InterWell Health, a kidney care physician organization, has merged with Fresenius Health Partners and Cricket Health, the company announced Wednesday.
The new company will operate under the InterWell Health name and expects to manage care for more than 270,000 kidney disease patients and to reach $11 billion in medical costs under management by 2025. The new entity was initially valued at $2.4 billion with roughly $6 billion in costs under management and more than 100,000 covered lives. Fresenius Health Partners had been parent company Fresenius Medical Care’s value-based contracting division and Cricket Health is a data platform vendor. The companies announced the merger in March.
"In a value-based world, it is no longer enough just to provide quality care—providers must help patients change behavior, and this requires a fundamental shift in how we engage patients," InterWell CEO Robert Sepucha, who formerly led Cricket, said in a news release.
Ex-Fresenius executive David Pollack is president and chief operating officer of InterWell and Dr. George Hart, a nephrologist, is chief medical officer.
Financial details of the transaction were not disclosed.
InterWell’s investors include Fresenius Medical Care, Welsh, Carson, Anderson & Stowe’s Valtruis, Oak HC/FT, Cigna Ventures, and Blue Shield of California.