GuideWell Mutual Holding Corporation (GuideWell), the parent to a family of forward-thinking companies focused on transforming health care, today announced it has acquired PopHealthCare, LLC, a leader in risk adjustment and population care management. PopHealthCare will operate as a fifth business unit under the GuideWell umbrella and will form the foundation for GuideWell’s expansion into population health management with a focus on post-acute and in-home care for individuals with complex and chronic illness.
PopHealthCare partners with local, regional and national health plans and provider organizations to deliver risk adjustment, care management and in-home care delivery programs in the Medicare Advantage, managed Medicaid, dual-eligible, long term care and health insurance exchange markets.
“As a health solutions company, we constantly seek new and better ways to improve care for the people and communities we serve. In PopHealthCare we have found a partner that shares that commitment,” said Pat Geraghty, CEO of GuideWell. “Together we intend to build upon their proven track record in risk adjustment and population health management to create an industry-leading model for the delivery of post-acute complex care to high-need individuals. The additional investment, resources and expertise GuideWell can offer will help PopHealthCare grow its business by delivering even greater value to its customers and their stakeholders, while at the same time we tap their existing capabilities to benefit our own health plan members.”
According to an article* in Health Affairs, spending on post-acute care was the fastest growing major Medicare spending category. Focusing on post-hospitalization and/or longitudinal in-home care for highly vulnerable people, post-acute complex care (PACC) programs are designed to maintain health status at the highest level possible by providing care and support to these chronically ill individuals and their families, with the ultimate goal of improving health outcomes, reducing avoidable hospital admissions and readmissions and lowering costs. PopHealthCare’s PACC program is distinct from other similar programs in that it features in-home care delivered by physicians and other clinicians.
“PopHealthCare is very excited to join the esteemed group of companies in the GuideWell family,” said Mike Tudeen, CEO of PopHealthCare. “We have common cultures, a shared vision for the future, and a relentless focus on serving the needs of high-risk populations. We are committed to doing our part to improve our country’s overall health care system by delivering accountable health care and demonstrable value. Remaining independent, while having access to GuideWell’s expertise and resources, will optimize our ability to remain innovative and will enhance our ability to be responsive to our clients’ evolving needs.”
PopHealthCare will operate as an independent, stand-alone subsidiary of GuideWell. It will maintain corporate offices in Franklin, Tenn., and Tempe, Ariz., and regional offices in the states where it serves existing client organizations.
Oppenheimer & Co. acted as financial advisor and McDermott Will & Emery acted as legal counsel to GuideWell in connection with the transaction. Cain Brothers served as financial advisor and Bass, Berry & Sims served as legal counsel to PopHealthCare. The terms of the acquisition were not disclosed.
About PopHealthCare
PopHealthCare offers programs in high risk population management that drive demonstrable improvements in member quality of life and satisfaction, while helping its partnering health organizations realize appropriately enhanced revenues, enhanced quality scores and reduced medical costs. With decades of experience, PopHealthCare is led by a team of long-standing leaders in health care analytics, field-based high-risk population care delivery, and both prospective and retrospective risk adjustment services. PopHealthCare has designed its high impact services to meet the needs of local, regional and national health plans and provider organizations and currently partners with over 30 health plans across the United States and in Puerto Rico. PopHealthCare was founded in 2005 by Dr. Kirk Strawn.
About GuideWell
GuideWell Mutual Holding Corporation (GuideWell) is a not-for-profit mutual holding company and the parent to a family of forward-thinking companies focused on transforming health care. The GuideWell organization includes the leading health insurance company in Florida, a number of health care delivery businesses, a consumer engagement company, and a provider of administrative services to state and federal health care programs. For more information, visit www.guidewell.com.