Virgin Pulse, a leading global digital-first health, wellbeing, and navigation company, and HealthComp, a next-generation benefits and analytics platform, announced the completion of their merger. Together, the new company will address the issues of increasing healthcare costs and complexity with an innovative, holistic approach that brings together engaging technology, data, and expert services in an all-in-one platform.

The new, unified company aims to reduce healthcare costs and improve outcomes by delivering a comprehensive health platform-as-a-service that leverages leading technologies and AI-driven data models to significantly improve member decision making and behavior. Together the company will deliver:

• Innovative and flexible health plan designs that meet their employees’ unique needs – Resulting in an average savings of up to $3,000 per employee per year
• A high-engagement member experience with concierge level service for clients and members – Driving members to return an average of 6 times daily and a sustained engagement rate of up to 50%
• Whole health advocacy, support, and navigation with an integrated approach – Leading to improvements such as 48% lower inpatient costs for members and a 3:1 value-on-investment for clients

“Today is an exciting day for our clients, members, and employees,” said Chris Michalak, CEO of Virgin Pulse and HealthComp. “We are stronger together as one purpose-driven organization with the technology, talent, and opportunity to radically change how people engage with and navigate the healthcare ecosystem. This combination will deliver on the ultimate vision of the Homebase for Health platform, and I’m looking forward to making a bigger impact on the lives of millions of people.”

New Mountain Capital is the majority owner of the new company. Marlin Equity Partners will maintain minority ownership. Other shareholders include Blackstone and Morgan Health.

J.P. Morgan Securities LLC acted as financial advisor to HealthComp. HealthComp’s legal counsel was Ropes & Gray LLP. Evercore acted as financial advisor to Virgin Pulse, with Kirkland & Ellis LLP and McDermott Will & Emery LLP serving as legal advisors.

Explore HRtech News for the latest Tech Trends in Human Resources Technology.