GoHealth to acquire e-TeleQuote
Medicare broker GoHealth announced that it entered into a purchase and subscription agreement which will ultimately lead to the acquisition of e-TeleQuote Insurance, a Medicare broker owned by Primerica.
In July, Primerica announced that it is exiting its senior health business by relinquishing ownership of e-Telequote Insurance, which was acquired in 2021 for $515 million. Primerica stated that e-TeleQuote does not have a clear path toward anticipated profitability within an acceptable timeframe in the “increasingly challenging senior health distribution market.” In addition, the industry is facing an uncertain regulatory environment that could adversely impact the business.
The transaction is expected to close on September 30, 2024.
“GoHealth’s scale, proprietary technology and operational excellence combined with e-TeleQuote’s established talent and high-quality track record will create a mutually accretive relationship poised to drive better outcomes for and meet the evolving needs of our Medicare consumers. As we embark on this exciting new chapter, we remain committed to a seamless integration process that prioritizes the interests of our customers, team members, and stakeholders. We are confident that this acquisition will not only strengthen our market position but also enhance our ability to deliver exceptional value and service not only in this upcoming Annual Enrollment Period but for years to come.” – Vijay Kotte, CEO of GoHealth.
“At the heart of this transaction is a shared commitment to a consumer-first approach. Both GoHealth and e-TeleQuote have consistently demonstrated a deep understanding of and responsiveness to consumer needs. We are excited to tap into the power of the proprietary technology at GoHealth, including the PlanFit Checkup, which will better serve our consumers while driving increased efficiency and effectiveness in choosing the Medicare plan that best meets their needs. By combining our resources and expertise, we are poised to collectively elevate our consumer experience and deliver even better tailored solutions that prioritize the well-being of our consumers.” – Craig Uchytil, CEO of e-TeleQuote.
