Less than two years after Dallas-based Evry Health launched out of stealth, it’s being snapped up. McKinney-based Globe Life announced today that it has signed an agreement to acquire the B2B, “mobile-first” health insurance startup.
Terms of the deal were not disclosed.
Founded in 2017, Evry Health differentiates itself from traditional PPOs and HMOs “by lowering the cost of healthcare through software automation with a mobile-first experience.” The company’s benefit plans encourage access to care and preventative health by offering no copays or deductibles for in-network care.
“Globe Life is trusted for keeping generational promises,” Evry Health Co-Founder and CEO Chris Gay said in a statement. “We’re excited to build a future together where we can serve to deliver a digital-first experience in the group health market. Globe Life accelerates Evry Health’s mission of bringing humanity to health insurance.”
Globe Life Co-Chairmen and Co-CEOs Matt Darden and Frank Svoboda welcomed Evry Health’s addition to the Globe Life family of companies.
“Evry Health has been on a mission to use today’s technology to build a better health insurance platform for mid-size employers and their customers,” the co-CEOs said in a joint statement. “Through the strength of the Globe Life brand, we look forward to creating new opportunities to support Evry Health as they strive to improve healthcare access and benefits.”
Evry Health emerged from stealth in December 2021
“With today’s technology, signing up for healthcare or paying a doctor’s bill should be as easy as ordering a pizza,” Evry Health’s Chris Gay said in December 2021. That’s when his B2B health insurance company emerged from stealth with a goal of making healthcare just that simple—with a high-tech, mobile-first approach focused on preventative health and reducing costs for mid-sized companies.
“We’ve done the hard work of building a better health insurer from the ground up, so we can charge less, enabling employers to pass these savings on to their employees and to be more competitive in the market,” Gay added at the time.
Evry Health said it launched with a mission to make healthcare “affordable, transparent, and high quality again.” The startup added that it uses software automation to lower the cost of healthcare, “providing expanded benefits at an affordable price, lowering premiums by up to 20%.”
From its base in Dallas, Evry Health’s health insurance plans are also available in Austin, Houston, and San Antonio, providing “a nationwide network for health coverage in addition to tailored wellness plans at no cost to employers or employees.”
Globe Life—whose name will be mentioned a lot this week during the Texas Rangers’ American League Championship Series at Arlington’s Globe LIfe Field—has more than 15,000 insurance agents and 3,000 corporate employees. The company says that it and its subsidiary companies issue “more life insurance policies and have more policyholders than any other life insurance company in the country, with more than 16.8 million policies in force.”
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