Transaction marks HealthEdge’s entry into the member engagement space and supports its mission to drive a digital revolution in healthcare through real-time business and clinical engagement
BURLINGTON, Mass, October 19, 2021– (COMMERCIAL THREAD) – HealthEdge Software, Inc.® (“HealthEdge”), provider of the industry-leading suite of integrated next-generation solutions for health insurers, today announced that it has entered into a definitive agreement to acquire the digital health management company Wellframe Inc. (“Wellframe”). Wellframe currently serves over 33 million members through a user-friendly, consumer-friendly mobile app that provides personalized content and facilitates seamless connectivity to health plan staff.
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Steve Krupa, CEO, HealthEdge (Photo: Business Wire)
Wellframe leverages real-time member-generated data and artificial intelligence to identify opportunities for intervention in its suite of solutions. The company’s digital health management platform enables health plans to modernize member services, including care management and advocacy. Wellframe’s digital care management (“DCM”) solution serves as a digital gateway for healthcare plans looking to engage high-risk members. DCM represents a systemic change in the delivery of care management services, moving from support by phone only to support compatible with smartphones or tablets. DCM has deep clinical roots with over 70 curated member care programs covering specialist areas including chronic and complex care, behavioral health and maternal health.
Wellframe also offers an innovative Digital Care Advocacy (“DCA”) solution that builds on DCM by providing holistic support to members of all risk levels, including healthy and well-managed chronic members. Members engage with a self-service app that integrates proprietary Wellframe content, plan sponsored resources, and third-party material dynamically ingested through Wellframe APIs. DCA enables health plans to interact with their entire membership base to build an ongoing and more proactive relationship with members to help them navigate the health care system and gain management support. care and customer service representatives as well as advocates and plan navigators. By leveraging Wellframe DCA, health plan customers can achieve higher overall member engagement, satisfaction scores, and higher clinical ratings.
“We are delighted to welcome Wellframe Co-Founder and CEO Jake Sattelmair, his leadership team and approximately 150 employees to HealthEdge,” said Steve Krupa, CEO of HealthEdge. “Wellframe is a market pioneer who digitally reinvented the way health plans manage relationships with consumers. We look forward to supporting the continued autonomous growth of Wellframe and coupling its products with our business system HealthRules Payor® and the GuidingCare® care management platform, so that payers can improve the member experience, increase staff efficiency, improve utilization and reduce medical costs. “
The acquisition of Wellframe strengthens HealthEdge’s portfolio of SaaS solutions across all payer workflow operations and marks HealthEdge’s entry into member engagement. An integration between GuidingCare® and Wellframe, owned by HealthEdge, will enable a full range of clinical models covering member identification, prioritization, care plan design, member engagement and real-time analysis to measure membership and progress. Additionally, a seamless, real-time integration between HealthRules Payor® and Wellframe will generate actionable insights that can lead to real-time member interventions and features that enhance a member’s health plan experience.
“Wellframe was founded to advance the use of emerging technologies to better organize healthcare resources around the needs of people outside the four walls of care delivery,” said Sattelmair of Wellframe. “Through our digital health management platform, we enable health plans to deliver more modern services that improve the member experience, plan product value and market competitiveness. By combining with HealthEdge, we are well positioned as a long-term strategic partner to accelerate digital health plans. transformation.”
Added Ram Jagannath, Global Head of Healthcare for Blackstone Growth and Tactical Opportunities: “Wellframe affirms HealthEdge’s position as a go-to next-generation technology platform for payers on their most critical business issues. This acquisition propels HealthEdge into the large and fast-growing market for digital member engagement. Coupled with its existing products, this creates a highly differentiated end-to-end solution for customers.
The transaction is expected to close in the fourth quarter. Terms of the transaction were not disclosed. TripleTree, LLC acted as financial advisor and Debevoise & Plimpton LLP acted as legal advisor to HealthEdge and Blackstone. Centerview Partners, LP acted as financial advisor and Goodwin Procter LLP acted as legal advisor to Wellframe.
Health edge® offers the health insurance industry’s leading next-generation suite of solutions, providing automation and seamless connectivity between all parts of a payor’s administrative and clinical systems. HealthEdge provides modern and disruptive healthcare IT solutions that health insurers use to leverage new business models, improve bottom lines, dramatically reduce administrative costs, and connect everyone in the healthcare delivery cycle. Its next-generation business solution suite is built on modern, patented technology and delivered to customers through the HealthEdge cloud or on-premise deployment. In 2020, the funds managed by Blackstone became the majority owner. HealthEdge and its portfolio of essential technology assets for payers, including The Burgess Group and Selfless health, collectively drive a digital transformation in healthcare. Follow HealthEdge on Twitter Where LinkedIn.
Wellframe strategically partners with health plans nationwide to reinvent the relationship between plans and members. Our digital health management solutions for care management and advocacy enable a level of care and support that empowers people and organizations to perform at their best. By combining innovative solutions, strategic partnership and passionate conviction, Wellframe creates measurable impact in lives, at scale. For more information on Wellframe, visit www.wellframe.com.
Blackstone is one of the world’s leading investment firms. We seek to create positive economic impact and long-term value for our investors, the companies in which we invest and the communities in which we operate. To do this, we use amazing people and flexible capital to help businesses solve their problems. Our asset management business, with $ 684 billion in assets under management, includes investment vehicles focused on private equity, real estate, debt and public stocks, growth stocks, credit opportunistic, substandard, real assets and secondary funds, all on a global basis. More information is available at www.blackstone.com. Follow Blackstone on Twitter @Blackstone.
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