Carenet Health, a San Antonio, TX-based provider of healthcare engagement, clinical support, advocacy and 24/7 telehealth solutions, has acquired the engagement and telehealth solution subsidiary of Citra Health Solutions. The acquisition is the second acquisition of its kind by Carenet in a span of seven months. Financial terms of the acquisition were not disclosed.
The recent acquisition complements Carenet’s ongoing commitment to delivering high-quality, cost-effective, on-demand telehealth solutions on an even greater scale. Carenet now supports more than 65 million consumer lives—that’s 1 in 5 Americans. Carenet also offers the only integrated Virtual Clinic in the industry—combining 24/7 nurse advice with physician e-consults in one seamless, cost-effective experience.
Impact of Acquisition
The Citra Health Solutions acquisition makes Carenet one of the largest telehealth providers in the nation, working with the country’s premier health plans, providers and pharmacy benefit managers. It also further extends and strengthens Carenet’s presence in the provider/health system market. Citra serves IPAs, MSOs, health plans and TPAs throughout the U.S. and in Puerto Rico, supporting multiple lines of business, including Medi-Cal/Medicaid, Medicare Advantage, commercial and specialty carve-out.
Carenet Health President Mick Mazour said the healthcare consumer engagement experience continues to mature, with important implications for telehealth. “We live in an on-demand world. Whether you are a payer or a provider, increased demand for an improved healthcare experience equals an increased demand for viable virtual care options. This acquisition puts us in an even better position to meet that need.”
“With ER and other care costs rising at unsustainable rates, we’re partnering with more and more industry players who realize that telehealth—including personal guidance at any time of the day or night and the subsequent direction to the most appropriate care options—needs to be a critical part of 2020 strategies,” said John Erwin, CEO of Carenet Health.