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WEX Health Strengthens Position as an Industry Leader

FARGO, N.D.--(BUSINESS WIRE)--Mar. 23, 2017-- WEX Health, a WEX Company and an award-winning healthcare financial technology platform provider, further solidified its leadership position in 2016 in terms of growth and services:

  • WEX Health Cloud facilitated billions of dollars in reimbursements and processed more than 250 million transactions, all with an uptime of 99.99 percent over the past four years.
  • Product releases delivered more than 200 key enhancements, extending WEX Health’s unique leadership position.
  • The WEX Health Cloud mobile app continues strong year over year growth and was downloaded more than a million times in 2016, with eight out of the top 10 HSA apps in the App Store powered by WEX Health. The mobile app continues as a leader in innovation, value, and technology in the market.
  • The number of consumers on the WEX Health platform grew to more than 24 million, with WEX Health now powering more than 225,000 employer groups.
  • WEX Health is a leader in the HSA Market with nine of the Top 20 HSA providers powered by WEX Health, and more HSAs utilizing WEX Health technology than any other. Additionally, HSA Bank, a WEX Health Partner, grew well beyond two million accountholders in 2016.
  • WEX Health executives shared thought leadership, insight, and expertise by speaking at industry conferences and by being featured in regional and national media, including: Becker’s Health IT & CIO Review, BenefitsPRO, Business News Daily, CNBC, Cincinnati Business Courier, Employee Benefit News, Forbes, HR Dive, HR Magazine, HR.com, Health Plan Week, HealthLeaders, Modern Healthcare, Newsday, Paybefore, SHRM, and The Hill.
  • WEX Health played a key role in the recent enactment of the 21st Century Cures Act, which brings healthcare relief to small businesses.

“It was another incredible year for WEX Health, and more importantly, for our Partners and the employer groups, and ultimately the consumers, they serve,” said Jeff Young, senior vice president and general manager of WEX Health. “Together with our Partners, we simplify the business of healthcare, and our tremendous success is a result of our Partners’ hard work, dedication, and determination.”

WEX Health continues building key relationships with third-party administrators, health plans, financial institutions, exchange Partners, and payroll providers, including CoreSource, Inc., HSA Bank, a division of Webster Bank, N.A., Kaiser Permanente, Paychex, and Fifth Third Bank.

WEX Health Partners will gather April 25-27 at The Diplomat Beach Resort for Partner Conference 2017, the industry’s go-to event.

About WEX Health
We simplify the business of healthcare through WEX Health Cloud, a cloud-based healthcare financial management platform that drives efficiency for benefit administration technology, consumer engagement, and advanced billing and payments. Our partner organizations enable us to deliver our industry-leading and award-winning solution to 225,000 employers and more than 24 million consumers. Together we take the complexity out of defined contribution, HSAs, HRAs, FSAs, VEBAs, PRAs, premium billing, public and private health insurance exchanges, COBRA, wellness plans, and transit plans. Learn more at www.wexhealthinc.com, and follow WEX Health at @WEXHealthInc.

About WEX Inc.
WEX Inc. (NYSE: WEX) is a leading provider of corporate payment solutions. From its roots in fleet card payments beginning in 1983, WEX has expanded the scope of its business into a multi-channel provider of corporate payment solutions representing more than 10 million vehicles and offering exceptional payment security and control across a wide spectrum of business sectors. WEX serves a global set of customers and partners through its operations around the world, with offices in the United States, Australia, New Zealand, Brazil, the United Kingdom, Italy, France, Germany, Norway, and Singapore. WEX and its subsidiaries employ more than 2,500 associates. The Company has been publicly traded since 2005, and is listed on the New York Stock Exchange under the ticker symbol “WEX.” For more information, visit www.wexinc.com and follow WEX on Twitter at @WEXIncNews.

Source: WEX Inc.

News Media Contact:
WEX Health
Tiffany Wirth, 701-499-7215
twirth@evolution1.com

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding WEX Inc.'s business which are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in the Company's Annual Report or Form 10-K for the most recently ended fiscal year.

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