BURLINGTON, Mass,--(BUSINESS WIRE)--HealthEdge Software, Inc.® (“HealthEdge”), provider of the industry’s leading next-gen integrated solution suite for health insurers, said today it has entered into a definitive agreement to acquire digital health management company Wellframe Inc. (“Wellframe”). Wellframe currently serves more than 33 million members through a consumer-facing and user-friendly mobile application that delivers personalized content and facilitates seamless connectivity to health plan staff.
Wellframe leverages real-time member generated data and artificial intelligence to identify intervention opportunities across its solution suite. The company’s Digital Health Management platform enables health plans to modernize member-facing services, including care management and advocacy. Wellframe’s Digital Care Management (“DCM”) solution serves as a digital front door for health plans seeking to engage high-risk members. DCM represents a systemic shift in care management service delivery from legacy telephonic-only to smartphone or tablet-enabled support. DCM has deep clinical roots with more than 70 curated care programs for members, spanning specialty 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 offering holistic support for members of all risk levels, including healthy and well-managed chronic members. Members engage with a self-service application that weaves in proprietary Wellframe content, plan-sponsored resources and third-party material ingested dynamically via Wellframe’s APIs. DCA enables health plans to interact with their entire membership base to establish an ongoing and more proactive relationship with members to help them navigate the healthcare system and to get support from care management and customer service representatives as well as plan advocates and navigators. By leveraging Wellframe DCA, health plan customers can achieve higher overall member engagement, satisfaction scores and clinical ratings.
“We are thrilled 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 trailblazer that has digitally reimagined how health plans manage relationships with consumers. We look forward to supporting Wellframe’s continued standalone growth and to coupling its products with our enterprise system HealthRules Payor® and care management platform GuidingCare®, so payers can enhance member experience, increase staff efficiency, improve utilization and reduce medical costs.”
The Wellframe acquisition bolsters HealthEdge’s portfolio of SaaS solutions across payer workflow operations, and marks HealthEdge’s entry into member engagement. An integration between HealthEdge-owned GuidingCare® and Wellframe will enable a full spectrum of clinical models that span member identification, prioritization, care plan design, member engagement and real-time analytics to measure adherence and progress. Additionally, a seamless and 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 of the four walls of care delivery,” said Wellframe’s Sattelmair. “Through our Digital Health Management platform, we enable health plans to deliver more modern services that improve member experience, plan product value and market competitiveness. In combining with HealthEdge, we are well positioned as a long-term strategic partner to accelerate health plan digital transformation."
Added Ram Jagannath, Global Head of Healthcare for Blackstone Growth and Tactical Opportunities: “Wellframe affirms HealthEdge’s position as the go-to, next-gen technology platform for payers on their most critical business issues. This acquisition propels HealthEdge into the large and fast-growing digital member engagement market. 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 served as financial advisor and Debevoise & Plimpton LLP was legal advisor to HealthEdge and Blackstone. Centerview Partners, LP served as financial advisor and Goodwin Procter LLP was legal advisor to Wellframe.
About HealthEdge
HealthEdge® offers the health insurance industry’s leading next-gen solution suite providing automation and seamless connectivity between all parts of a payer’s administrative and clinical systems. HealthEdge provides modern, disruptive healthcare IT solutions that health insurers use to leverage new business models, improve outcomes, drastically reduce administrative costs, and connect everyone in the healthcare delivery cycle. Its next-generation enterprise solution suite is built on modern, patented technology and is delivered to customers via the HealthEdge Cloud or onsite deployment. In 2020, funds managed by Blackstone became the majority owner. HealthEdge and its portfolio of mission-critical technology assets for payers, including The Burgess Group and Altruista Health, are collectively driving a digital transformation in healthcare. Follow HealthEdge on Twitter or LinkedIn.
About Wellframe
Wellframe strategically partners with health plans nationwide to reimagine 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 achieve their best. By combining innovative solutions, strategic partnership and passionate conviction, Wellframe creates measurable impact on lives, at scale. For more information on Wellframe, visit www.wellframe.com.
About Blackstone
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 we invest in, and the communities in which we work. We do this by using extraordinary people and flexible capital to help companies solve problems. Our asset management businesses, with $684 billion in assets under management, include investment vehicles focused on private equity, real estate, public debt and equity, growth equity, opportunistic, non-investment grade credit, real assets, and secondary funds, all on a global basis. Further information is available at www.blackstone.com. Follow Blackstone on Twitter @Blackstone.
