Premise Health has agreed to acquire Brentwood peer CareHere, a move that extends its network of on-site health clinics and puts the company’s annual revenues on track to top $1 billion.
The combined entity will reach more than 11 million eligible lives across more than 2,200 clients, according to a press release. In addition, Premise Health will operate more than 850 onsite and near-site wellness centers in 300 markets across 45 states and Guam.
CareHere also brings with it reporting and analytics capabilities and chances for Premise to extend its health care services — on-site health centers, mobile units, remote monitoring and telehealth — into new markets, including municipal and state governments, universities and Taft-Harley retirement plans. Premise has already added some big names to its employer client network this year, including Quicken Loans, Hormel Goods and U-Haul.
“CareHere is a pioneer in the direct health care space with a shared vision for the future of care focused on access, quality, experience, and value,” Premise CEO Stu Clark said in the release. “The combined capabilities of our two leading organizations will enable Premise Health to transform the health care experience for employers, members, and their families.”
The transaction is scheduled to close on Sept. 30. CareHere will retain the Premise Health Company name.
Brentwood Capital Advisors is serving as exclusive financial advisor to Care Here.