Healthways has accepted to sell its population health business to Atlanta-deployed Sharecare. Sharecare will provide Healthways $30M in normal stock in exchange for the population health business, which involves 1,700 workers and, in accordance to Arnold, does over $259M yearly in revenue. Healthways will also pay out the Sharecare $25M upfront to fund an anticipated negative cash flow. If the proposed losses exceed $2M, Sharecare can also decrease the stock payment to as less as $10M.
“Our vision is we need to be the mere health app on your phone. The similar way you do not have twelve apps to handle your money, you are not going to have twelve apps to handle your health,” Share Care CEO Jeff Arnold stated. “We’ve made ten acquisitions over the previous many years putting together what we consider the vital pieces are that are going to enable you to handle all your health and wellness in only 1 section.”
The one major part that was missing regrettably, that Healthways’ business will assist to fill in, is outcomes-based coaching and chronic disease management, Arnold stated. The Healthways business involves various smaller assets: Innergy Healthier Weight, Gallup-Healthways Well-Being Index; a weight loss-focused collaboration with Johns Hopkins Medicine, Dan Buettner’s Blue Zones, Dr. Ornish’s Program for Reversing Heart Disease; a community health project; and Healthways’ stake in Healthways Brasil Servicos de Consultoria Ltda., its Brazil-based joint venture and innovation lab with SulAmerica Servicos de Saude S.A., a subsidiary of the greatest independent insurer in the state of Brazil. These renowned businesses will be managed into existing Sharecare offerings as suitable — for example, the Gallup index will be joined with Sharecare’s RealAge assessment device.
“So that was the key reason. The second key cause is they have a great customer base. About a quarter billion dollars in revenue, massive customers from Hawaii to CareFirst in DC to FedEx to Lockheed Martin. We need to be capable to evaluate our Sharecare assets into those populations.” Arnold claimed.
Healthways is getting out of population health in case to concentrate on its network solutions business, which involves the Silver Sneakers program, a beneficial fitness program for older people.
“Our planned strategic technique of the business has demonstrated that our Network Solutions business has an appealing financial profile, high-quality assets and an outstanding platform for progress,” Healthways CEO Donato Tramuto claimed.
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