Sussex-based QuadMed LLC has entered into a definitive agreement to acquire Novia CareClinics LLC of Indianapolis in a merger of two innovators in employer-sponsored health care management solutions and on-site primary care.
QuadMed will acquire all of Novia CareClinics operations and merge their executive management and operations teams accordingly.
Together, QuadMed and Novia CareClinics will operate more than 90 clinic locations across 18 U.S. states and serve the needs of more than 150,000 patients.
“This acquisition is a cultural and strategic fit that supports both companies’ vision for growth,” said Tim Dickman, president of QuadMed, a subsidiary of global printer and media channel integrator Quad/Graphics Inc. “Novia’s leadership in developing and managing onsite and shared primary care clinics for small to mid-size companies and the public sector complements QuadMed’s successful model of ground-breaking healthcare management solutions for larger companies with a national presence.”
“QuadMed shares our values and our philosophy of improving the quality of patient care while putting a strong focus on driving behavioral changes and controlling costs,” said Eric Olson, president of Novia CareClinics. “We built our respective businesses independent of any competing interests that could have potentially detracted from our true purpose of keeping people healthy. Combining the strengths of our two companies will make an even more meaningful difference in today’s complex healthcare landscape.”
“We started QuadMed more than 20 years ago to improve our company’s access to quality, cost-effective healthcare – a bold move that transformed us from a purchaser of health insurance to an investor in employee health and productivity,” said Joel Quadracci, chairman, president and chief executive officer of Quad/Graphics. “Because the QuadMed model was created by an employer, it addresses employers’ needs for healthcare solutions that promote healthy living and disease prevention, and improve outcomes while reducing costs. Now, with our investment in Novia CareClinics, we can build on QuadMed’s successful model. As a large employer with nearly 20,000 employees in 28 states, we can partner with other employers to create shared clinics, and continue to pass on what we’ve learned during our healthcare management journey.”
The combined company will maintain existing administrative support offices in Wisconsin and Indianapolis.
Once the acquisition is complete, Dickman will continue to serve as president of QuadMed, and Olson will join QuadMed as a member of the executive management team. Other key Novia CareClinics management team members will be fully integrated into the combined company’s operations.
The transaction is expected to close in approximately 30 days.
The Novia brand will eventually be absorbed into the QuadMed brand, a company spokeswoman said.