Digital Personal Health and Wellness Companies Raised $1.8 Billion in 1H 2021

Wellness Coaches, a provider of health, safety, and wellbeing solutions in the workplace, has expanded its capabilities in the digital healthcare sector through the strategic acquisition of Benovate, a wellness app for the workplace.

The financial terms of the acquisition were not disclosed. Founded in 2002, Wellness Coaches serves 350,000 employees across more than 500 employer locations throughout the United States.

As part of the acquisition, Wellness Coaches launched its newly developed Healthy Ways platform, which now utilizes Benovate’s app to deliver real-time, personalized wellness experiences for employees.

Healthy Ways technology uses algorithms to analyze data from sources such as healthcare claims, coaching interactions, biometrics, wearables, and employee assessments to precisely tune each employee’s personalized digital health dashboard to their specific needs, interests, medical history, and readiness to change.

The Healthy Ways interactive platform tracks users’ personal health goals. It offers virtual and on-site access to coaches, registered dietitians, and educational resources to support employees on their journey to a healthier life. When health goals are achieved, employees are rewarded with points they can instantly redeem for gift cards to various retailers, airlines, and professional services.

According to the press statement, Benovate’s app, coupled with personalized coaching from Wellness Coaches’ trained professional coaches and registered dietitians, will help users identify and reduce health risks before becoming costly medical conditions.

“Wellness Coaches is an innovative and cutting-edge company that has a proven track record for transforming how individuals view and think about their health,” said Mark Walinski, CEO of Benovate.

Mark Walinski added: “The decision to join Wellness Coaches was the right next step for us. We are confident that the combination of our patented technology with the power of live coaches and registered dietitians will deliver industry-leading outcomes and revolutionize how people live, work, and interact via the Healthy Ways® platform for many years to come.”

One hundred thirty-six digital health companies were acquired in the first half (1H) of 2021 compared to 83 in 1H 2020.