Marpai Health Purchases Chicago-Based Managed Care Organization

Marpai Health Purchases Chicago-Based Managed Care Organization

Marpai Health, Inc. announced its acquisition of Maestro Health, a Chicago-based health & benefits company on August 4. This marks Marpai’s second acquisition since the start of 2021 and the first of 2022. The purchase price was $22.1 million. Founded in 2013, Maestro Health offers a platform that serves employers, employees, brokers and carriers. It serves more than 25,000 people and has more than 80 customers in more than 40 states with a 93% client retention rate. The company previously received growth capital financing from lead investor Oak HC/FT and SV Health Investors. Marpai Health uses artificial intelligence, and its platform Marpai Labs, to help reduce healthcare costs for... Read More »
Health Plans, Inc. Acquires Employers Health Network

Health Plans, Inc. Acquires Employers Health Network

Health Plans, Inc. (HPI) announced on July 11 that it acquired managed care organization Employers Health Network. Financial terms of the deal were not disclosed.  HPI is a national third-party administrator that partners with health plan brokers and employers to provide self-funding strategies and customized plans, giving employers greater cost transparency and control. The company is based in Westborough, Massachusetts and was founded in 1981. Employers Health Network (EHN) is an Irving, Texas-based company that provides comprehensive healthcare plans. EHN’s plans connect employees directly with healthcare providers and its transparent pricing allows customers to see,... Read More »
Evolent Health Acquires IPG in $375 Million Sale

Evolent Health Acquires IPG in $375 Million Sale

Evolent Health, Inc., a managed care company, announced it acquired IPG, a provider of surgical cost management solutions, for $375 million. The seller was TPG Growth.  Founded in 2011, Evolent Health is based in Arlington, Virginia, and provides an integrated, value-based care platform to health systems and physician organizations nationwide.  IPG works with health plans, providers, surgical facilities, device manufacturers and patients to improve quality and reduce costs for surgical procedures through optimization of care and device selection. It was founded in 2004 and is based in Alpharetta, Georgia.  The acquisition of IPG will expand Evolent’s specialty... Read More »
Cigna Completes $5.4 Billion Sale To Chubb

Cigna Completes $5.4 Billion Sale To Chubb

Cigna Corporation kicked off July by announcing the completion of the sale of its life, accident and supplemental benefits businesses in six markets across Asia Pacific to Chubb in a transaction worth approximately $5.4 billion. The businesses in Hong Kong, Indonesia, South Korea, New Zealand, Taiwan and Thailand have moved to Chubb. Cigna and Chubb agreed to exclude Cigna’s interest in a joint venture in Turkey from the transaction. Proceeds from the transaction will be utilized primarily for repurchasing shares, with $3.5 billion used to fund an accelerated share repurchase announced on June 16, 2022. When combined with Cigna’s previously completed share repurchases, the... Read More »
Anthem Announces Acquisition of Integra Managed Care

Anthem Announces Acquisition of Integra Managed Care

On November 10, Anthem, Inc. announced that it entered into an agreement to acquire Integra Managed Care, a managed long-term care plan in New York, from a wholly-owned indirect subsidiary of Personal Touch Holding Corporation. Financial terms of the transaction were not disclosed. Founded in 2014, Integra Managed Care is a New York-based managed long-term care plan serving Medicaid beneficiaries in need of long-term supportive services to help adults with long-term care needs and disabilities live safely and independently in their home and community. Integra serves 40,000 Medicaid members across the five boroughs of New York, Nassau, Suffolk and Westchester. Anthem, Inc. is a leading... Read More »
GuideWell Mutual Holding Acquires Triple-S Management Corporation

GuideWell Mutual Holding Acquires Triple-S Management Corporation

Last week, GuideWell Mutual Holding Corporation announced a definitive agreement to acquire Triple-S Management Corporation for $900 million. GuideWell will acquire all the outstanding shares of Triple-S Management common stock for $36.00 per share in cash, representing a premium of approximately 49% to Triple-S’ 90-day volume-weighted average trading price.  Founded in 1959, Triple-S Management Corporation is a health care services company serving more than 1 million people in Puerto Rico. It has the exclusive right to use the Blue Cross Blue Shield name and mark throughout Puerto Rico, the U.S. Virgin Islands, Costa Rica, the British Virgin Islands and Anguilla, and offers a broad... Read More »