Transaction Expands StayWell’s Digital Capabilities in Competitive Population Health Segment.
Yardley, PA (February 12, 2018) —StayWell, a health empowerment company, today announced that it has acquired Provata Health, a Portland, Ore.-based digital health company that delivers scientifically proven population health programs to employers, health plans, and hospital systems. Provata Health’s native iOS and Android mobile apps, cutting-edge technology and innovative platform will be integrated with StayWell features to streamline the user experience and help deliver even greater physical and mental health benefits.
“Provata Health offers an impressive platform and innovative design that, like StayWell’s offerings, is grounded in scientific research with peer-reviewed, published studies that demonstrate its success in helping people become happier and healthier. The Provata platform is a great complement to StayWell’s existing product portfolio, enhancing our competitive market position and further empowering individuals to take active roles in their own health and achieve the best possible outcomes,” said StayWell CEO Nicole Latimer. “From home, to work, to their healthcare providers, this acquisition directly supports our mission to help consumers throughout their entire well-being lifecycle.”
With Provata Health, StayWell will extend the capabilities of its solution with features
- Enhanced digital health coaching
- Real-time data analytics and dashboards to measure and support participant engagement and client reporting
- Advanced activity tracking
- Pioneering use of virtual reality (VR) to support meditation and stress management
- Access to a network of more than 80,000 U.S. licensed physicians
- Integration with electronic medical records (EMRs) to capture participants lab values and other data
- Digital health games
Provata Health currently serves 500,000 members across 1,000 worksites, with a roster of clients including leading health systems, health plans, municipalities, and employers. Under terms of the agreement, all Provata Health employees will join StayWell, giving the company a new presence in Portland, Ore. Provata Health CEO Alex Goldberg will assume the role of vice president of innovation for StayWell, while Head of Business Strategy and General Counsel Aaron Goldberg will serve as vice president of StayWell client solutions.
“We are excited to join forces with StayWell to bring even more robust digital well-being solutions to the market,” said Alex Goldberg. “The combination of our offerings provides individuals with powerful, engaging tools that will enable lasting improvements to their physical and mental health.”
View the cutting-edge platform during HIMSS18, Booth #7123, in Las Vegas, March 5–9 at the Venetian Palazzo Sands Expo Center, where the StayWell team will be on-hand to debut the solution.
StayWell is a health empowerment company that enables populations to improve health outcomes through the science of behavior change. For more than 40 years, the company has been a pioneer in employer well-being and patient education solutions that lower risks and reduce costs. StayWell has earned numerous top industry honors for its population health programs, including the C. Everett Koop National Health Award and the Web Health Award. The company has also has received Utilization Review Accreditation Committee (URAC) and National Committee for Quality Assurance (NCQA) accreditation for several of its programs. StayWell is majority-owned by Healthcare Services & Solutions, LLC, a wholly owned subsidiary of Merck & Co., Inc. The company is headquartered in Yardley, Pa., with additional locations including St. Paul, Minn.; Portland, Ore.; and Atlanta. To learn more, visit www.staywell.com or connect with StayWell on Twitter, Facebook or LinkedIn.
For more than a century, Merck, a leading global biopharmaceutical company known as MSD outside of the United States and Canada, has been inventing for life, bringing forward medicines and vaccines for many of the world's most challenging diseases. Through our prescription medicines, vaccines, biologic therapies and animal health products, we work with customers and operate in more than 140 countries to deliver innovative health solutions. We also demonstrate our commitment to increasing access to health care through far-reaching policies, programs and partnerships. Today, Merck continues to be at the forefront of research to advance the prevention and treatment of diseases that threaten people and communities around the world - including cancer, cardio-metabolic diseases, emerging animal diseases, Alzheimer's disease and infectious diseases including HIV and Ebola. For more information, visit www.merck.com and connect with us on Twitter, Facebook, YouTube and LinkedIn.
About Vestar Capital Partners
Vestar Capital Partners is a leading U.S. middle-market private equity firm specializing in management buyouts and growth capital investments. Vestar invests and collaborates with incumbent management teams and private owners to build long-term enterprise value, with a focus on Consumer, Healthcare, and Business Services & Industrial Products. Since its founding in 1988, Vestar funds have completed more than 80 investments in companies – as well as more than 200 add-on acquisitions – with a total value of approximately $50 billion. For more information, please visit www.vestarcapital.com.
Forward-Looking Statement of Merck & Co., Inc., Kenilworth, N.J., USA
This news release of The StayWell Company, a subsidiary of Merck & Co., Inc., Kenilworth, N.J., USA (the “company”) includes “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements are based upon the current beliefs and expectations of the company’s management and are subject to significant risks and uncertainties. If underlying assumptions prove inaccurate or risks or uncertainties materialize, actual results may differ materially from those set forth in the forward-looking statements.
Risks and uncertainties include but are not limited to, general industry conditions and competition; general economic factors, including interest rate and currency exchange rate fluctuations; the impact of pharmaceutical industry regulation and health care legislation in the United States and internationally; global trends toward health care cost containment; technological advances, new products and patents attained by competitors; challenges inherent in new product development, including obtaining regulatory approval; the company’s ability to accurately predict future market conditions; manufacturing difficulties or delays; financial instability of international economies and sovereign risk; dependence on the effectiveness of the company’s patents and other protections for innovative products; and the exposure to litigation, including patent litigation, and/or regulatory actions.
The company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise. Additional factors that could cause results to differ materially from those described in the forward-looking statements can be found in the company’s 2016 Annual Report on Form 10-K and the company’s other filings with the Securities and Exchange Commission (SEC) available at the SEC’s Internet site (www.sec.gov).