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Member, Beacon International Group, Ltd.
TORONTOMorneau Sobeco, a large Toronto-based benefit consulting and outsourcing company, is acquiring Heath Benefits Consulting Inc. in Vancouver, British Columbia.
The acquisition, Morneau Sobecoe says, will solidify its position as the largest Canadian-owned benefit consulting and outsourcing firm in the country. Morneau Sobeco has about 950 employees, while employee-owned Heath has just over 90 employees, mostly in Vancouver and Calgary, Alberta.
Morneau Sobeco executives say the acquisition, expected to close at the end of May, will be strategically important, enabling the company to grow significantly in western Canada while also boosting its presence in Calgary and Ottawa.
Morneau Sobeco expects the purchase price to be about $15.5 million.