Evolution Benefits Finalizes Merger With Lighthouse1
Avon-based Evolution Benefits Inc. said Monday it finalized its merger with Lighthouse1 of Minneapolis to form a company that serves 7 million customers. The merger was first announced in April. Evolution Benefits makes benefits cards used for paying out-of-pocket health insurance expenses. The best known of their products is the Benny Prepaid Benefits Card, which is a special-purpose MasterCard or Visa. Evolution Benefits was acquired in July 2010 by San Francisco-based priv