UnitedHealthGroup Buys Majority Interest of Audax, Gamification and Data Mining/Selling Platform Operation–Subsidiary Watc
Posted Feb 19 2014 10:56pm
This is yet another move from the Optum Subsidiary of Untied and if you visit the their pages at the SEC you will find 15 pages of subsidiary companies, everything from a bank, cheap hearing aids, to hospice for profit.
The LHI subsidiary in the United group does VA exams and big DOD occupational health events. Information quote from the website below…
“We have administered private occupational health services in support of various federal agencies including the Centers for Disease Control and Prevention (CDC), Federal Occupational Health Service (FOHS), Department of Defense (DoD) and the Veterans Health Administration (VHA). We support a wide variety of customers, including: National Institute for Occupational Safety and Health (NIOSH), U.S. Army Medical Command (MEDCOM), the Army Reserve, Army National Guard, Air Force Reserve, Air National Guard, Army Dental Command, Navy Reserve, Army Corps of Engineers, Coast Guard, Military Sealift Command and other Federal agencies. LHI also supports a number of private sector clients with occupational health services, including four of the Class 1 railroads operating in the United States.”
So in addition to games the platform works with the normal data selling devices and apps you see out there everywhere…and as mentioned there are two former United executives on the board of this company and not the first time United has done this with start ups leaving United and then United opting in to interests or in this case a majority shareholder.
As MobiHealthNews pointed out last month, at least two of Audax’s executives are former UnitedHealth employees. Dogu Celebi and Phil Harker, Audax senior vice presidents for informatics and client development, respectively, both come from divisions of Optum.Optum, a division of the UnitedHealthcare group, has purchased a majority stake in Audax Health Solutions in a deal “which included cash, options, preferred stock, and significant working capital,” according to Audax.
Around the same time, Audax filed a $29 million funding raise with the SEC. It’s likely that Optum’s investment was contained within that round.
The deal will not affect Audax’s existing relationships with customers, even United competitors like Cigna, whose CIO Mark Boxer sits on Audax’s board. Audax told MobiHealthNews in an email those existing relationships would continue.