Acquisition of FutureHealth adds population health management services to
portfolio
COLUMBUS, Ohio, Jan. 5 /PRNewswire/ -- Nationwide Mutual Insurance Company
announced today that it has signed a definitive agreement to acquire
FutureHealth Corporation, a Hunt Valley, Maryland-based population health
management company, in a move that expands Nationwide's health and
productivity offerings. Nationwide's health and productivity business
provides employers with integrated services to reduce the costs related to
their employees' health care and absences.
Terms of the acquisition were not released and are subject to shareholder
approval.
FutureHealth's capabilities complement those of GatesMcDonald, a
Nationwide company and premier Absence and Disability Management
administrator. Together, they form a unique combination of health and
productivity solutions for employers and their employees.
"Nationwide is committed to helping people protect and manage their most
important assets, including their health," said Jerry Jurgensen, chief
executive officer of Nationwide. "The addition of FutureHealth expands our
ability to help employers control the high costs associated with absence,
illness and injury. In addition, this transaction enhances Nationwide's
position within the growing multi-billion-dollar health and productivity
market and underscores our dedication to providing customers with innovative
solutions customized to meet their needs."
FutureHealth provides disease, maternity, case and utilization management
services, as well as health and wellness offerings and a nurse advice and
triage line. FutureHealth's disease management services help educate employees
dealing with chronic illnesses on ways to better manage their conditions and
improve their overall health.
"Our focus has always been to manage what matters," said Claire Rosse,
chief executive officer of FutureHealth. "Employers continue to look for
innovative ways to help manage the health and wellness of their employees.
Over the last decade, we have developed a unique set of skills, processes and
capabilities that have enabled us to reduce our clients' medical costs and
utilization, while improving the quality of patient care within their employee
populations. By joining Nationwide, we'll have the ability to meet a much
broader set of customer needs through an expanded portfolio of product
offerings."
The acquisition of FutureHealth is an important element of Nationwide's
efforts to help employers manage health care and absence costs, which are
expected to continue to rise at a rate of about 10 percent(1) per year.
Nationwide is also focused on developing additional enhancements to its
key health and productivity offerings that will increase employees' abilities
to monitor and maintain their health. Holly Snyder, senior vice president,
will lead the health and productivity business for Nationwide.
"We're very excited to welcome FutureHealth to the Nationwide family of
companies," said Jurgensen. "The combination of GatesMcDonald and FutureHealth
supports our ability to improve the well-being of individual employees and
positively influence health care costs, productivity and absenteeism."
FutureHealth will continue to be headquartered in Maryland and operate
under the current management team.
About Nationwide
Nationwide, based in Columbus, Ohio, is one of the largest diversified
insurance and financial services organizations in the world, with more than
$157 billion in assets. Nationwide ranks #99 on the Fortune 100 list. The
company provides a full range of insurance and financial services, including
auto, homeowners, life, commercial insurance, administrative services,
annuities, mutual funds, pensions and long-term savings plans. The Nationwide
companies include the country's seventh-largest property/casualty, the fourth-
largest homeowners, the sixth-largest auto insurance group and the country's
largest farm owners insurer. Nationwide Life Insurance Company, the major
subsidiary of Nationwide Financial, ranks 11th in assets according to A.M.
Best. For more information, visit http://www.nationwide.com.
About FutureHealth
Based in Hunt Valley, Maryland, FutureHealth is a population health
management company offering employers solutions to help them better manage the
cost and complexity of health care. Founded in 1992 by Claire B. Rosse,
FutureHealth's 190 employees provide URAC accredited disease, case,
utilization and maternity management services, as well as health and wellness
offerings and a nurse advice and triage line, to more than 800,000 individuals
nationwide. For more information, visit http://www.futurehealth.net.
About GatesMcDonald
With a proven track record of facilitating the safe and timely return to
work of tens of thousands of employees, GatesMcDonald is the nation's leading
provider of Total Absence Management. Founded in 1929, GatesMcDonald employs
more than 750 associates in 10 offices throughout the United States.
Nationally, the company assists thousands of organizations in saving millions
of dollars annually through customer-specific absence management solutions.
GatesMcDonald is a wholly owned subsidiary of Nationwide and is headquartered
in Columbus, Ohio. GatesMcDonald is an important part of Nationwide's health
and productivity business, which provides employers with integrated services
to reduce the costs related to their employees' health and absences. For more
information, visit http://www.gatesmcdonald.com.
Nationwide and the Nationwide Framework are federally registered service
marks of Nationwide Mutual Insurance Company. On Your Side is a service mark
of Nationwide Mutual Insurance Company.
GatesMcDonald is a federally registered service mark of Gates, McDonald &
Company.
(1) Hewitt Associates, 2004.
SOURCE Nationwide
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Related links:
http://www.nationwide.com
http://www.futurehealth.net http://www.gatesmcdonald.com
Company News On-Call:
http://www.prnewswire.com/comp/607050.html
CONTACT:
Terri Wearsch, +1-614-249-5755, or
wearsct@nationwide.com, or Eric Hardgrove, +1-614-677-8516, or
hardgre@nationwide.com, both of Nationwide
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