LifeWorks acquires Netherlands-based mental health and wellbeing provider, Ascender
Key highlights of the acquisition include:Headquartered in the Netherlands, Ascender’s highly experienced team of 38 employees and approximately 40 freelancers will join LifeWorks and continue to operate out of its 25 locations across the Netherlands, with existing clients seeing their services continue uninterrupted.As Ascender is integrated into LifeWorks global operations, it will operate in the Netherlands on a largely standalone basis, servicing clients throughout the Benelux region.Ascender operated first as a combination of network partners 25 years ago and merged to become Ascender in 2009. It is one of the most respected providers in the corporate wellbeing market in the Netherlands and has a strong roster of approximately 150 clients with an average tenure of 10 years.The acquisition will leverage the skills, knowledge and experience Ascender’s teams and services that include psychological services related to health@work, employee assistance programmes, counselling, and training through a team of highly credentialed psychologists, while giving Ascender access to LifeWorks clinical best practices, digital technology and worldwide presence.With Ascender’s strong track record of growth, local knowledge and clinical expertise, the move will allow LifeWorks to continue to expand its total wellbeing solutions to domestic European markets, and harness its existing relationships with insurance providers, hospitals and care companies as well as (multi)nationals working out of the Netherlands post-Brexit.
Comments from Philip Mullen, managing director, United Kingdom and Europe at LifeWorks:
“Throughout the pandemic we have witnessed a huge appetite amongst multinationals and local companies to support the total wellbeing of employees that are now spread across the world. The acquisition of Ascender will not only strengthen our presence in this region, but in addition, given Ascender offers a full suite of clinical expertise and research, our hope is that the company’s insight on psychological wellbeing can further enhance our customer offering on a global level.”
Comments from Moniek Vossenaar, managing director, Ascender:
“Joining LifeWorks represents an important step for Ascender’s growth, the services we provide and the opportunities for our employees. The companies have a shared goal to improve the total wellbeing of our clients’ employees, and shared values of long-term relationships, treating others the way we want to be treated, and being innovative and entrepreneurial. We’re positive this acquisition will be beneficial to both companies and all parties involved.”
This acquisition represents approximately one per cent of LifeWorks revenue and is not expected to have a material impact on the company’s financial performance in 2021.
LifeWorks is a world leader in providing digital and in-person solutions that support the total wellbeing of individuals. We deliver a personalised continuum of care that helps our clients improve the lives of their people and by doing so, improve their business.
Founded in 2009, Ascender is one of the top three players in the corporate wellness market in the Netherlands and has a strong roster of approximately 150 clients with an average tenure of 10 years. Headquartered in the Netherlands, Ascender hash 25 locations across the country, 38 employees and approximately 40 freelancers. The company offers psychological services related to health@work, EFAP, counselling, and training/coaching through a team of psychologists, on a fee for service basis.
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