One of the oldest private health exchange companies is under new management.
GetInsured.com, a comparison shopping portal for healthcare products and services, has acquired Array Health, a private exchange network company launched in 2006. Terms of the deal were not disclosed.
The merged company will be headquartered in Mountain View, Calif., while engineering, product management and sales and services that support insurer lines of business will be based in Seattle, where Array is located.
GetInsured.com founder and CEO Chini Krishnan will run the combined company. Array founder and CEO Jonathan Rickert will serve as senior vice president and general manager of the insurance business unit.
Founded in 2005, GetInsured.com provides state governments and employers with technology and services for public and private health insurance exchanges. It delivers its software via a method known as software-as-a-service, in which the vendor hosts the software and client companies access it via the internet. GetInsured.com also enables businesses and consumers to research, rate and purchase health insurance plans and health savings accounts (HSAs) and use comparison shopping tools for medical services.
Array develops and operates an e-commerce platform that enables health insurers to deliver their own branded online health exchange for brokers, employers and consumers. The merger of GetInsured.com and Array was grounded in a technology integration and marketing deal the two companies announced in January 2016. Under the deal Array brings more exposure to the group insurance market for both companies.
“This acquisition was the next logical step for GetInsured and Array Health, Rickert says.
GetInsured.com says it helped to enroll 1.5 million consumers in a health plan last year. Arrays customers include Independence Blue Cross and Highmark Blue Cross Blue Shield of Delaware. “This acquisition strengthens our mission and answers the need of employers for an all-in-one solution that addresses group, individual and Medicare options, Krishnan says.Favorite