Premise Health to Acquire Direct Primary Care Company CareHere

Acquisition brings Premise Health's revenue to approximately $1 billion; Combined company improves access to health care for employers, employees, and dependents across the country

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Premise Health

Sep 01, 2020, 09:52 ET

BRENTWOOD, Tenn., Sept. 1, 2020 /PRNewswire/ -- Premise Health, the largest direct health care provider, today announced it has signed a definitive agreement to acquire CareHere, a leading operator of wellness centers for self-funded organizations. The acquisition further solidifies Premise Health as the leading direct health care company and brings a comprehensive suite of innovative, affordable care delivery methods to self-insured employers and their teams across the country. With the addition of CareHere, Premise Health's annual revenue totals approximately $1 billion.

The CareHere acquisition provides Premise Health with the opportunity to extend its integrated approach to care to additional markets, including municipal and state governments, universities, and Taft-Hartley plans; offer the widest array of health care services to self-funded employers; and advance its digital and physical access models to drive better outcomes and healthier populations for employees and dependents.

"Premise Health has continually evolved our model to deliver unmatched access to high-quality, affordable health care for the nation's largest employers and their employees and dependents," said Premise Health CEO Stu Clark. "CareHere is a pioneer in the direct health care space with a shared vision for the future of care focused on access, quality, experience, and value, and the combined capabilities of our two leading organizations will enable Premise Health to transform the health care experience for employers, members, and their families."

Employers will gain access to extensive benefits as a result of the acquisition. Premise Health's integrated health care ecosystem includes a robust access model, comprehensive primary care, and data-driven care coordination. This model meets members where they are in their care journey and focuses on the preventive and long-term health of the population.

Premise Health offers more than 30 health care products, the widest array in the industry, through physical (onsite and nearsite health centers, mobile units, and events) and digital (24/7 virtual care, remote monitoring, and connected devices) access models. By combining its extensive product portfolio and unparalleled access with CareHere's public sector experience and KLAS-rated reporting and analytics capabilities, Premise Health will deliver a more seamless and coordinated care experience to improve outcomes, generate cost savings, and enhance health care for employer populations.

The combined entity will reach over 11 million eligible lives across more than 2,200 clients. In addition, Premise Health will operate more than 850 onsite and nearsite wellness centers in 300 markets across 45 states and Guam.

"Since our founding in 2004, CareHere has been committed to delivering superior health and financial outcomes by challenging traditional conventions of health care for employers across the country," said CareHere CEO Ernie Clevenger. "By joining forces with Premise Health, that commitment is only intensified, and together we can serve as an invaluable resource for organizations, their teams, and their families and improve the health of populations."

Effective at close, CareHere will be CareHere, a Premise Health Company to reflect the value the organizations offer together. Brentwood Capital Advisors served as the exclusive financial advisor to CareHere in the transaction, which is scheduled to close on September 30, 2020.

ABOUT PREMISE HEALTH

Premise Health is the leading direct health care company serving over 11 million eligible lives across 1,600 of the largest commercial and municipal employers in the U.S. Premise partners with its clients to connect their populations to high-quality, cost-effective health care through physical (onsite and nearsite wellness centers, Centers of Excellence, mobile units, and events) and digital (24/7 virtual care, remote monitoring, and connected devices) access models. It operates more than 600 onsite and nearsite wellness centers in 44 states and Guam.

Premise delivers value by removing barriers to care and creating seamless experiences for members and dependents with nearly 30 products including primary care, occupational health, pharmacy, fitness, and wellness. As the premier provider of employer-based health care, Premise offers unmatched access, enhanced clinical quality, and an exceptional member experience. The result is health care that raises the bar and delivers true financial return for the ultimate payor, the employer. For more information on Premise Health, visit www.premisehealth.com.

ABOUT CAREHERE

CareHere is a trusted population health management solutions organization that pioneered and continues to innovate employer provided on-site and near-site primary care and occupational health at significant cost savings. CareHere partners with employers to inspire their employees and families to achieve well-being and greater health through innovative, quality, cost-effective health care solutions. The Nashville-based health care leader utilizes health centers, their TeleHealth model that activates telephonic connection to Board-certified Doctors, and has recently launched eHealth™ Centers, utilizing an on-site nurse, cutting-edge security and medical instruments and a secure, HD video connection to the provider. Started in 2004 and known for their patient-centered approach and delivering their care with enthusiasm and compassion, CareHere cares for patients in 28 states and 200+ health centers nationwide.

Contact:
Olivia Jansen, [email protected]

SOURCE Premise Health