Virgin Pulse, a global provider of tech-enabled wellbeing solutions, today announced its intent to acquire Denver-based consumer activation company, Welltok, a leader in data analytics-based targeting and multi-channel outreach solutions.
Here are five things to know about the acquisition:
1. The Welltok acquisition will accelerate Virgin Pulse’s ability to serve substantially more clients, consumers, patients and members across the full healthcare continuum – employer, health plans (commercial, Medicare Advantage, Managed Medicaid), pharmacies/pharmacy benefits managers (PBMs) and health systems.
2. 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.
3. 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.
4.The merger 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.
5. Financial details of the transaction have not been disclosed.