Morneau Shepell announced today the entering into a definitive agreement to acquire all of the outstanding shares of LifeWorks Corporation Ltd. The transaction is subject to customary conditions and is expected to close in late July 2018.
“This acquisition is aligned with Morneau Shepell’s global growth strategy as well as our focus on technology innovations to create added value for our clients and their employees,” said Stephen Liptrap, President and Chief Executive Officer of Morneau Shepell. “This is a tremendous opportunity to grow our U.S. and global footprint, while building on our technology footprint to create integrated user experiences.”
“LifeWorks brings significant, complementary strengths into our employee assistance program (EAP) business,” said Rita Fridella, Executive Vice-President, Morneau Shepell and President, Employee Support Solutions.
“Morneau Shepell is deeper in the clinical treatment side of workplace health with a strong technology platform. LifeWorks brings an integrated platform focused on EAP, employee engagement, rewards and recognition, and HR communications. Together we create an enhanced integrated employee experience.”
“LifeWorks’ goal is to positively impact the health and well-being of employees globally with our cutting edge technology. This transaction brings us one large step closer to this goal,” said Jamie True, Chief Executive Officer of LifeWorks. “Our more than 500 employees will become a fundamental part of the Morneau Shepell team. LifeWorks’ well-being service and platform combined with Morneau Shepell’s recognized clinical strength and award-winning employee support solutions cements our position as the leading employee well-being power brand.”
Morneau Shepell is already a market leader in Canada with a growing presence in the U.S. and international strength through the Company’s growth in key emerging markets. The Acquisition will bolster the Company’s geographic footprint through LifeWorks’ established presence in the U.S., U.K., Australia and Canada.