Company Makes Strategic Move into Hospital Market, Connecting Consumer Health Platform with Patient Outreach and Engagement Technology
DENVER, October 11, 2017 – 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 well-being 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 24×7, 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.