Employer

Nomi Health seizes analysis supplier Artemis Health to reduce employer healthcare costs

Direct healthcare provider Nomi Health has acquired healthcare analytics company Artemis Health to accelerate its mission of reducing healthcare costs for employers.

Artemis offers analysis software that helps employers and health plans reduce the costs of their health benefits while maintaining results.

The tools will build on Nomi’s existing platform, Nomi Connect, which allows employers to purchase services directly from suppliers. The company claims to have provided daily care to more than 10 million Americans in 15 states, including leading the nation’s testing wave amid omicron. Nomi also says he runs the country’s largest COVID mobile care program with a fleet of more than 50 care units traveling to care deserts.

Nomi shelled out $ 200 million for the deal, according to Axes. The company did not respond to a request for comment.

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“As costs skyrocket and access shrinks, organizations need clear data at their fingertips and partners who know how to turn that information into action. Our acquisition of Artemis Health does just that, ”said Mark Newman, Founder and CEO of Nomi Health, in a declaration. “Artemis shares Nomi’s vision that healthcare in the United States is fundamentally shattered and new entrants to the market are in the best position to rebuild it. “

Salt Lake City-based Artemis provides its services to more than 500 U.S. employers and benefit consultants, according to the company, with clients including Intuit, US Foods, Paychex, GE Appliances and JB Hunt.

The acquisition follows Nomi’s $ 110 million Series A round in December, co-led by Rose Park Advisors and Arbor Ventures.

In addition to Nomi Connect, the company also offers Nomi Care, an infrastructure that provides health services such as digital recording and field teams.

“Nomi Health shares our passion to improve the cost and quality of healthcare in the United States,” said Grant Gordon, co-founder and CEO of Artemis Health. “We are excited to bring our best-in-class data analytics capabilities to Nomi’s clients and to work together to bridge the gap between understanding and action in healthcare. Together, we will continue to accelerate Artemis’ development of innovative analytics solutions for employers and their advisers, and to pursue our mission by expanding our impact.

RELATED: Employer Insurance Costs Jumped In 2021 – And The Future Looks Bleak

Rising costs continue to weigh on the US healthcare system. Employer health insurance costs skyrocketed in 2021, with the average cost per employee rising 6.3%.

While employers appear broadly optimistic about the increase, attributing it to a return to care after the drop in office visits in 2020, significant hurdles remain in the new year of the emergence of genetic drug therapies. and cellular costly to inflationary health care prices.

Direct consumer spending also increased in 2021, by around 10% from the previous year, and this rate of growth is expected to continue through 2026.