user friendly and customizable in the industry, allowing real time reporting, analytics and fraud detection when the fully integrated platform is implemented. Our solutions provide our clients (plan members and plan sponsors) and Channel Partners end-to-end direct connectivity which enables highly cost effective control/influence over plan design and the real time analytics to make optimal decisions on the allocation of health care spend.
Our “FlexPlus” platform has 20 modules, 5 categorized in Administration, 2 as Disability/Absence management, 2 Adjudication modules, 5 Voluntary Products modules (Healthy Living, Venngo Workperks Employee Discount programs, multiple insurance products such as CI, Life, etc. and Virtual Medical with 5 more products targeted for 2020), 4 shared services modules enhancing the functionality of the other modules and 2 modules including a digital HCM solution and a wealth management solution both fully integrated with multiple payroll solutions. These modules drive more than 20 revenue models for our Channel Partners, all with our single sign on connectivity for all stakeholders.
Our processing solutions are applicable to both employer and government funded benefit programs. SEB Admin’s “One Processing Environment” with single sign on connectivity for all benefit types including health, pension and other rewards programs is unique in the industry. Our cloud-enabled solutions can be delivered via a fully outsourced, co-outsourced or SaaS model for our clients and can be provided to our Channel Partners on a “White-Label” shared service business model.
Oncidium is a Canadian based multi-disciplinary, health management company leading the way in reducing occupational absence by delivering solutions that work within our Healthcare environment to improve the health of Canada’s employees. Since 1990, Oncidium has been helping clients manage the increasing cost and human impact of illness, injury, disability, absenteeism and mental health in their workplaces. Today, we provide services to over 1.0 Million employees for both large and small employers across Canada.
Oncidium has an industry-leading technology platform that provides integrated and real-time management of occupational health services and disability cases. We use a proactive approach to planning, policy design and case management that delivers measurable outcomes that benefit employees and management. Oncidium is focused on the health of the people they support. We emphasize preventative measures to reduce risk and improve lives. We know that the longer an individual is off work, the less likely they are to return. We also know the positive health factors that are associated with success in the workplace. Our goal is to ensure that each employee receives the care and attention they deserve, on a real time basis.
The unique position that Oncidium holds among suppliers of similar services is based on 30 years of experience, consistency of service, technology, privacy, security and the advantages that a company with our expertise offers in a complex healthcare environment.
SEB is a technology company providing Business Process Automation and Outsourcing software, solutions and services to a national and global client base. SEB has a specialty growth focus in cloud enabled SaaS processing solutions for managing employer and government sponsored health benefit plans on a BPO (Business Processing Outsourcing) business model, globally. SEB currently serves corporate and government clients across Canada and internationally. Over 80% of SEB’s revenues derive from government, insurance and health care organizations. SEB’s technology infrastructure of over 650 multi-certified technical professionals, across Canada and globally, is a critical competitive advantage in supporting the implementation and management of SEB’s benefits processing solutions into client environments. SEB’s Benefits Processing Solutions can be game changing for SEB clients.
The core expertise of SEB is automating and managing business processes utilizing SEB proprietary software solutions combined with solutions of third parties through joint ventures and partnerships. SEB’s client acquisition model in benefits processing is “Channel Partnerships” where SEB processing solutions both improve cost structures and enable new revenue models for Channel Partners and clients. All SEB solutions are cloud enabled and can be delivered on a SaaS platform. SEB solutions turn cost centers to profit centers for our Channel Partners.
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.
Neither TSX Venture Exchange Inc. nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange Inc.) accepts responsibility for the adequacy or accuracy of this release.
For further information about SEB Administrative Service Inc.,
please visit: www.seb-admin.com.
For further information about Oncidium, please visit: https://www.oncidium.ca
John McKimm, President/CEO/CIO