Virgin Pulse and RedBrick Health Joining Forces to Create World's Largest Digital Employee Wellbeing and Engagement Company
Merger Will Create First and Only One-Stop-Shop for Employee Health, Wellbeing and Benefits Engagement; Combined Company Will Have More Than 3,300 Customers Across 190 Countries
PROVIDENCE, R.I., May 21, 2018 (GLOBE NEWSWIRE) -- Providence-based Virgin Pulse and Minneapolis-based RedBrick Health announced today that the industry pioneers will merge, creating the world's largest, most comprehensive digital health and engagement company. This powerful combination will deliver the industry's only fully integrated digital platform, with benefits navigation and live coaching to support global clients and members across the entire health, wellbeing and benefits lifecycle - from screening and assessment to activation, behavior change and the adoption of sustainable, healthy habits.
"We are thrilled to join with RedBrick to set a new vision and standard for employee health, wellbeing and engagement," said David Osborne, Virgin Pulse CEO, who will serve as CEO of the combined company. "Bringing RedBrick's live and digital coaching and benefits navigation together with Virgin Pulse's mobile-first, daily engagement platform allows us to deliver the industry's only global, one-stop-shop for employees and employers. As first-movers in this space, and with substantial investment from our new partner, Marlin Equity Partners, we are well-positioned to execute an aggressive growth strategy and change even more lives around the world for good."
Virgin Pulse and RedBrick are clear industry leaders in employee health, wellbeing and engagement, with each company delivering highly complementary capabilities to the market. To ensure the best possible experience for all clients, the combined company will continue to support and innovate on both the Virgin Pulse and RedBrick platforms, while making the best-in-class capabilities of each solution available across both client bases.
By the end of this year, Virgin Pulse clients will be able to access RedBrick's health assessments, expert live and digital coaching, and benefits navigation through Virgin Pulse's API-based framework, allowing Virgin Pulse to interact more deeply with members to optimize their health and wellbeing. In addition, RedBrick clients will have access to Virgin Pulse's unparalleled challenge capabilities.
"Virgin Pulse and RedBrick are a logical fit, and it should be no surprise that we are finally coming together," said Dan Ryan, CEO of RedBrick. "The merger is a win for the entire industry - clients, consumers, partners, consultants - and raises the bar for what employers and employees should expect from their engagement partner. Combining our product portfolios and resources allows us to maximize our investments in R&D and operations, and ensures that our clients and consumers have access to the best, most innovative wellbeing and engagement solutions and services available."
"Our investment, which brings together two leaders in the health and wellbeing market, underscores our strong belief in the potential to transform this highly fragmented industry," said Michael Anderson, a managing director at Marlin Equity Partners which also recently acquired RedBrick Health. "This is a multibillion-dollar market that is hungry for innovation, desperate for disruption and ripe for consolidation, and we are committed to doubling down on these two leaders to move this market forward and unlock the value of employee health and wellbeing."
Virgin Pulse is widely recognized for having the industry's highest member engagement rates, with daily usage rivaling the most popular consumer applications such as Facebook and Twitter. The company's flagship SaaS platform, Virgin Pulse Engage(TM), delivers personalized, mobile-first experiences that support employees in improving their health and wellbeing every day. RedBrick Health was an early pioneer in delivering outcomes-focused health and benefits engagement solutions, and is highly regarded for its customizable integration platform, digital and live coaching, health assessments, biometric screening services and award-winning experience. With highly configurable workflows, integration capabilities, strong expertise in custom program design and a successful record of serving complex, distributed organizations, RedBrick has firmly established itself as the partner of choice for large enterprises.
Together, Virgin Pulse and RedBrick have the largest customer base in the industry, with over 3,300 clients including public sector organizations, health plans, universities and more than 20 percent of the Fortune Global 500 companies. The combination of the two companies also creates an extensive and growing network of strategic ecosystem partners spanning mental wellbeing, financial wellbeing, sleep, nutrition, telemedicine, cost transparency, treatment decision support and more.
RedBrick and Virgin Pulse will unite under the Virgin Pulse name but continue to operate as separate brands. The combined organization will be based out of Virgin Pulse's corporate headquarters in Providence, RI, and will maintain a major office in Minneapolis, MN and a coaching center in Phoenix, AZ. The company also has global centers of excellence in multiple international locations, including Australia, Canada, the United Kingdom, Switzerland, Bosnia, Brazil and Singapore.
Marlin is acquiring Virgin Pulse from its prior investors, including Insight Venture Partners. The merger is expected to close this month. Financial details of the transaction have not been disclosed. Evercore acted as financial advisor and Willkie Farr & Gallagher LLP served as legal advisor to Virgin Pulse. Raymond James & Associates, Inc. acted as financial advisor, and Goodwin Procter LLP served as legal advisor to RedBrick. William Blair & Company, LLC acted as financial advisor and Kirkland & Ellis LLP served as legal advisor to Marlin.
About Virgin Pulse
Virgin Pulse, a leading provider of technology solutions that promote employee engagement and wellbeing, and part of Sir Richard Branson's Virgin Group, helps employers create workforces that are happier, healthier and ultimately more productive. The company's modern, mobile-first platform delivers a personalized user experience that utilizes gamification to engage members in building habits that inspire meaningful and measurable change across individuals and the businesses they serve. By helping employees thrive at work and in all aspects of life, Virgin Pulse is helping change lives and businesses across more than 190 countries for good. More than 3,200 organizations around the world, representing many of the Fortune 500 and Best Places to Work, have selected Virgin Pulse's solutions to engage their workforces and drive their businesses forward. To learn more, visit VirginPulse.com and follow us on Twitter or LinkedIn.
About RedBrick Health
RedBrick helps companies transform the health of their organizations by inspiring their people to be fully engaged in life and at work. Starting with each person's unique needs, RedBrick combines advanced behavior science, adaptive technology and a deep bench of live experts. The industry's most highly configurable platform actively integrates each organization's benefits and resources with RedBrick's own extensive content and capabilities. Hundreds of leading organizations rely on RedBrick to measurably improve their well-being and benefits engagement, while delivering a better employee experience. To learn more, visit RedBrickHealth.com and follow the company on Twitter or LinkedIn.
About Marlin Equity Partners
Marlin Equity Partners is a global investment firm with over $6.7 billion of capital under management. The firm is focused on providing corporate parents, shareholders and other stakeholders with tailored solutions that meet their business and liquidity needs. Marlin invests in businesses across multiple industries where its capital base, industry relationships and extensive network of operational resources significantly strengthen a company's outlook and enhance value. Since its inception, Marlin, through its group of funds and related companies, has successfully completed over 120 acquisitions. The firm is headquartered in Los Angeles, California with an additional office in London. For more information, please visit www.marlinequity.com.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Virgin Pulse via Globenewswire
Om Nasdaq GlobeNewswire
One Liberty Plaza - 165 Broadway
NY 10006 New York
+1 212 401 8700http://www.nasdaqomx.com
NASDAQ (NASDAQ: NDAQ) is a leading provider of trading, exchange technology, information and public company services across six continents.
Følg saker fra Nasdaq GlobeNewswire
Registrer deg med din epostadresse under for å få de nyeste sakene fra Nasdaq GlobeNewswire på epost fortløpende. Du kan melde deg av når som helst.
Siste saker fra Nasdaq GlobeNewswire
Ondot’s Mobile Card Controls Provide Protection to Thousands of Banks from ATM Heist Threat17.8.2018 22:47 | Pressemelding
-Card controls counter threat of FBI’s warning on unlimited ATM cash out crime - Santa Clara, Calif., Aug. 17, 2018 (GLOBE NEWSWIRE) -- US mainstream media is reporting on a FBI warning to banks of an impending cybercrime wave targeting ATMs in which thieves seek to steal millions of dollars by using cloned cards for fraudulent withdrawals. Ondot, the global leader in mobile payments services, provides consumers a simple protection with mobile-based card controls that can restrict ATM transactions without completely shutting off the card for legitimate needs. Ondot’s mobile controls can give consumers the ability to restrict transactions specifically for ATMs while leaving their cards active for in-person purchases, eCommerce, and other purchases. By locking the account’s use at an ATM, consumers can work with their financial institution to ensure other security best practices are in place while knowing that even a spoofed card will be unable to withdraw cash. If emergency cash is need
SEMAFO: Armed Incident in Bobo Area17.8.2018 15:48 | Pressemelding
MONTREAL, Aug. 17, 2018 (GLOBE NEWSWIRE) -- SEMAFO Inc. (TSX:SMF) (OMX:SMF) regrets to report that a bus transporting employees from the town of Bobo-Dioulasso to the Mana Mine in Burkina Faso was shot at by armed bandits this morning. In the exchange of fire between the policemen and bandits, one SEMAFO national employee and one sub-contractor employee lost their lives. Operations at the Mana Mine, located 80 kilometers from the incident, are not affected. Early analysis suggests that this incident and the armed incident that occurred in the Est region six days ago are unrelated. However, the Corporation will be increasing its security measures at Mana and take appropriate steps to ensure the safety of the mine and of its employees. The Corporation would like to express its sincere sympathy to families of the victims. About SEMAFO SEMAFO is a Canadian-based mining company with gold production and exploration activities in West Africa. The Corporation operates the Mana Mine in Burkina
ThalesNano Energy Introduces H-Genie™: Revolutionary Compact, High Pressure Hydrogen Gas Generation Platform for Chemists17.8.2018 11:00 | Pressemelding
Improves safety, expands chemistry, saves lives. BUDAPEST, Hungary and BOSTON, Aug. 17, 2018 (GLOBE NEWSWIRE) -- ThalesNano Energy LLC today announced, at the 256th ACS conference (booth: 1615), the launch of the first in the series of revolutionary new gas generators, the H-Genie™. The H-Genie™ is a compact high pressure hydrogen generator designed to be used in any laboratory as a safer and simpler alternative to hydrogen cylinders. Capable of generating hydrogen at up to 1 NL/min and 100 bar (1450 psi), the system can help expand chemists’ limited hydrogenation chemistry capability by providing high purity hydrogen gas, on demand from water, to batch and flow reactors. Neal Langerman, Principal Scientist at Advanced Chemical Safety, comments: “The presence of cylinders of hydrogen raises the risk level of a lab. While the explosion or fire hazard can be mitigated with a gas cylinder cabinet, this takes precious floor space and does not eliminate the 1300 liters of flammable gas from
PayByPhone Supports Additional Languages16.8.2018 19:47 | Pressemelding
Drivers can now use the app in Spanish and Chinese VANCOUVER, British Columbia, Aug. 16, 2018 (GLOBE NEWSWIRE) -- Drivers who pay for their parking with the PayByPhone app can now use the app in Spanish, Traditional Chinese, and Simplified Chinese. Later this year, the leading mobile parking payment service will also be available in Punjabi. The support of multiple languages increases PayByPhone’s usability for its diverse consumer base, who are located across North America, Europe, and Australia. To gain access to the newly supported languages within PayByPhone, drivers can simply download the latest version of the app and set their iOS or Android device to their preferred language. “We’re excited to have expanded our language offerings beyond English and French,” said Barrie Arnold, Chief Commercial Officer, PayByPhone North America. “PayByPhone is available in many multicultural cities worldwide, and this update improves the app’s accessibility. PayByPhone has gained a global presen
Global Dairy Platform Announces Dairy Farmers of America CEO Rick Smith as New Board Chair16.8.2018 17:52 | Pressemelding
ROSEMONT, Ill., Aug. 16, 2018 (GLOBE NEWSWIRE) -- Global Dairy Platform (GDP), a pre-competitive collaboration of dairy sector organizations focused on encouraging the appropriate intake of nutrient-rich dairy foods and demonstrating the sector’s role in sustainable agriculture, today announced the appointment of Rick Smith, President and Chief Executive Officer of Dairy Farmers of America as Chair of the Board of Directors. “It is truly an honor to serve as Chair of GDP’s Board of Directors,” noted Mr. Smith. “We are facing global food and health challenges that need short and long-term solutions. The work of GDP creates an avenue for collaborative action that demonstrates dairy’s valuable contribution to global food systems, healthy diets and sustainable livelihoods.” Mr. Smith will serve on the board along with Fonterra Co-operative Group Chief Executive Officer Mr. Miles Hurrell; China Mengniu Dairy Company Executive Director and Chief Executive Officer Mr. Minfang (Jeffery) Lu; Ro
GridGain Systems Named to Inc. 500 List of America’s Fastest-Growing Private Companies for Second Consecutive Year16.8.2018 09:00 | Pressemelding
GridGain Ranks 17th among Software Companies, 13th in San Francisco Metro Area FOSTER CITY, Calif., Aug. 16, 2018 (GLOBE NEWSWIRE) -- GridGain Systems, provider of enterprise-grade in-memory computing solutions based on Apache® Ignite™, today announced it has been named to the 37th annual Inc. 500 list, a highly regarded ranking of the nation’s fastest-growing private companies. This is the second year in a row GridGain has been named to the list. GridGain’s rank of 158 on this year’s Inc. 500 list is up from number 187 last year. The company is ranked 17th among software companies, 13th in the San Francisco metro area, and 37th in the state of California. The Inc. 500 represents a unique look at the most successful companies within the American economy’s most dynamic segment – its independent small and midsized businesses. GridGain provides an in-memory computing platform that delivers speed, scale and high availability to data-intensive applications. Built on a memory-centric archite
I vårt presserom finner du alle våre siste saker, kontaktpersoner, bilder, dokumenter og annen relevant informasjon om oss.Besøk vårt presserom