Maestro Health has announced it has taken a major step forward in its strategy to make health and benefits people-friendly again. Maestro Health will join forces with AXA Group and continue to empower people in the U.S. and abroad to live better lives. Together, they will take steps to transform the U.S. healthcare market by simplifying and personalizing how people shop, enroll and live with their health benefits.
The move comes at a tipping point in the U.S. healthcare market as cost, complexity and consumer engagement come to the forefront—inspiring the changing landscape of industry players. AXA’s acquisition of Maestro Health and its all-in benefits platform, maestroEDGE™, supports AXA’s payer-to-partner strategy in line with its “Ambition 2020” corporate initiative. Once the acquisition is final, Maestro Health will maintain its identity, mission and team, while operating as a wholly-owned subsidiary of AXA.
“Not only is this the optimal step into the next phase of Maestro Health’s history, it’s also the ideal partnership to reinforce our all-in, continuum of care model—and ultimately transform healthcare as we know it today. With the scale and resources of one of the most recognizable brands in the world, we are well positioned to expedite our mission to lower healthcare costs, reduce complexity and empower the consumer more than ever before,” said Rob Butler, CEO and Founder, Maestro Health. “It was critical for us to maintain our culture, brand and innovative identity, yet find a true partner with the unique combination of AXA’s scale, like-mindedness and industry prowess—a synergy that can appeal to all of our current customers and channel partners.”
With AXA, Maestro Health customers will see enhancements in their experience and access to leading product offerings. Additionally, Maestro Health will continue to focus on delivering new and improved solutions and services to the market, designed to further reduce healthcare costs and improve engagement for constituents across the entire continuum of care.
“We are excited about this strategic investment, which reflects the Group’s ambition to dedicate Euro 200 million per year towards innovation. It provides an attractive opportunity to build our presence in the U.S. healthcare market with a new business model that has the potential of improving healthcare quality for millions of employees,” said Guillaume Borie, Chief Innovation Officer, AXA. “Maestro Health has outstanding technology, assets and people, an agile organization and a close-knit culture, providing exciting prospects for our population health management strategy in the U.S. market and beyond.”
With its extensive health plan, care management, and benefits administration experience, Maestro Health has become known across the industry as ‘the most experienced startup.’ Founded in 2013, the company has worked with leading employers of all sizes, in addition to brokers and insurance carriers. Maestro Health currently serves more than 500 groups and 1 million lives on its maestroEDGE™ platform. With more than 300 employees, it has also been recognized with some of the industry’s most prestigious awards and accolades, including Great Places to Work Institute’s “Great Place to Work,” and ChicagoInno’s “Coolest Companies.” It was also named bronze winners in the American Business Awards “Most Innovative Company of the Year” and “Tech Startup of the Year.”
maestroEDGE™ is an all-in, technology-meets-service platform built to simplify, personalize and optimize how people shop, enroll and live with their benefits. The platform, which supports the entire continuum of care to treat the whole member, integrates Maestro Health’s owned and operated solutions across the complete benefits ecosystem. This enables Maestro Health to create an environment that empowers the consumer from the day they on-board at an organization through the entire year, to live healthier and better lives.
“Joining forces with AXA will undeniably make us a better and stronger company not only for our customers, but also for our employees,”added Rob Butler. “People and culture are at the core of what we do, and I am thrilled about this next chapter as it is the perfect long-term scenario to keep the team together and accomplish our mission in the U.S. healthcare market and beyond.”
Triple Tree acted as the exclusive financial advisor to Maestro Health for this transaction.
Maestro Health previously received growth capital financing by lead investor Oak HC/FT and SV Health Investors.
Completion of the acquisition is subject to customary closing conditions including the receipt of regulatory approvals.
Latest from International Private Medical Insurance (IPMI) Magazine
- iPMI Magazine Speaks With Reg Allatt, CEO, Global Excel Management Inc.
- Aetna International Signs Strategic Partnership Deal With Humanis
- Cigna Launches Unlimited Preventative Dental Care – Offering A Solution To The £105m Annual Cost Of Oral Health Problems In The UK
- Cooley Expands Transatlantic Insurance Group
- Pacific Prime Receives Bupa Global's Best Performance - Intermediary Award