Digital-first health and wellbeing provider Telus Health revealed plans to accelerate its global growth and innovation as it unveiled a new partnership with private equity firm GTCR.
The union follows the recent $500 million acquisition of Fortune 500 wellbeing services provider Workplace Options. Telus said that the acquisition gives it access to a network of 180,000 providers in 200 countries and territories.
To support the provider’s expansion, GTCR will invest $200 million to enable Telus to support clients across all digital channels and countries, which the provider said covers more than 150 million lives.
“Today marks a transformative milestone in our global health technology journey,” said Darren Entwistle, president and CEO of Telus.
“By uniting Telus Health and Workplace Options, we are creating an unprecedented breadth of experience and expertise that will drive global consistency in employee and family assistance programmes (EFAP) and wellbeing solutions in a way that is unmatched in our industry.”
Entwistle said the purchase of Workplace Options furthers the provider’s practice of partnering with other providers, digital health organisations, health plans and employers to create a more robust and localised offering, but one that is “executed at a global scale”.
He added that this combination, underpinned by the provider’s AI expertise, ability to draw on common technologies, trends and advancements “will unlock high-quality health outcomes for all constituents in a way previously unrealised”.
Fellow Telus executive Navin Arora said: “This is more than an acquisition, it’s an extension of our vision to build one of the most comprehensive suites of health and wellbeing solutions globally.”
Arora, who is executive VP at Telus, and president of Telus Business Solutions, Health, Agriculture & Consumer Goods, and Partner Solutions, added: “With our differentiated and complementary products and services and a strong base of local and multinational clients worldwide, we’re excited about unlocking significant growth opportunities, new revenue streams and powerful economies of scale.”
