Less than two years after Dallas-based Evry Health launched, it’s already gaining traction. McKinney-based Globe Life announced today that it has signed an agreement to acquire the B2B “mobile-first” health insurance startup.
Terms of the agreement were not disclosed.
Founded in 2017, Evry Health differentiates itself from traditional PPOs and HMOs “by reducing healthcare costs through software automation with a mobile-first experience.” Company benefit plans encourage access to preventive health and care by providing no copays or deductibles for in-network care.
“Globe Life is trusted for keeping its promises for generations,” said Chris Gay, Co-Founder and CEO of Evry Health. “We are excited to build a future together where we can serve to deliver digital-first experiences in the group health market. Globe Life accelerates Evry Health’s mission to bring health insurance to humanity.”
Co-Chairman and Co-CEO of Globe Life Matt DardenAndFrank Svoboda welcomes Evry Health’s addition to the Globe Life family of companies.
“Evry Health is on a mission to use today’s technology to build a better health insurance platform for mid-sized employers and their customers,” the co-CEOs said in a joint statement. “Through the power of the Globe Life brand, we look forward to creating new opportunities to support Evry Health as they strive to improve healthcare access and benefits.”
Evry Health emerged from stealth in December 2021
“With today’s technology, signing up for health care or paying your doctor’s bill will be as easy as ordering a pizza,” Evry Health’s Chris Gay said in December 2021. it’s simple with a high-tech, mobile-first approach that focuses on preventative health and reduces costs for mid-sized companies.
Gay added at the time, “we worked to build a better health insurance company from the ground up that could charge less, allowing employers to pass on these savings to their employees and are more competitive in the market.
Evry Health says it launched with a mission to make healthcare affordable, transparent and high-quality again. The startup adds that it uses automation software to reduce healthcare costs, offering expanded benefits at an affordable price, reducing premiums by up to 20%.
From its Dallas headquarters, Evry Health health insurance plans are also available inAustin,HoustonAndSan Antonio, offers “a nationwide network of health insurance in addition to appropriate health care plans at no cost to the employer or employee.”
Globe Life, the name that will be mentioned a lot this week during the Texas Rangers’ American League Championship Series at Arlington’s Globe Life Field, has more than 15,000 insurance agents and 3,000 corporate employees. The company said it and its subsidiaries issue “more life insurance policies and have more policyholders than any other life insurance company in the country, with more than 16.8 million policies in effect”.
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