AXA has acquired Maestro Health, a Chicago-based US health benefit administration digital company for a total consideration of US$155m. It will operate as a 100% owned subsidiary of AXA.
Founded in 2013, the company has worked with leading employers of all sizes, in addition to brokers and insurance carriers
Maestro Health provides a digital integrated platform, which encompasses a full stack of health benefit administration services and third-party administrator services for self-insured companies (including care coordination solutions for employees). It enables companies to lower healthcare costs and empowers employees to make better health-related choices.
The company’s digital platform called maestroEDGE is a combination of technology and service platform which helps to simplify, personalize, and optimize how people shop, enroll and live with their benefits. The platform supports entire healthcare ecosystems and 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 organisation through the entire year, to live healthier and better lives.
Recently the company received growth financing capital from Oak HC/FT and SV Health Investors.
AXA acquires Maestro Health to provide innovative health solution in the US
For AXA, the acquisition is its formal entry into the US healthcare space and supports its payer-to-partner strategy, in line with Ambition 2020. For Maestro Health, the deal will enable its customers to have improved experience and access to larger product offerings. Additionally, it will continue to deliver innovative solutions to reduce costs and improve the engagement across the healthcare ecosystem.
Guillaume Borie, Chief Innovation Officer, at AXA has said: “We are excited about this strategic investment, which reflects the Group’s ambition to dedicate Eur 200m per year towards innovation. It provides an attractive opportunity to build our presence in the US health market with a new business model that has the potential of improving healthcare quality for millions of employees. Maestro Health has outstanding technology, assets and people, an agile organisation and a close-knit culture, providing exciting prospects for our population health management strategy in the US. market and beyond.”
