SOURCE: Castlight Health

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July 15, 2015 08:30 ET

Castlight Health's Enterprise Healthcare Management Solution Selected by Fifth Third Bank

SAN FRANCISCO, CA--(Marketwired - July 15, 2015) - Castlight Health, Inc. (NYSE: CSLT), the leader in enterprise healthcare management (EHM), today announced that Fifth Third Bank has selected the Castlight Enterprise Healthcare Cloud to help employees make better healthcare decisions based on price, quality, and education, and to promote employer-provided wellness programs, resulting in reduced healthcare spend.

The Castlight Enterprise Healthcare Cloud will give Fifth Third Banks' employees a 'one-stop shop' for healthcare benefits, simplifying information about their care options. Fifth Third Bank seeks to empower its employees to become healthcare consumers, to make better benefit choices, and to ultimately reduce overall healthcare spend for both the employee and the company. Additionally, Castlight Health will provide Fifth Third Bank with powerful organizational insights to optimize benefits utilization and manage costs.

Through the Castlight platform, Fifth Third Bank plans to:

  • Promote healthcare consumerism, and enable employees to make better decisions based on price, quality, and education for medical services and medications.
  • Increase employee engagement with company-sponsored wellness and related programs.

"We are honored to have Fifth Third Bank as part of our diverse family of customers," said Giovanni Colella, MD, co-founder and CEO of Castlight Health. "The Castlight Enterprise Healthcare Cloud is a perfect match for Fifth Third Bank's enterprise healthcare needs. Our EHM platform will provide their employees with what they need to become savvy healthcare consumers, and in the process, increase the quality of their healthcare experience."

"Fifth Third has approximately 14,000 employees enrolled in our benefits programs, and it was important that we could give each of them a way to simply and easily make healthcare choices that worked for them and their families," said Chris Sonneman, senior vice president and director of Total Rewards at the Bank. "Castlight has been a great tool for educating and informing employees. Over time, especially, Castlight will help our people better navigate the complex world of healthcare. It will lead to better decisions that are customized for each employee's unique situation."

Today, more than 170 companies spanning 25 industries have selected the Castlight Enterprise Healthcare Cloud to empower their employees to understand their care options in the context of their benefits, reward employees for making high-value decisions, and deliver better business outcomes. Castlight customers include more than 45 Fortune 500 companies who recognize the need to take control of their healthcare investment.

About Castlight Health
Castlight Health, Inc. (NYSE: CSLT) is a leader in Enterprise Healthcare Management. We believe great healthcare builds great business and U.S. enterprises can gain control over the $620 billion spent annually on healthcare, transforming a crippling cost into a strategic business advantage. Recognized as a top 2014 software platform by the HR Technology Conference & Exposition, the Castlight Enterprise Healthcare Cloud enables employers to understand and manage all their healthcare investments while helping employees make the best possible healthcare decisions. Castlight is a great place to work, honored with a Glassdoor Employees' Choice award and recognized by Rock Health for Diversity in Leadership. For more information visit www.castlighthealth.com. Follow us on Twitter and LinkedIn and Like us on Facebook. Source: Castlight Health.

About Fifth Third Bank
Fifth Third Bancorp is a diversified financial services company headquartered in Cincinnati, Ohio. As of March 31, 2015, the Company had $140 billion in assets and operated 15 affiliates with 1,303 full-service Banking Centers, including 101 Bank Mart® locations, most open seven days a week, inside select grocery stores and 2,637 ATMs in Ohio, Kentucky, Indiana, Michigan, Illinois, Florida, Tennessee, West Virginia, Pennsylvania, Missouri, Georgia and North Carolina. Fifth Third operates four main businesses: Commercial Banking, Branch Banking, Consumer Lending, and Investment Advisors. Fifth Third also has a 22.8% interest in Vantiv Holding, LLC. Fifth Third is among the largest money managers in the Midwest and, as of March 31, 2015, had $308 billion in assets under care, of which it managed $27 billion for individuals, corporations and not-for-profit organizations. Investor information and press releases can be viewed at www.53.com. Fifth Third's common stock is traded on the NASDAQ® Global Select Market under the symbol "FITB." Fifth Third Bank was established in 1858. Member FDIC

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