DENVER, Oct. 11, 2017 /PRNewswire/ -- Welltok, the leading consumer health enterprise Software as a Service (SaaS) company, announced the strategic acquisition of Tea Leaves Health from Ziff Davis, LLC a subsidiary of j2 Global, Inc. (NASDAQ: JCOM). Georgia-based Tea Leaves Health is a leading provider of a SaaS-based analytics and marketing technology platform used by hospital systems to target consumers and physicians with coordinated engagement campaigns.
Welltok's award-winning health optimization platform organizes and integrates the ever-growing health and wellbeing ecosystem, and delivers personalized guidance and support to consumers on behalf of the nation's most innovative health plans and employers. With an impressive customer base that includes about 30 percent of the nation's top health systems and more than 400 hospitals, Tea Leaves Health will propel Welltok's growth within the hospital market, while enriching its data assets and product portfolio to better serve all types of population health managers.
"Similar to how health plans and employers are expanding beyond their traditional view of members and employees, respectively, innovative hospital systems are also extending their focus beyond patients' episodes of care and recognizing the need to develop and sustain ongoing relationships," said Jeff Margolis, Welltok's chairman and CEO. "Welltok and Tea Leaves Health share a similar DNA with a holistic, consumer-first approach to creating enterprise SaaS solutions that transform how healthcare enterprises partner with consumers to optimize their health."
"Welltok and Tea Leaves Health both have incredibly sophisticated technology platforms that can leverage vast amounts of consumer and medical data to design personalized, relevant experiences that drive actions and health results," said Miki Kapoor, CEO of Tea Leaves Health. "We are excited to join Welltok and look forward to accelerating our product innovation to drive growth and develop even more compelling solutions, enabling our hospital and health system customers to achieve their growth and financial objectives."
Founded in 2011, Tea Leaves Health has nearly tripled its customer base in the last 24 months by providing innovative data-driven technology solutions for hospital systems to strategically establish relationships with patients and physicians. The company's core products, Patientology™ for customer relationship management (CRM) and Physicianology™ for physician relationship management (PRM), provide clients the advanced business intelligence and technology to leverage proprietary data analytics and get a complete understanding of population demographics. Together, these tools deliver personalized content and messaging to drive growth and quality through targeted consumer and physician campaigns.
As part of Welltok, Tea Leaves Health will have access to additional capital and technology resources to accelerate product development and meet clients' growing needs. Additionally, the acquisition will enable several strategic opportunities, including:
- Expansion of Welltok's offerings into the hospital market as an extension of the Tea Leaves Health solutions, providing a platform that can support a 24x7, longitudinal relationship with consumers across multiple modalities
- Integration of Welltok's proprietary consumer database of 275 million consumers and 800 variables with Tea Leaves Health's extensive consumer and medical data, including enhanced electronic medical record (EMR) encounter data and social media tracking, to provide an unparalleled 360-degree view of consumers
- Ability to better support physicians in engaging consumers pre- and post-episode through referrals to the CaféWell platform for on-demand support (e.g., health education, live coaching and condition management programs)
- "As hospital systems seek to add value beyond the provision of acute care services, the acquisition of Tea Leaves Health allows us to offer them a comprehensive outreach and engagement solution that can support all aspects of consumer health including general health and well-being, condition management, gaps in care, prevention and pre- and post-episode support," added Margolis.
About Welltok, Inc.
Welltok, the leading consumer health enterprise Software as a Service company, empowers consumers to achieve and sustain their optimal health. Its award-winning CaféWell Health Optimization Platform connects consumers with available and relevant benefits, resources and rewards by designing personalized action plans. Additionally, the company's technology-enabled services leverage both advanced analytics to derive meaningful consumer insights and multi-channel communications to reach consumers through the right channel with the right message. Welltok drives greater consumer engagement and healthcare value for customers across the healthcare continuum including payers, employers, government programs (Medicare and Medicaid) and health systems.
About Tea Leaves Health
Tea Leaves Health transforms the way healthcare executives manage their business through a platform that provides the total information awareness and business intelligence needed to achieve strategic growth, effective physician engagement strategies and increased revenue. Tea Leaves Health combines a deep understanding of healthcare business development with the technical savvy to deliver strategic success for healthcare organizations of any size. The proprietary Patientology™, Physicianology™ and Decisionology™ software tools easily transform internal and external data into immediately actionable information for multiple leadership levels. While working with clients to develop measurable and successful growth initiatives, Tea Leaves Health strives to provide the best software, strategic consultation and support in the industry. For more information, visit www.TeaLeavesHealth.com
About Ziff Davis, LLC
Ziff Davis, a subsidiary of j2 Global, Inc., is a leading global digital-media company operating in the technology, gaming, entertainment and lifestyle verticals. Its brands – IGN, PCMag, Everyday Health, What to Expect, AskMen, Speedtest, Offers, ExtremeTech, Geek, Toolbox, TechBargains, emedia and Salesify – produce and distribute premium content across multiple platforms and devices. It delivers advertising, performance marketing and licensing solutions to thousands of clients worldwide.
Erica Sniad Morgenstern