CLEVELAND--(BUSINESS WIRE)--Medical Mutual signed an agreement to acquire Bravo, a data-driven provider of wellness solutions to more than one million users nationwide. Bravo will operate as a wholly owned subsidiary of Medical Mutual.
The acquisition is a strategic pairing of Medical Mutual’s established, service-oriented insurance offerings and Bravo’s achievement-based wellness model that helps individuals reduce preventable health risks and employers lower healthcare costs. Bravo’s configurable wellness programs improve health outcomes by incentivizing and equipping individuals to make personal progress toward healthy benchmarks. Bravo’s capabilities also bolster Medical Mutual’s approach to population health, a critical component to driving down healthcare costs.
“Medical Mutual is committed to helping every member—no matter their current health status—improve their well-being while managing rising healthcare costs for individuals and groups enrolled in our plans,” said Rick Chiricosta, President, Chairman and CEO of Medical Mutual. “Bravo’s personal, motivational and measurable approach to wellness programming helps us reach both of those goals.”
Medical Mutual is one of the largest health insurers in Ohio with more than 1.6 million members. The company has increasingly expanded its insurance offerings, growing its individual and government programs, strengthening its dental business with the acquisition of Superior Dental Care, and focusing on its life and disability products.
Bravo Founder and CEO Jim Pshock adds, “For more than a decade, Bravo has shown that when wellness solutions include a proven recipe for health improvement, it can be a vital solution for employers to minimize the driving force behind rising benefits costs and preventable health risks. Medical Mutual understands our model and sees Bravo as a strategic part of its growth. Bravo’s commitment to inspiring preventive actions, promoting the primary care relationship, reducing health risks, and lowering claims costs aligns with Medical Mutual’s goals and we are thrilled to have the strength of this reputable parent company to support our business moving forward.”
Jim founded Bravo in 2008 and will continue to lead the Cleveland-based company and its 170 employees.
About Medical Mutual
Founded in 1934, Medical Mutual is one of the largest health insurance companies based in Ohio. The company serves more than 1.6 million members with high-quality group and personal health insurance plans, and third-party administrative services to self-insured group customers. Medical Mutual also provides life, dental, vision, disability and critical illness plans. As a mutual insurance company, Medical Mutual does not have shareholders and instead operates for the benefit of its members. For more information, visit MedMutual.com.
About Bravo
Founded in 2008, Bravo is a national provider of employee well-being solutions that empower employers and health plans with configurable wellness plans that strengthen employee benefits and drive down the long-term claims trend. Their data-driven approach has established proven models for inspiring personal improvement and controlling rising healthcare costs. For more information, visit www.bravowell.com.