LifeWorks Inc. is acquiring Benestar, an employee assistance program from Australia-based Cover-More Group.
In addition to the acquisition, LifeWorks will provide certain EAP services for global clients of Zurich Insurance Group, Cover-More’s parent company, on a non-exclusive basis, according to a press release.
Read: Telus acquiring LifeWorks for $2.9 billion
“Benestar and LifeWorks are a natural fit based on our holistic and proactive approaches to workplace well-being and because of our shared commitment to our clients,” said Jamie MacLennan, senior vice-president and managing director for Asia-Pacific at LifeWorks, in the release.
In other news, Telus Corp.’s acquisition of LifeWorks has passed two key regulatory hurdles. The Ontario Superior Court of Justice granted its final order approving the acquisition, while the Competition Bureau of Canada issued a no-action letter regarding the $2.9 billion transaction.