SEB Administrative Services Inc. to Launch Data Lab

SEB Administrative Services Inc. expands its group benefits digital offerings with the addition of Mednow’s Virtual Pharmacy and Telemedicine Solutions Platform.

Mississauga, May 1, 2024 – SEB Administrative Services Inc. (“SEB”) a wholly owned subsidiary of Smart Employee Benefits Inc., a leading provider of innovative technology and services for employee benefits administration, and Mednow Digital Inc. (“Mednow”), a leading digital pharmacy technology company are pleased to announce their business partnership to provide access to virtual pharmacy and telemedicine services and doctor home visits for employees and their families across Canada.

Mednow will be offered as part of SEB’s FlexPlus® suite of products and will be made available to SEB’s clients and over 400,000 plan members at launch in May 2024.  Mednow Digital’s intuitive technology allows plan members, prescribers, and plan sponsors to bring their pharmacy and group benefits experience into the modern era with easy-to-use web and mobile-based applications.

The integration of Mednow into SEB’s suite of product offerings will provide both existing and new employers robust, cost-effective, and high value-added pharmacy and other healthcare solutions for their employees. Digital pharmacy and enhanced pharmacy access is becoming a mainstream healthcare solution. Pharmacies are the most accessible healthcare infrastructure and Pharmacists are the most underused resource in healthcare. Pharmacies and ‘virtual Medical Care will play a much larger role in healthcare for Canadians.

States Mohamad El Chayah, President & COO of SEB and President & CEO of SEB Administrative Services, “We are thrilled to make available to our clients and channel partners pharmacy solutions that give Canadians user friendly, highly cost-effective real-time health care solutions. We recognize the importance of real time access to treatment and care for our current and future plan members. Mednow Digital Pharmacy revolutionizes the pharmacy experience in Canada by offering an entirely virtual platform, with services that encompass multiple functionalities, from chatting with pharmacists to managing and receiving medications, to home care visits. Pharmaceuticals represent 40% to 50% of every group benefit plan in Canada. Mednow Digital pharmacy solutions provide highly cost-effective real-time health care solutions for our clients and channel partners. The integration of Mednow Digital solutions into the FlexPlus ecosystem furthers SEB quest to cost effectively and efficiently provide unique, leading edge, high value group benefits solutions for our clients. Mednow digital pharmacy solutions will be incorporated into SEB’s ISO 27001 certified and SOC2 compliant cloud infrastructure supported by over 500 group benefits and technology specialists. SEB looks forward to a long-term business and equity partnership with Mednow Digital in building unique healthcare services focused on improving the health and well being of Canadians.”

The Mednow platform differentiates itself by offering plan members an intuitive digital experience and a vast network of pharmacy partners across Canada to support quick fulfillment and quality clinical services such as health and drug counselling, medication reviews, or condition-specific care such as diabetes coaching, prescriptions for minor common ailments, a growing category of conditions for which pharmacists can now prescribe medications to treat.

Mednow provides value for all stakeholders:

• For Plan Members: Mednow offers convenient and private access to pharmacists and direct home delivery of pharmacy products. The platform enables patients to build ongoing relationships with pharmacists who deeply understand their health plans and needs.
• For Healthcare Providers: Mednow is a tool for better outcome management, ensuring optimal drug adherence and streamlined claims reimbursement.
• For Plan Sponsors: Mednow’s platform offers cost efficiencies for plan management through controlled medication supply, adherence to formularies, and optimized pharmacy processes. This approach reduces prescription costs, improves health outcomes, and lowers healthcare expenses.

States Dave Marantz, CEO of Mednow Digital, “The business partnership with SEB further expands Mednow’s distribution channel and makes Mednow’s digital pharmacy platform available to plan sponsors and plan members of some of Canada’s leading companies. We look forward to working closely with SEB and further developing solutions that will improve the digital healthcare experience and support better drug plan management for group benefits.”

About Mednow Digital

Mednow Digital is a healthcare technology company offering virtual access with a high standard of care. Designed with accessibility and quality of care in mind, Mednow Digital provides virtual pharmacy and telemedicine services as well as doctor home visits through an interdisciplinary approach to healthcare that is focused on the patient experience. Mednow Digital’s services include free at-home delivery of medications, doctor consultations, a user-friendly interface for easy upload, transfer, and refill of prescriptions, access to healthcare professionals through an intuitive chat experience and the specialized PillSmart™ system that packages prescriptions in easy-to-use daily dose packs, each labelled with the date and time of the next dose.

For more information about Mednow, visit www.mednow.ca.

About SEB Administrative Services Inc.

SEB Administrative Services Inc. (“SEB Admin”), a wholly owned subsidiary of Smart Employee Benefits Inc. (“SEB”), is a third-party administrator (“TPA”) providing leading edge cloud-based, fully bilingual, benefit processing solutions using SEB Admin’s proprietary and customized technologies, solutions and services.  SEB Admin’s “FlexPlus” platform provides single sign-on connectivity for all group benefit stakeholders. SEB Admin has over 400,000 plan members under administration representing more than $1B of premium. FlexPlus cloud-enabled solutions support all plan designs – traditional, flex, cafeteria, hour bank, dollar bank, marketplace and can be delivered as co-sourced, fully outsourced or SaaS. SEB FlexPlus solutions operate in an ISO 27001 Certified environment with in SOC2 compliant cloud infrastructure.

For further information about SEB Administrative Services Inc., please visit: www.seb-admin.com.

About Smart Employee Benefits Inc.

SEB is an Insurtech company focused on 3 service lines: ITS, BPS, PS. SEB is a proven provider of leading-edge IT and benefits processing software, solutions and services for the Life and Group benefits marketplace and government. SEB designs, customizes, builds and manages mission critical, end-to-end technology, people and infrastructure solutions using SEB’s proprietary technologies and expertise of partner technologies. SEB manages mission critical business processes for over 150 blue chip and government accounts.

For more information, please visit:  www.seb-inc.com.

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