Kansas City, Mo., Oct. 10, 2023 (GLOBE NEWSWIRE) -- Vitori Health, a national precision-built health plan solution that provides a high-performing alternative for mid-market employers and their employees, announced today its acquisition of Flume Health’s third-party administrator (TPA) operations.
As an innovator in the health insurance industry, Vitori Health is thrilled to announce this strategic purchase. It is another significant step forward in Vitori’s mission to expand its impact with additional capability to meet the growing needs of the marketplace.
“The acquisition of Flume’s TPA operations aligns with our strategic market orientation and rapid growth. It complements our existing payer services and plan administration capabilities as well as adding significant talent to our existing experienced team. This is an ideal fit to bolster our strengths and fuel our continued, quality-focused expansion,“ said Tim O’Brien, Vitori Health CEO.
This acquisition underscores Vitori’s commitment to delivering innovative, cost-reducing, value-enhancing, member-first healthcare solutions and services to its clients. Like Vitori, Flume is recognized for its modern architecture and leading-edge capabilities, making this a highly complementary union for continued success.
Key highlights of the acquisition include:
- Increased Capacity: With the integration of Flume TPA team members, TPA clients, and administration technology, Vitori significantly expands its operational capacity to fuel market demand and continued growth.
- Technology Enhancement: Vitori gains Flume’s TPA technology and administrative architecture which will augment Vitori’s existing infrastructure to deliver innovative healthcare solutions and administrative efficiencies.
- Administrative Agility: The integration of Flume’s TPA will strengthen Vitori’s administrative flexibility, enabling the company to offer more tailored and customized solutions to its clients.
"I’m delighted that Vitori has acquired Flume’s TPA operations. Vitori is a company that shares not only our values, but also a mission to deliver modern health plan experiences, and I cannot think of a more fitting destination for our TPA business. This decision allows Flume to focus on software products, including our data exchange platform called Relay, solving the critical interoperability challenges in the payer ecosystem,” said Cédric Kovacs-Johnson, Founder & CEO of Flume Health.
Vitori Health is known for its dedication to improving healthcare cost and outcomes, and to delivering exceptional customer experiences. The acquisition of Flume’s TPA operations is a testament to Vitori Health's vision to be at the forefront of healthcare innovation.
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About Vitori Health
Vitori Health is a comprehensive next-generation health plan focused on expense reduction and increased value through evidence-driven design, payment integrity controls, better member support, and guaranteed results. Vitori's success is anchored in its ability to drive 30% savings by addressing legacy health insurance conflicts of interest, service, and cost control challenges while delivering an exceptional member experience and an unmatched savings guarantee. Built from the ground up, Vitori leverages proprietary technology and business processes to seamlessly integrate custom-designed features, including concierge member support and advocacy, unique medical payment controls, preferred surgical arrangements, optimized pharmacy pricing, and employer contracting without hidden fees. The result is a high-performance health plan that is significantly less expensive for plan sponsors and employees.
vitorihealth.com
About Flume
Flume Health builds tools to help payers efficiently exchange data. Flume's Relay platform is software designed specifically for health payers to connect various systems, vendors, and point solutions. A single platform for scalable integrations, Relay automates key elements of data operations, serving as a universal translation layer. Flume enables Payers and TPAs to bring modern health plans to market faster, deliver commitments with ease, and set the foundation for personalized access to healthcare.
