Joining forces to improve healthcare outcomes
through complementary offerings and access to improved navigation,
member engagement and payment integrity
RADNOR,
Pa., July 11, 2024 /PRNewswire/ -- In a
significant development for the healthcare industry,
Vālenz® Health, a leading platform of integrated cost
containment and payment integrity solutions, signed a definitive
agreement to acquire Healthcare Bluebook™, an
industry-leading healthcare cost and quality navigation platform.
The combination will bring together the companies' complementary
offerings and create an integrated member engagement and digital
'front door' experience and payment integrity data platform. The
transaction is expected to close within 45 days subject to certain
regulatory approvals.
Healthcare Bluebook combines objective price and quality data
with intuitive online navigation capabilities to drive savings and
deliver measurable ROI to consumers and responsible employers
nationwide. Healthcare Bluebook is an industry leader in
comprehensive cost and quality insights across medical and pharmacy
care options for employers and their employees. Valenz Health's
many solutions include expansive data sets, care management
capabilities, payment integrity solutions and plan performance
support. When combined with Healthcare Bluebook, Valenz Health will
fulfill what the industry wants and needs to empower members, drive
improved health outcomes and simplify healthcare.
According to Rob Gelb, Chief
Executive Officer of Valenz Health: "Together, we will be able to
offer a single source of data and solutions on an integrated
platform that will make it easier for the industry to execute on a
healthcare experience that delivers higher-quality, cost-effective
and more efficacious care for members. We are exceptionally well
positioned to deliver a new pathway for consumers to achieve the
Valenz Health promise to engage early and often for smarter,
better, faster and more cost-effective healthcare."
"Because Healthcare Bluebook and Valenz Health share an
uncompromised commitment to transparency, member advocacy and cost
savings, we will be able to execute at a much deeper level to
directly benefit self-insured plans and their members," said
Mike O'Neil, Chief Executive Officer
of Healthcare Bluebook. "Together, we will make it easier for
members to find and receive high-quality care at a fair price every
time, putting members in charge of their own care."
Clients will continue to experience the same close partnership
and personal attention they have come to expect from Healthcare
Bluebook and will benefit from it being part of the Valenz Health
fully integrated platform.
Stifel and Raymond James acted as
financial advisors to Valenz Health. William Blair acted as financial advisor to
Healthcare Bluebook. Debevoise & Plimpton LLP acted as legal
counsel to Valenz Health; Goodwin Procter LLP acted as legal
counsel to Healthcare Bluebook.
About Vālenz®
Health
Vālenz® Health is the platform to simplify
healthcare – the destination for employers, payers, providers and
members to reduce costs, improve quality, and elevate the
healthcare experience. The Valenz Health mindset and culture of
innovation combine to create a distinctly different approach to an
inefficient, uninspired health system. With fully integrated
solutions, Valenz Health engages early and often to execute across
the entire patient journey – from care navigation and management to
payment integrity, plan performance and provider verification. With
a 99% client retention rate, we elevate expectations to a new level
of efficiency, effectiveness and transparency where smarter,
better, faster healthcare is possible.
Kelso & Company, a leading middle-market private equity
firm with a shared vision for accelerating positive change in the
delivery of healthcare for the self-insured industry, is the
capital partner for Valenz Health. For more information, visit
valenzhealth.com.
About Healthcare Bluebook™
Healthcare
Bluebook™ uses industry-leading objective quality
and price data and claims-driven ROI reporting to deliver
healthcare value insights to consumers, employers, healthcare
providers and payors. Bluebook's intuitive online healthcare
shopping solution provides employers and members with an
easy-to-use benefits solution that increases movement from
low-value to high-value care and prescription medications, driving
savings, rapid ROI and greater price predictability. Combined with
a proven engagement methodology, Bluebook's innovative suite of
services empowers smarter healthcare choices while decreasing costs
and improving health outcomes.
Primus Capital, the capital partner for Healthcare Bluebook™, is
a growth-oriented private equity firm focused on investing in
leading healthcare, software and technology-enabled services
companies.
For more information, visit healthcarebluebook.com.
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SOURCE Valenz Health