Transcarent to Acquire 98point6 AI-Powered Virtual Care Platform and Care Business
Care Business includes over 100 mid-size and larger self-insured employers, leading health systems, and innovative payors who use 98point6 as their consumer interface
Transcarent, a health and care experience company that makes it easy for people to access high-quality, affordable care plans to acquire the leading AI-powered virtual care platform and care business of on-demand primary care company, 98point6. The acquisition gives Transcarent access to the leading AI-powered virtual care technology and an affiliated medical group of providers skilled at delivering high-quality, on-demand care.
Since 2015, 98point6 has been the acknowledged leader in using AI to create quality, personalized text-based care experiences for people while significantly improving physician productivity. The agreement will provide current 98point6 self-insured enterprise customers, health systems, and payors easy access to Transcarent’s comprehensive health and care experience platform including EveryDay Care, Pharmacy Care, Care@Home, Surgery Care, and Complex Care.
The transaction is expected to close March 31st, after which 98point6 Technologies will continue to develop innovative technology solutions and focus its efforts on licensing its 98point6 Technology Platform software to third-party health care providers.
“In healthcare, complexity is the problem and simplicity is the answer. Transcarent is committed to creating an easy-to-use health and care experience that people love, that improves care, and that reduces the cost of that care,” said Transcarent Chief Executive Officer, Glen Tullman. “By combining the 98point6 AI-powered virtual care technology and an affiliated group of world class physicians with Transcarent’s comprehensive care platform, we will deliver consumers and employers what they really want and need. Leveraging AI to drive personalization and access to care will revolutionize the virtual care experience, for the first time combining best-in-class technology with human touch. That’s a winning combination.”
“We can think of no better company to continue nurturing our customers and Members than Transcarent as we enter our next phase of growth, which will focus on software licensing under the 98point6 Technologies brand,” said Jay Burrell, President and Chief Executive Officer of 98point6 Technologies. “Virtual care is the bedrock of health care. We remain committed to innovating new technology solutions and business models that work upstream to give health care providers the infrastructure they need to succeed with consumers.”
The 98point6 acquisition is the latest step in Transcarent’s journey to design a health and care experience for health consumers while aligning with the organizations that pay for that care. Transcarent’s acquisition of 98point6’s industry leading care technology and the ability to closely partner with an affiliated provider group will complement its in-house capabilities and partnerships with top local providers and health systems across a full spectrum of virtual and in-person care, providing a more personalized Member health and care experience that integrates across solutions. Transcarent Members will have the flexibility to opt into a best-in-class, text-based virtual clinic experience including on-demand access to high-quality primary care anytime and anywhere in the United States, with direct access to follow-on specialty care at home or in their local communities from our provider partners including many of the leading health systems across the country. This transaction also strengthens our relationships with some of the most innovative payors in the country who are embracing innovative technologies to offer more consumer directed care.
“At Banner|Aetna, we strive to do everything possible to keep our members healthy, and that includes offering them the gold standard in virtual care through 98point6,” said Tom Grote, CEO of Banner|Aetna. “I’m confident that Transcarent, supported by 98point6 Technologies, will continue to meet that high bar, and look forward to hearing about other services we can potentially fold into our health plan to exceed our members’ expectations.”