AGA Benefit Solutions announced May 28 in a press release that it has acquired the operations of Quikcard Solutions, a specialist in health spending accounts based in Edmonton, Alberta.
The group benefits brokerage consolidator stated that Quikcard Solutions is a recognized provider in the health spending account and wellness account segment of the industry. Founded in 1989, the company also offers administrative services only (ASO) plans, as well as other employee benefits.
The acquisition of Quikcard gives AGA a third office in Western Canada, in Edmonton, in addition to its existing offices in Calgary and Vancouver. The transaction brings approximately 15 employees into the AGA organization. The consolidator also maintains offices in Montreal and Quebec City in the province of Quebec, and Kitchener and Markham in Ontario. It serves 7,000 clients.
Former Quikcard CEO Shawn Stals becomes National Director, Health and Wellness Account Solutions at AGA. “I am confident that AGA’s proven track record of successful acquisitions and the strong cultural fit of the two organizations will unlock the full potential of this transaction,” Stals said in the release.
Two reasons for acquiring Quikcard
In an interview with Insurance Portal, Martin Papillon, President and Chief Executive Officer of AGA, declined to disclose the value of the transaction or the volume of business generated by the acquisition. However, he revealed that AGA had approached Quikcard directly and that its financial partner, TA Associates, contributed to the acquisition.
Papillon explained that AGA was pursuing two objectives: “On the one hand, we wanted to increase our presence in the health spending account segment. On the other hand, we wanted to strengthen our presence in Western Canada.”
He noted that AGA now has “a large block of business in this segment.” The company’s release recalled that following the acquisition of PPI Benefits in 2021, AGA became the owner of BeneFitsMyWay, a health spending account and wellness account brand. The release added that, for the time being, Quikcard’s and BeneFitsMyWay’s operations will remain unchanged for clients, cardholders, members, and other partners.
A key segment in Western Canada
A health spending account provides insured individuals with an amount — or “allowance,” in Papillon’s words — that they may use at their discretion for healthcare expenses.
According to Papillon, Western Canada is more conducive to the development of this business segment than Quebec. “In Quebec, we offer health spending accounts as a supplement to group insurance,” he explained. In Quebec, prescription drug insurance legislation requires private plans to provide drug coverage at least equivalent to that offered under the public plan.
Elsewhere in Canada, some provinces allow plans consisting solely of a health spending account. Papillon explains that this is the case in Ontario, Alberta, and British Columbia. “The major health spending account providers are all based in Alberta. It is much more popular in Alberta and British Columbia. It is less so in Ontario, and we intend to work on that,” he said, adding that the industry has done less to promote the concept in Ontario.
Cartesia acquisition in March
During the interview, Martin Papillon also discussed AGA’s March 1, 2026 acquisition of Cartesia, a Montreal firm specializing in the management of employer-sponsored retirement plans.
Founded by Nathalie Charette and Sophie Séguin, Cartesia has specialized for 20 years in plan design and implementation, investment option selection, communication and governance. “This acquisition is accelerating the growth of retirement-related activities at AGA, a niche that more and more Canadian businesses trust us for,” AGA stated on social media.
The announcement specified that the transaction supports Cartesia’s succession plan, with Charette retiring and Séguin joining AGA as Director, Retirement.
