Metavante to Acquire MBI
Metavante announced this morning the signing of a definitive merger agreement to acquire Med-i-Bank (MBI) for $145 million.
MBI is a leading provider of electronic payment services for employee benefit and consumer-directed health care accounts. MBI's Flexible Spending Account (FSA), Health Reimbursement Arrangement (HRA) and Health Savings Account (HSA) solutions are currently used by approximately 200 third-party administrators (TPAs) and health plans that service over 15,500 employers and approximately 1.3 million employee accounts. The company was founded in 1995 and employs approximately 70 persons.
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