QuadMed Broadens Scope with Novia Acquisition
SUSSEX, WI, and INDIANAPOLIS—QuadMed LLC, and Novia CareClinics—companies that specialize in employer-sponsored health care management solutions and on-site primary care—have entered into a definitive agreement whereby QuadMed will acquire all of Novia CareClinics operations and merge their executive management and operations teams accordingly.
The transaction, which is expected to close in approximately 30 days, will strengthen both companies’ positions in the health care markets they serve, enabling them to offer the best of their respective models to a wider range of employers who are seeking to improve access to health care while also reducing costs.
“This acquisition is a cultural and strategic fit that supports both companies’ vision for growth,” said Tim Dickman, president of QuadMed, a subsidiary of global printer and media channel integrator Quad/Graphics. “Novia’s leadership in developing and managing onsite and shared primary care clinics for small- to mid-size companies and the public sector complements QuadMed’s successful model of ground-breaking health care management solutions for larger companies with a national presence.”
The combined company will offer clients:
• An expanded U.S. geographic footprint that better meets the health care needs of multi-location companies locally, regionally or nationally;
• A broader range of services and solutions tailored to specific employee-population needs, including chronic condition management, nutrition and wellness programming, and injury rehabilitation;
• A continuum of competitively priced health care solutions that includes standalone clinics for employers with large concentrations of employees at single sites, shared clinics for multiple employers with smaller concentrations of employees in a geography, and corporate health suites with telemedicine capabilities for employers with limited real estate, small employee populations and/or dispersed workforces.
Together, QuadMed and Novia CareClinics will operate more than 90 clinic locations across 18 U.S. states, and serve the needs of more than 150,000 patients. The combined company will maintain existing administrative support offices in Wisconsin, as well as Indianapolis where Novia CareClinics is headquartered.
Once the acquisition is complete, Tim Dickman will continue to serve as President of QuadMed, and Eric Olson, current President of Novia CareClinics, will join QuadMed as a member of the executive management team. Other key Novia CareClinics management team members will be fully integrated into the combined company’s operations.