This morning hybrid healthcare provider Premise Health announced its purchase of digital corporate-wellness tool Sonic Boom Wellness for an undisclosed sum.
As part of the deal, Premise Health will have access to Sonic Booms’ virtual engagement platform, which can track users’ activity, health habits and challenge-setting features. Sonic Boom specializes in creating custom wellness programs and challenges for employers to provide to their network.
The platform has three modules, including one for engagement, another for incentive management and a third for health tracking. The tech allows members to compete with their peers and track goals.
WHY IT MATTERS
Premise Health is looking to use this M&A as a way to engage members and provide more digital goal-setting tools. Currently Premise Health offers both digital and in-person care. Its digital tool currently include telemedicine, integrated connected devices and other products in a virtual environment.
“The way people access health care is evolving,” said Premise Health president Jami Doucette. “Sonic Boom is an innovator in the engagement space with the proven ability to inspire members through meaningful activities and content. We look forward to expanding our onsite and near-site wellness centers and the Premise Digital Wellness Center with Sonic Boom’s engagement platform, with the goals of promoting healthy habits and enhancing overall health and wellbeing.”
THE LARGER TREND
This is Premise Health’s second acquisition in the last six months. Previously it purchased CareHere, a wellness provider also focused on the self-insured employer space.
Within the last few years, employee wellness products have increasingly gone digital. Many of the big wearables companies have joined the employer and insurer wellness space. In fact, in 2018, Fitbit teamed up with Blue Cross Blue Shield too offer its products at a discounted rate to members.
Additionally, UnitedHealthcare added Fitbit, Garmin, Samsung and Apple Watches to its Motion employee wellness program. Apple also teamed up with Aetna to announce a wellness program that leverages health data, a custom app and the Apple Watch.