Description
bswift was founded in 1996 as a consumer-driven health plan and transitioned to a dedicated benefits administration company in January 2000. The company developed its original web enrollment system in 1999 to support Platinum Health Care, a web-enabled health plan. However, when introduced to brokerage firms, TPAs, and employers in Chicago, the focus shifted to the enrollment technology, which gained notable interest. In the same year, bswift's enrollment system secured 2nd place out of 15,000 competitors in a national Microsoft Best E-Commerce Solution contest. This recognition and favorable market response prompted bswift to concentrate solely on online benefits enrollment and administration. In November 2014, bswift became a wholly owned subsidiary of Aetna, and following Aetna’s acquisition by CVS Health Corporation in November 2018, bswift continued as a subsidiary of CVS Health. Most recently, in November 2022, bswift was acquired by private equity funds managed by Francisco Partners, a prominent global investment firm focused on technology and technology-enabled businesses.
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