BUFFALO, N.Y.--(BUSINESS WIRE)--Centivo, a pioneering healthcare company built to make quality healthcare more affordable for employers and their employees, today announced the acquisition of Eden Health, an employer-centered virtual-first medical provider, effective immediately. This strategic move enables Centivo to accelerate its plans to scale its primary care-centered health plans to more working families and employers nationwide.
"We are witnessing primary care access problems unlike anything we’ve experienced in our lifetimes. Our system is plagued by chronic shortages in primary care access due to decades of under-investment and misaligned incentives,” said Ashok Subramanian, Founder and CEO of Centivo. “Our partnership with Eden Health – and its cutting-edge, technology-centered capabilities in primary care, mental health and urgent care – aligns seamlessly with Centivo’s mission to achieve radical affordability and enhanced patient access for American workers.”
Through this acquisition, Centivo now serves more than 160 employers ranging from Fortune 100 companies to small businesses, with market reach in all 50 U.S. states to remove barriers to healthcare. Eden Health’s clinical services will be fully integrated into Centivo, enhancing the company’s virtual advanced primary care practice, while broadening its clinical services to include mental health care, urgent care and workplace pop-up clinics. The acquisition will also integrate Eden Health’s technology, which interweaves its clinicians’ Electronic Medical Records system with its proprietary member app, enabling data-driven engagement and collaborative care through omni-channel interactions. Eden Health has also proven the ability to deliver a solution that patients love, with a customer satisfaction rating of 4.97 out of 5.00.
Matt McCambridge, CEO and co-founder of Eden Health, expressed confidence in the acquisition, stating, "There is no better partner for a primary care solution like Eden Health than a health plan like Centivo that shares our values, including the primacy of primary care in every patient experience." McCambridge will support the transition and serve as a Senior Advisor to the combined organization.
The acquisition builds upon and rapidly scales Centivo’s proven advanced virtual primary care practice, which addresses critical challenges in primary care access as highlighted by the State of the Primary Care Workforce, 2023, published by the National Center for Health Workforce Analysis. The opportunities presented by a well-integrated, primary care-centered health plan model include shifting primary care compensation away from fee-for-service and toward a value-based, prospective payment model that frees clinicians from fruitless administration, enhances patient access, and effectively aligns employer, employee and provider incentives.
Executive leaders from Centivo and Eden Health will host a LinkedIn Live event on Thursday, May 23, 2024, at 2:00 PM ET. Join us to discover how advanced primary care, integrated within a primary care-centered health plan, has empowered leading employers to cultivate healthier, productive, and supported workforces while ensuring financial sustainability for their health plans. Please follow the Centivo company page to register for the LinkedIn Live event.
Advisors
Lippes Mathias LLP and Lowenstein Sandler LLP served as legal counsel to Centivo in connection with this transaction. MTS Health Partners, L.P. acted as the exclusive financial advisor, and Foley & Lardner LLP acted as legal counsel to Eden Health in connection with this transaction.
About Centivo
Centivo is a pioneer in affordable health plans for American working families and employers. Founded in 2017, Centivo’s mission is to bring affordable, high-quality healthcare to the millions of workers who struggle to pay their medical bills. Centivo’s transformational health plan is designed specifically to curb the inefficiency and waste in today’s employer-sponsored health plans, working to remove barriers to healthcare. In partnership with leading local health systems, Centivo’s primary care-centered health plan offers U.S. employers a replacement to traditional health insurance carriers, lowering the total cost of care by 30 percent or more while delivering tangible value to employers, employees, and its partner health systems. With a diverse set of over 160 employer clients ranging from 25 to 239,000 employees, Centivo is delivering on its mission every day for its clients. To learn more about Centivo, please visit: https://centivo.com/.
About Eden Health
Eden Health is a new kind of primary care that unites primary care, mental health support, and care navigation under a Collaborative Care model to simplify the complexity that patients typically face. Eden works directly with employer groups and health plans to provide best-in-class, 24/7 virtual and in-person care that builds trust, engagement, and satisfaction. Eden’s clients cover hundreds of thousands of members and see industry-leading engagement: 67% of eligible patients have completed an Eden Health clinical encounter in the first 12 months, with an average satisfaction score of 4.97 out of 5.00. To learn more about Eden Health, please visit:https://www.edenhealth.com/.
