October 1, 2020 – MINNEAPOLIS – Revel and NovuHealth, two of the nation’s leading healthcare consumer engagement, communications and technology companies, today announced a merger of the companies effective immediately. The merger establishes Revel and NovuHealth as the largest technology company focused on member engagement for healthcare’s most trusted organizations. NovuHealth CEO Steve Wigginton will serve as CEO, while Revel CEO Jeff Fritz will transition to an advisor to the CEO and the board of directors of the merged company.
“There is enormous pressure to motivate health actions as health plans, federal and state regulators, and consumers all look for new ways to engage with the healthcare system and impact outcomes,” said Steve Wigginton, CEO of NovuHealth. “Jeff and his team built Revel into a high-growth company that has been revolutionizing the healthcare action space. Now, combined with the deep industry and regulatory experience of NovuHealth, including market leading capabilities in combining both extrinsic and intrinsic rewards, we have an unparalleled ability to deliver personalized, omnichannel communications at scale across healthcare. We consider this both a technological and process advantage for the merged company.”
“This merger creates a dream team of experts in consumer marketing, behavioral science, healthcare regulatory expertise, data science and technology,” said Jeff Fritz, CEO of Revel. “This is a rare opportunity to connect the complementary nature of the Revel and NovuHealth platforms to create personalization at scale for the most trusted healthcare organizations. The result is a platform designed to reach the full spectrum of members including the hardest to reach, noncompliant consumers who are the toughest to motivate to take healthy actions,” Fritz said.
Together, Revel and NovuHealth work with more than 50 healthcare organizations, including seven of the top 10 largest health insurers in the United States representing more than 65 percent of all members in government programs such as Medicare and Medicaid.
“These are two mission-driven companies that have the requisite technologies, creativity and business acumen to revolutionize the ever-expanding healthcare communications and engagement marketplace,” remarked Kevin Barrett, chairman of Revel and former executive vice president of Change Healthcare and president of the Altegra Health division. “Today’s announcement will come as welcome news to healthcare organizations facing increased regulatory and financial pressure to get their members to take healthy actions.”
“NovuHealth was founded to engage and empower consumers to make choices that lead to healthier lives,” said Tom Wicka, founder and chairman of NovuHealth. “This merger extends the platform and capabilities of both companies to positively impact the people we serve.”
Over the course of the next few months, the Revel and NovuHealth teams will be working to merge their sales and marketing operations, customer experience, operations and product teams. The culture of this company will be reflective of both organizations, which are already quite similar in this respect. The new company will continue to operate in growth mode and expects to add professional talent through the balance of the year. The company will reveal a new brand for the combined enterprise in the new year. More details about the merger and its impact can be found at www.therevolutioncontinues.health.
TripleTree, LLC served as financial advisor and Bass, Berry & Sims PLC was legal advisor for this transaction.
About Revel Health
Revel Health is a healthcare technology company that is reinventing health engagement to make it better through its industry-leading health action platform, Revel Connect. Revel Health helps healthcare organizations connect with members and patients in a personalized way to build better healthcare consumer experiences, drive positive health action, and improve health outcomes. Headquartered in Minneapolis, Revel works with leading health plans and other healthcare employer organizations and serves more than 20 million members across the United States. Learn more about who we are and our approach by visiting us at Revel-Health.com.
NovuHealth is the leading healthcare consumer engagement company, driven to improve consumer health and health plan performance. NovuHealth motivates consumers to complete high-value healthcare activities by leveraging its sophisticated engagement platform, proven loyalty and behavioral science strategies, and deep industry and regulatory expertise. Headquartered in Minneapolis, NovuHealth has worked with nearly 40 health plans and served nearly 15 million consumers across all 50 states. Learn more at novu.com.
Press release available at https://www.novu.com/corporate/blog/press_releases/revel-and-novuhealth-merge/