Fresenius Healthcare has agreed to a three-way merger with InterWell Health and Cricket Health to create an independent $2.4 billion company, according to a March 21 news release.
InterWell Health is a physician organization focussing on treating kidney disease and managing patients' agreements with payers, with 1,600 physicians in its nephrology network. Cricket Health uses machine learning tools to aid in detection and diagnosis of kidney disease in addition to offering a digital health platform to patients.
The merger brings together the provider and payer relationships of InterWell Health, the technology and digital platform of Cricket Health and the expertise of Fresenius's value-based care arm. The new company will operate under the banner of InterWell Health, and is responsible for more than $6 billion of medical costs under management and over 100,000 covered lives.
It will be separate from Fresenius Medical Care, but will benefit from its resources and is backed by investors from Cigna Ventures and Blue Shield of California.
"The new InterWell Health will bring together physicians, care management teams, and providers to ensure we show up as one team and provide the best possible experience for the patients who entrust us with their care," said Bill Valle, CEO of Care Delivery for Fresenius Medical Care. "Cricket Health's predictive analytics and patient engagement platform combined with the physician-led clinical approach of InterWell Health and Fresenius Health Partners' experience and expertise in value based care will position the organization for accelerated growth."
By 2025, the company aims to manage the kidney care of more than 270,000 people and increase its medical costs under management to $11 billion.