THUNDER BAY — Health e(fx), a company with Thunder Bay offices, will be taken over by Equifax, based in Atlanta, Georgia.
Health e(fx) developed software to help U.S. companies manage their compliance with the Affordable Care Act, also known as Obamacare.
It's headquartered in Minneapolis but development and technical support functions are in Thunder Bay, where there are currently 41 employees.
In 2015, the company won an RBC Innovation Award in Thunder Bay as Innovative Company of the Year.
At the time, it was said to be Thunder Bay’s fastest growing technology company.
According to the Northwestern Ontario Innovation Centre, in its early days the company innovated and advanced the critical development of key software features in the centre's Venture Vault program.
The innovation centre said Health e(fx)'s results were "nothing short of exceptional."
In 2020, CIO Review magazine described the company as the leading technology platform for Affordable Care Act compliance and reporting in the country.
In a news release, Equifax said the acquisition will strengthen its largest and fastest-growing business unit – Workforce Solutions – by adding capabilities aligned with its own Affordable Care Act management products.
"With our cloud-native technology architecture, it's easier than ever to integrate new partner capabilities quickly and securely to create leading-edge solutions," said CEO Mark Begor.
Health e(fx) co-founder and chair Andy Brown said "We are excited about the strength of services that a combined Equifax and Health e(fx) team will bring to the employer healthcare compliance market."
Health e(fx)'s leadership team will assume roles as part of Equifax Workforce Solutions.
A spokesperson told TBNewswatch "we anticipate the retention of the workforce in both Minneapolis and Thunder Bay."
In a statement Tuesday morning, Health e(fx) Senior Vice President and General Manager Michael Showalter added "Our teams are an important part of our future and as part of Equifax we will remain focused on service and growth, continuing to tap into Thunder Bay's impressive talent pool."