Everside Health, Marathon Health announce merger

Everside Health, Marathon Health announce merger

Direct primary care provider Everside Health and employer health provider Marathon Health are teaming up to provide primary care with union-sponsored patient, employee and client offerings using a value-based care model.

Everside works with employers and unions to provide health care directly to their workers without an insurer intermediary. It includes health centers and virtual care and provides primary care, chronic condition management, mental health services, urgent care, occupational health and care coordination.

Health marathon is one Employer-sponsored primary care company that provides onsite care services where employees work and 24/7 virtual care services. The company also offers care navigation resources and a comprehensive care team.

The combined entity, which will operate under the Marathon Health brand name, said it will offer primary care, occupational health, mental health, pharmacy and musculoskeletal services to its 630 clients. It said it will reach 2.5 million patients at 680 health centers in 41 states and virtually all 50 states.

CEO of Marathon Health, Dr. Jeff Wells, and executive chairman, Ben Evans, will continue in their existing roles.

Everside Health CEO Chris Miller is leaving the company but will remain a shareholder in the combined business.

The merger will be completed within the next 12 months and existing shareholders General Atlantic, New Enterprise Associates and Oak HC/FT will support the combined entity.

“The merger of Marathon Health and Everside Health will create a stronger combined organization even better equipped to build a primary care model designed with the patient experience and outcomes in mind,” Wells said in a statement.

“Along with my fantastic colleagues, I am honored to lead the newly merged Marathon Health because our mission to enable millions of people to live their healthiest lives has never been more critical. Our track record reflects our success in winning of the trust and loyalty of our customers, patients and communities nationwide.”

THE BIGGEST TREND

On the other hand, formerly Paladina Health, was sold to KTA by dialysis company DaVita for $100 million in 2018. KTA also led a $165 million raise for the company that year.

In 2022, Everside scored $164 million in growth equity financing.

The direct primary care company has made several acquisitions, including this one the acquisition of Activate Healthcare in 2019, which provided services to employers and unions for preventive and primary care.

She bought another one direct provider, Healthstat, in 2020 and announced an agreement to acquire R-Health in 2021.

Everside announced plans to go public in 2021, but soon after, it wrote a letter to the Securities and Exchange Commission abandoning its plans “due to market conditions.”

In 2020, Marathon Health merged with OurHealth, a company that provides on-site and nearby health centers to employers. Two years later, the company “restructured” and cut 94 jobs, or about 6% of its workforce.

Last year, the Indianapolis-based company acquired Cerner Workforce Health Solutions, created by Cerner Corp. With the addition of Cerner WHS clients, members, care teams and associates, Marathon expanded its value-based care population health management footprint to 15 states.

“Nurses Shaping an Innovative Future of Healthcare with AI” is scheduled for Monday, March 11, 9:30-10 a.m. ET in Room W311A, and “The Role of AI in Modern Healthcare: The Wins, Challenges, and What’s Next” is scheduled for Monday, March 11, 2-2:45 pm ET in Hall F (WF3) at HIMSS24 in Orlando. Learn more and register.

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