WALNUT CREEK, Calif., Jan. 30, 2023 /PRNewswire/ -- Paradigm, an industry leader in solving catastrophic and complex health care challenges and improving lives, today announced its acquisition of Welvie, a leading health care decision-support company. The Paradigm-Welvie partnership will combine the unique assets and capabilities of the two organizations to enhance each other's current products and services, while enabling development of new solutions to improve outcomes for patients, families, and customers.
Both organizations have proven track records of improving health outcomes. Paradigm, a pioneer of value-based care since 1991, has set the standard for outcomes-focused care and for transforming the lives of individuals with catastrophic and severe injuries and diagnoses. Enabled by deep clinical expertise and resources, Paradigm achieves industry-leading results that bring hope to patients and families facing extreme health care challenges. Since 2008, Welvie's self-guided online programs, offered through health plans and employer groups, have helped consumers work with their doctors to make more informed decisions that lead to better results. Welvie's flagship program, Welvie My SurgerySM, is used by more than a million health care consumers and has achieved a 98 percent satisfaction rate.
Leadership of both organizations said they believe their core competencies complement each other well. "We work closely with individuals and families throughout the care management and recovery process," explained Paradigm CEO John Watts. "Welvie's outstanding consumer education platform will be valuable in helping our clinicians deliver information to those who are facing complex health care issues. Customers of both companies will benefit from the combined force of Paradigm's expertise and resources and Welvie's market-leading decision support platform."
Welvie CEO Chip Tooke said that Paradigm's deep clinical expertise will add a new dimension to Welvie's decision-support programs. "The added high-touch clinical support will enhance our ability to help consumers understand health information and use it to make more informed choices with their doctors," he said.
Welvie will operate as a separate business unit within the Paradigm enterprise, led by Chip Tooke, Welvie's CEO, and supported by his outstanding management team and employees.
The acquisition of Welvie closed on January 27, 2023. Financial terms of the transaction are not being disclosed. Triple Tree, LLC served as the exclusive financial advisor to Welvie for this transaction.
Paradigmis an accountable specialty care management organization focused on improving the lives of people with complex and catastrophic injuries and diagnoses. The company has been a pioneer in value-based care since 1991 and has an exceptional track record of generating the very best outcomes for patients, payers, and providers. Deep clinical expertise is the foundation for every part of Paradigm's business, including its risk-based clinical solutions, case management services, high-value specialty networks, home health, and payment integrity programs.
Paradigm is headquartered in Walnut Creek, California, with offices across the U.S. For more information, please visit https://www.paradigmcorp.com/.
Welvie's online shared decision-making programs My Surgery (surgery), My Life Letters (advance care planning), and My Immunity Score (building stronger immunity health) help people work with their doctors to become more informed and more engaged in their health for the benefit of a better life. Welvie programs have been implemented across the country by health plans, large employers, and government agencies. For more information about Welvie, visit www.welvie.com.