AXA Group will acquire Maestro Health to accelerate its payer-to-partner strategy, contingent on regulatory approval.
AXA Group is an insurance and asset management company, while Maestro Health is an employee health and benefits company.
Here's what you should know:
1. Specifically, AXA will acquire Maestro Health as well as its benefits platform, maestroEDGE.
2. Maestro Health will maintain its identity, mission and employees, but will operate as a wholly owned AXA subsidiary.
3. AXA will increase Maestro's product offering, while Maestro will attempt to create new solutions aimed at reducing healthcare cost, while also improving constituent engagement.
4. Maestro Health's CEO and Founder Rob Butler said, "Not only is this the optimal step into the next phase of Maestro Health's history, it's also the ideal partnership to reinforce our all-in, continuum of care model — and ultimately transform healthcare as we know it today. With the scale and resources of one of the most recognizable brands in the world, we are well positioned to expedite our mission to lower healthcare costs, reduce complexity and empower the consumer more than ever before."
5. The deal is subject to customary closing conditions and requires regulatory approval.