One of the largest health insurance companies in the nation has agreed to buy local benefits management platform myNEXUS from its investor group, with the deal expected to close in the second quarter.
Brentwood-based myNEXUS runs a network of more than 250 clinicians and a digital platform that automates post-acute home health care for a network of approximately 1.7 million Medicare Advantage members across 20 states. Its sale to Anthem, the terms of which were not disclosed, bolsters the insurance giant’s home health capabilities amid an industry shift to leverage technology to establish more points of care, including in a patient’s home. In a press release, Anthem leaders said myNEXUS’ expertise aligns with their strategy “to manage integrated, whole person multi-site care and support.”
“Providing timely care for members in their homes allows for both excellent personalized care as well as the comfort of being in preferred environments,” said Prakash Patel, an Anthem executive vice president and president of its Diversified Business Group. “Bringing the right level of whole-person care into the home has been demonstrated to improve outcomes, reduce readmissions and improve members’ and their family’s experience of wellbeing.”
Launched in 2014, myNEXUS is led by Juan Vallarino, a former longtime executive at HCA Healthcare. He also is an advising partner to New York-based private equity company WindRose Health Investors, which is selling the company.
“The myNEXUS team is thrilled to be partnering with Anthem to build upon the value we deliver to our customers and their members. The strength of Anthem’s Diversified Business Group platform will allow us to broaden our capabilities as we strive to transform how quality healthcare is delivered to the people we serve,” Vallarino said in the release.