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Healthnow Acquires Coverus, Announces Payment App To Improve Affordability Of Health Care For Everyday Americans

May 18, 2022•over 3 years ago

Acquiring Company

HealthNow

Acquired Company

CoverUS, Inc

BrooklynHealth CareOtherHealth Care

Description

In a powerful alignment of two companies focused on healthcare affordability, New Zealand's HealthNow has acquired digital prescription discount platform CoverUS. The combined company will launch the CoverUS Payments app in Q3 2022, helping Americans pay for needed health care, and creating a mobile-first marketplace of health providers and merchants.

Company Information

Company

HealthNow

About

Founded in New Zealand, HealthNow offers a unique payment solution that lets health consumers spread out their health care payments for up to twelve weeks, with no fees or interest. Consumers can also put money aside in their Health Wallet, and with Employer Aid, participating employers can fund employee wallets as a benefit. Health care providers and merchants love HealthNow's ease of integration, its simple fee structure, and how it helps them increase patient flow and improve service utilization. For these reasons, in just one year HealthNow has become the health care payments market leader in New Zealand. HealthNow US, Inc. operates in the U.S. under the CoverUS name.

M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed