Acquisition of Buffett & Company deepens commitment to improving the
health of Canadian employees
TORONTO, April 13 /CNW/ - Sun Life Assurance Company of Canada ("Sun
Life") today announced it has agreed to acquire full ownership of
Buffett & Company Worksite Wellness Inc. (Buffett & Company). Buffett &
Company is a pioneer in evidence-based workplace wellness programs in
Canada and this acquisition will significantly strengthen Sun Life's
leadership and growth capabilities in supporting employee and
organizational health. Sun Life has held a 36 per cent stake in Buffett
& Company since 2008.
"Buffett & Company has a stellar reputation and we are proud to add its
industry-leading capabilities to Sun Life," said Stuart Monteith,
Senior Vice-President, Group Benefits, Sun Life Financial Canada.
"Health is an important issue in business today. This acquisition will
put Sun Life at the forefront of the workplace wellness movement,
enabling us to deliver leading edge programs and services to help
employers create healthier, more productive workplaces."
Founded in 1981, Buffett & Company is a leading provider of
comprehensive worksite wellness programs and consulting services.
Operating across Canada, it works with a broad spectrum of public and
private sector clients and provides services ranging from preliminary
health assessment to strategy development and on-site program delivery.
"We are pleased to be joining Sun Life as we have a shared commitment to
improving the health of Canadian employees," said Janet Young, head of
Buffett & Company. "The two companies have had a strong relationship
for many years through our founder Ed Buffett, a visionary in the
worksite wellness business. Ed built Buffett & Company into a leading
provider of these programs in Canada."
According to the Sun Life Financial Canadian Health Index(TM) released
in December 2010, almost 60 per cent of Canadian employees exhibit
three or more unhealthy behaviours. This means a large number of
today's workforce may be at risk for health issues in the future and
employers remain ideally positioned to break down the barriers through
workplace wellness programs. The study also revealed that six in 10
Canadians believe their employer has some responsibility when it comes
to their health.
"We are excited to be building on the strong momentum of Buffett &
Company and our own HealthyRETURNS program," said Monteith. "We look
forward to bringing more innovative, client- centred solutions to the
marketplace and raising the profile of workplace wellness in Canada."
Sun Life Assurance Company of Canada is a subsidiary of Sun Life
Financial Inc. Terms of the acquisition were not disclosed and the
transaction is subject to regulatory approval and customary closing
Please see our Health and Wellness Fact Sheet for more information.
About Sun Life Financial
Sun Life Financial is a leading international financial services
organization providing a diverse range of protection and wealth
accumulation products and services to individuals and corporate
customers. Chartered in 1865, Sun Life Financial and its partners today
have operations in key markets worldwide, including Canada, the United
States, the United Kingdom, Ireland, Hong Kong, the Philippines, Japan,
Indonesia, India, China and Bermuda. As of December 31, 2010, the Sun
Life Financial group of companies had total assets under management of
$464 billion. For more information please visit www.sunlife.com.
Sun Life Financial Inc. trades on the Toronto (TSX), New York (NYSE) and
Philippine (PSE) stock exchanges under the ticker symbol SLF.
Note to Editors: All figures in Canadian dollars.
SOURCE Sun Life Financial Inc.
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