Truven by Merative, a leading portfolio of healthcare analytics and real-world data solutions, has acquired Springbuk, a leading health intelligence platform for employers and their advisors. This transaction adds more than 7,500 small- and mid-market employers to the Truven customer base that already includes more than 40 percent of Fortune 100 employers and 7 of the top 10 U.S. health plans by enrollment.
Employer-sponsored healthcare, often the second-largest expense for companies after the cost of goods and services, is a key focus as businesses emphasize employee wellbeing. Over the last five years, the average premium for family coverage has increased by 24%. Truven and Springbuk share a common goal of using data, analytics and software platforms to identify the insights and actions required to inform healthcare program decisions and reduce the rising costs of employer-sponsored healthcare.
"Truven and Springbuk are a powerful combination that can scale to meet a wide range of employer needs. From small businesses looking for streamlined options to the nation’s largest employers and health plans with complex analytics and care management needs, Truven’s portfolio can quickly get them the actionable insights they require."
— Marcy Tatsch, executive vice president and general manager, Truven
Truven and Springbuk bring together several proven solutions that will continue to serve the employer market. The solutions include:
- Truven Health Insights – a comprehensive data management and healthcare analytics solution that analyzes, visualizes and reports on benefits program performance among hundreds of the largest U.S. employers, benefit advisors, public plan sponsors and health plans. It helps clients understand how programs in place are working, find effective interventions to optimize healthcare spend, and improve employee and health plan performance. Health Insights is exclusively enabled by the full portfolio of MarketScan Benchmarks.
- Truven MarketScan® Databases – a rich, longitudinal source of research-grade real-world data and evidence used by 17 of the world’s top 20 pharmaceutical companies and 50 leading academic institutions. The dataset provides fully adjudicated closed claims and productivity data from more than 350 employer sources and covers more than 300 million unique patient lives. It helps clients develop conclusive evidence with confidence and efficiency.
- Springbuk Health Intelligence Platform – a cloud-native software solution providing fast, actionable insights for benefits leaders and their consultants and brokers, with strong influence in the small- and mid-size employer markets. More than 7,500 employers use the platform that helps clients answer complex health benefits questions with its intuitive, fast-acting reporting and software.
- Springbuk Activate Marketplace – Once employers and benefits advisors uncover actionable opportunities using Springbuk Insights™, they can turn to the Marketplace to find possible partners. It matches employers based on their population’s health needs or risks, showing them opportunities in savings and program engagement, all in one place.
“Our team remains relentlessly focused on tackling the issues of rising healthcare costs, benefits program effectiveness, and improving the health of employees. By joining Truven, Springbuk will scale and help more employers leverage the benefits of Truven’s one-of-a-kind MarketScan data, industry benchmarks and advanced analytics.”
— Joy Powell, chief executive officer of Springbuk
Raymond James & Associates, Inc. served as financial advisor, and Holland & Knight LLP served as legal counsel to Springbuk, Inc., while Benesch Friedlander Coplan & Aronoff LLP served as legal counsel to Merative.
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