Healthcare Leaders Address Acquisition Strategies During Third-Quarter Earnings Calls as Strong Results Reported
Healthcare firms reported solid quarterly earnings during the week of October 31 with several executives mentioning the outlook for acquisitions. CVS Health Corporation on November 2 reported third-quarter results that featured double-digit percentage increases for total revenue in the quarter and the year. Revenue increased to $81.2 billion in the quarter, up 10% compared to the prior year. Revenue in the year-to-date period jumped to $238.6 billion, up 10.7% compared to the previous year. The Woonsocket, Rhode Island-based company raised its 2022 full-year cash flow from operations guidance range to $13.5 billion to $14.5 billion from $12.5 billion to $13.5 billion. On September 2, the... Read More »
Ping An Healthcare and Technology Company Acquires Ping An Smart Healthcare for $96 Million
Ping An Healthcare and Technology Company Limited acquired Ping An Smart Healthcare for $96.864 million. The companies are based in Shanghai. Ping An Healthcare and Technology Company Limited is a part of Ping An’s managed care services system and also the flagship platform of Ping An’s healthcare ecosystem. It has established a business model based on managed care, family doctor membership and O2O (offline-to-online) healthcare services. Scientia Smart Health Technologies Limited and Ping An Yingxiang (Jiaxing) Software Company Limited, collectively referred to as Ping An Smart Healthcare, are business segments of Ping An Smart City. The two segments have empowered more than... Read More »
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. (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, 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 »Schedule a demo
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