Medical Mutual to acquire wellness plan provider Bravo
Medical Mutual acquisition of Bravo : Ohio-based insurance company Medical Mutual has agreed to acquire Bravo, a data-driven provider of wellness solutions, for an undisclosed price, as per the latest insurance acquisition news.
Bravo, which is claimed to serve over a million users across the US, will operate as a fully-owned subsidiary of Medical Mutual.
Established in 2008, Bravo offers employee well-being solutions that are said to empower employers and health plans with customized wellness plans that strengthen employee benefits and bring down the long-term claims trend.
Medical Mutual said that the transaction is a strategic pairing of its service-oriented insurance offerings and the achievement-based wellness model of Bravo that helps individuals to cut down preventable health risks and employers reduce healthcare costs.
Jim Pshock – Bravo Founder and CEO, commenting on Medical Mutual acquisition of Bravo, said: “For more than a decade, Bravo has shown that when wellness solutions include a proven recipe for health improvement, it can be a vital solution for employers to minimize the driving force behind rising benefits costs and preventable health risks. Medical Mutual understands our model and sees Bravo as a strategic part of its growth.
“Bravo’s commitment to inspiring preventive actions, promoting the primary care relationship, reducing health risks, and lowering claims costs aligns with Medical Mutual’s goals and we are thrilled to have the strength of this reputable parent company to support our business moving forward.”
Bravo’s customized wellness programs are said to improve health outcomes by incentivizing and equipping individuals to make personal progress to meet healthy benchmarks.
Medical Mutual said that the capabilities of the wellness plan provider will also strengthen its approach to population health, which it says is an important component to reducing healthcare costs.
Commenting on Medical Mutual acquisition of Bravo, Rick Chiricosta – President, Chairman and CEO of Medical Mutual, said: “Medical Mutual is committed to helping every member—no matter their current health status—improve their well-being while managing rising healthcare costs for individuals and groups enrolled in our plans.
“Bravo’s personal, motivational and measurable approach to wellness programming helps us reach both of those goals.”