Sun Life strengthens leadership in workplace wellness
Acquisition of Buffett & Company deepens commitment to improving the health of Canadian employees
TORONTO - Sun Life Assurance Company of Canada announced it has agreed to acquire full ownership of Buffett & Company Worksite Wellness Inc. 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.