GuideWell acquires insurance company WebTPA
GuideWell announced that they have signed a definitive agreement to acquire WebTPA , an administrator of self-funded employer health plans.
WebTPA provides integrated and customizable administration solutions and products to employers, health systems and insurance companies. Terms of the transaction, which is expected to close by the end of the year, were not disclosed.
“We are excited to welcome WebTPA to the GuideWell family and to further expand our solutions for employer health plans and other customers. WebTPA is a proven company entrusted by a wide range of customers to support their objectives and is a natural fit with our mission-driven organization. We are committed to transforming health care, and the addition of WebTPA enhances our ability to deliver solutions for the complex needs of employers and the broader marketplace.” – President and CEO of GuideWell, Pat Geraghty.
Following closing, WebTPA will operate as an independent company within the GuideWell family of companies. WebTPA will also convene an advisory board including leaders from large employers, health systems and other businesses to engage on various health care matters and ensure WebTPA continues to offer differentiated solutions in a dynamic market.
“WebTPA is proud to join the GuideWell organization because of the opportunity to combine our strengths and develop a unique value proposition for employer health plans and other administrative services customers. We are impressed by GuideWell’s commitment to leading positive change in health care and their approach to supporting innovative companies and have seen the mutual benefits of our past collaboration with GuideWell for our customers. By establishing our new advisory board, we will ensure our customers and their needs remain at the forefront of our approach.” – President and CEO of WebTPA, Mike McCabe.