Virgin Pulse to Acquire Welltok to Advance Health Activation Capabilities
Virgin Pulse, a leading global provider of tech-enabled wellbeing solutions, announced its intent to acquire Denver-based consumer activation company, Welltok, a leader in data analytics-based targeting and multi-channel outreach solutions. In addition to providing Virgin Pulse clients with comprehensive data, analytics and multi-channel communications capabilities, this transaction will accelerate the company’s ability to serve substantially more clients, consumers, patients and members across the full healthcare continuum – employers, health systems, health plans (commercial, Medicare Advantage, Managed Medicaid), and pharmacies/pharmacy benefit managers (PBMs). Welltok brings a broad portfolio of clients and capabilities and complements Virgin Pulse’s digital-first platform with the industry’s most comprehensive database and additional communication channels, including text/SMS, mail, social and interactive voice response. With this transaction, Virgin Pulse is supercharging its ability to drive tangible outcomes and bend the healthcare cost curve by motivating consumers to initiate and complete meaningful actions that improve their health.
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“The addition of Welltok will allow us to deliver new and expanded data, analytics and multi-channel communications capabilities to our current clients while accelerating our ability to deliver a scalable end-to-end health activation and engagement platform that addresses the unique needs of the healthcare industry,” said Chris Michalak, CEO of Virgin Pulse. “Combining Welltok’s ability to identify and motivate consumers to initiate and complete specific health actions, with Virgin Pulse’s ability to engage users in managing and making the best possible decisions about their health and wellbeing every day will provide clients, consumers, patients and members a clear path to achieving health outcomes and demonstrable cost savings.”
Welltok’s proven health activation blueprint combines clinical and lifestyle data with predictive analytics and multi-channel outreach to connect users with personalized, high-value actions that improve their health and wellbeing. The company currently works with the nation’s top Medicare, Medicaid and commercial plans to deliver meaningful member experiences that create loyalty, close gaps in care, improve medication adherence, deliver critical communications and connect members with appropriate resources. More than 100 health systems and hospitals are also using Welltok’s SmartReach to run patient engagement and acquisition campaigns, while also delivering COVID-19 critical communications.
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“We are excited to combine forces with Virgin Pulse and look forward to bringing our teams, talents and technology together to deliver the most comprehensive digital health platform to our collective customers,” said Bob Fabbio, Welltok’s CEO. “Together, we have the potential to create modern, scalable healthcare engagement and activation solutions that will greatly increase the value our clients realize by driving meaningful change and outcomes, faster.”
The transaction is expected to close later this month, subject to completion of all necessary regulatory approvals and satisfaction of all closing conditions under the definitive agreement. Financial details of the transaction have not been disclosed. Virgin Pulse is backed by Marlin Equity Partners, a global investment firm with over $7.7 billion in capital commitments under management. Evercore and Lazard acted as financial advisors, and Kirkland & Ellis LLP served as legal advisor to Virgin Pulse. UBS Securities LLC acted as financial advisor and Shearman & Sterling LLP served as legal advisor to Welltok.
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