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Benefits Card Firm Scoops Up Competitor

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Evolution Benefits Inc. has acquired the SmartFlex benefits debit card assets of Motivano Inc.

Motivano, New York, decided to get out of the benefits card business to focus on other products, the company says.

Motivano entered the benefits card market in 1999, and Evolution, Avon, Conn., entered the arena in 2002.

The companies are not saying how much Evolution is paying for the SmartFlex operation, but they say they have developed a plan for shifting SmartFlex customers to the Evolution system.

Evolution will emerge with more than 1 million cardholder accounts, the company says.

Evolution now runs card account programs for 175 health plans and benefit plan administrators and about 7,700 employers.