SOURCE: Evolution Benefits, Inc.

May 04, 2005 11:37 ET

Evolution Benefits Appoints Kevin L. Blank Executive Vice President for Sales and Marketing

Former President and COO of San Francisco-Based BenefitPoint

AVON, CN -- (MARKET WIRE) -- May 4, 2005 -- Robert E. Patricelli, founder, chairman and CEO of the Avon, Conn.-based benefits debit card company, Evolution Benefits, Inc., announced the appointment of Kevin L. Blank as the company's executive vice president for sales, marketing and account management. Most recently, Mr. Blank was the president and chief operating officer at BenefitPoint, Inc., a San Francisco-based employee benefits technology firm. Prior to that appointment, he was managing director of Internet HealthCare Group, a health care information and technology focused venture capital firm. Mr. Blank also served as president and CEO of Women's Health USA and as a senior executive of Value Health, both being companies founded by Mr. Patricelli.

"Kevin Blank is a very experienced health care and technology services executive, with a strong background in sales management as well. We are very fortunate to have him joining us, and the fact that we know him so well from past associations together is a special bonus and pleasure, " said Mr. Patricelli.

Expressing enthusiasm for his new appointment, Mr. Blank said, "This is a great time to be in the benefits debit card space. As the consumer-directed market becomes more sophisticated and more complicated, buyers are looking for solutions that simplify and streamline processes, while offering ease and convenience to their employees. I can't think of a better solution than the benefits debit card, or a better example of that solution than Benny™."

Mr. Blank, a resident of Avon, Conn., earned a Bachelor's degree (with honors) from Boston University, where he also earned a Master's in Public Health. He has served on several venture backed company Boards and currently serves as an advisor to GMN Investors (Funds II and III).

About Evolution Benefits

Evolution Benefits began operation in 2002 with a commitment to supporting the movement toward greater consumer choice in and responsibility for employee benefits. Its primary product, the Benny™ benefits debit card, applies advanced payment technologies and pioneering electronic substantiation methodologies to FSAs, HRAs, commuter benefits, and Health Savings Accounts, creating a bridge between traditional benefit structures and the evolving consumer directed benefits movement. Evolution Benefits now powers the programs of more than 80 managed care and administrative services organizations and covers more than 1500 employers, including 40 of the nation's top-ranked Fortune and Forbes companies. Please visit www.EvolutionBenefits.com for more information.

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