AXA Group has agreed to acquire Maestro Health, an employee health and benefits company.
According to the companies, once the acquisition is final, Maestro Health will maintain its identity, mission, and team while operating as a wholly-owned subsidiary of AXA.
"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 health care 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 health care costs, reduce complexity, and empower the consumer more than ever before," said Rob Butler, the chief executive officer and founder of Maestro Health. "It was critical for us to maintain our culture, brand, and innovative identity, yet find a true partner with the unique combination of AXA's scale, like-mindedness, and industry prowess – a synergy that can appeal to all of our current customers and channel partners."
"We are excited about this strategic investment, which reflects the group's ambition to dedicate Euro 200 million per year towards innovation. It provides an attractive opportunity to build our presence in the U.S. health care market with a new business model that has the potential of improving health care quality for millions of employees," said Guillaume Borie, chief innovation officer at AXA. "Maestro Health has outstanding technology, assets, and people, an agile organization, and a close-knit culture, providing exciting prospects for our population health management strategy in the U.S. market and beyond."
"Joining forces with AXA will undeniably make us a better and stronger company not only for our customers, but also for our employees," added Mr. Butler. "People and culture are at the core of what we do, and I am thrilled about this next chapter as it is the perfect long-term scenario to keep the team together and accomplish our mission in the U.S. health care market and beyond."