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Healthcare's Hottest No. 19: Evolution1

By Modern Healthcare
Posted: September 28, 2013 - 12:01 am ET

What it does: Evolution1 and its partners—health plans, administrators, financial institutions, insurers—provide healthcare benefit and payment services to employer groups and consumers.

How it grew to become one of healthcare's hottest: Though healthcare reform carries with it a lot of uncertainty, Jeff Brunsberg, chief market officer of Evolution1, says that disruption has been positive for his firm. “Organizations have had to make changes in technology and move faster toward newer and more capable platforms, and that's benefited our business,” he says.

Evolution1 serves more than 9 million individuals with the help of its 500 partner organizations. That's up from about 350 partners in 2011 when Web-based benefits plan administrator Lighthouse1 merged with Evolution Benefits, the developer of the Benny Prepaid Benefits Card.

Harnessing the synergy of the two systems has been a big growth driver for the newly formed company, but Jeff Bakke, chief strategy officer, credits their partners. “We've been picked by some of the best brands in the industry,” Bakke says.

19 (tie). Evolution1

Location: Minneapolis

Top executive: Jeff Young, chairman and CEO

Number of employees: 263

Annual revenue (2012): $65.9 million

Compounded revenue growth (2007-12): 35.9%

Website: www.evolution1.com





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