Medical Mutual Enhances Wellness Capabilities with Acquisition of Bravo
Cleveland- Medical Mutual signed an agreement to acquire Bravo, a data-driven provider of wellness solutions to more than one million users nationwide. Bravo will operate as a wholly owned subsidiary of Medical Mutual.
The acquisition is a strategic pairing of Medical Mutual’s established, service-oriented insurance offerings and Bravo’s achievement-based wellness model that helps individuals reduce preventable health risks and employers lower healthcare costs. Bravo’s configurable wellness programs improve health outcomes by incentivizing and equipping individuals to make personal progress toward healthy benchmarks. Bravo’s capabilities also bolster Medical Mutual’s approach to population health, a critical component to driving down healthcare costs.
“Medical Mutual is committed to helping every member—no matter their current health status—improve their well-being while managing rising healthcare costs for individuals and groups enrolled in our plans,” said Rick Chiricosta, President, Chairman and CEO of Medical Mutual. “Bravo’s personal, motivational and measurable approach to wellness programming helps us reach both of those goals.”
Medical Mutual is one of the largest health insurers in Ohio with more than 1.6 million members. The company has increasingly expanded its insurance offerings, growing its individual and government programs, strengthening their dental business with the acquisition of Superior Dental Care, and focusing on their life and disability products.
Bravo Founder and CEO Jim Pshock adds, “For more than a decade, Bravo has shown that when wellness solutions include a proven recipe for health improvement, it can be a vital solution for employers to minimize the driving force behind rising benefits costs and preventable health risks. Medical Mutual understands our model and sees Bravo as a strategic part of its growth. Bravo’s commitment to inspiring preventive actions, promoting the primary care relationship, reducing health risks, and lowering claims costs aligns with Medical Mutual’s goals and we are thrilled to have the strength of this reputable parent company to support our business moving forward.”
Jim founded Bravo in 2008 and will continue to lead the Cleveland-based company and its 170 employees.