Brazilian Health Insurer SulAmérica Announces Five-Year Agreement with Healthways
Collaboration Structured to Serve 1.5 Million Members While Fostering Membership Expansion
NASHVILLE, Tenn. & RIO DE JANEIRO--(BUSINESS WIRE)-- SulAmérica, the largest independent health insurer in Brazil, with more than 2.5 million members in healthcare and dental services, today announced a five-year strategic agreement with Healthways (NAS: HWAY) , the world's largest well-being improvement company. This collaboration in Brazil allows Healthways access to more than 1.5 million of SulAmérica's adult members and establishes SulAmérica's growth platform as the premier driver of well-being and performance improvement for employers and individuals in Brazil.
Beginning in the second quarter of 2013, Healthways will serve the largest population ever managed in one single contract in Brazil and Latin America. The five-year contract is also the first model between a leading U.S. company and a leading Brazilian health insurer designed to actively manage and improve a population's health and well-being. Initially, the focus of services will be a comprehensive assessment of the health and well-being of a significant portion of the SulAmérica population. During 2013, the two companies will jointly develop a progression plan for the implementation of additional elements of the Healthways Well-Being Improvement Solution (WBIS).
"We are proud to join forces with Healthways, which has a strong record of generating positive health-related impacts and reduced costs for thousands of clients and millions of people worldwide through solid, proven science-based solutions," said SulAmérica President Gabriel Portella. "We chose Healthways, as a global leader, to improve our health management capabilities, so that we could reach all our members with scalable solutions. Today we are expanding our capabilities with this partnership to improve our competitive position by providing advanced programs that further strengthen healthcare in Brazil. Our aspiration is to offer the most comprehensive and effective services to our customers."
Outside the United States, Brazil is the largest and fastest growing private healthcare market in the Americas. The Brazilian healthcare market has been bolstered by a growing middle class. It is expected to grow twice as fast as the U.S. market.
Brazil's five biggest healthcare and insurance providers by market value have increased sales by an average of 29% annually in each of the past three years. That compares with an average expansion of 5.7% for the five biggest in the U.S.
"In the world's sixth largest economy and the fifth most populous nation, SulAmérica will be pioneering new ways to help keep healthy people healthy, reduce modifiable life-style risks and optimize care for those with known chronic disease or persistent health conditions," said Ben R. Leedle, Jr., Healthways President and CEO. "We congratulate the leadership of SulAmérica for their vision and determination to bring the most comprehensive well-being improvement capabilities into the Brazilian market, as they act upon their objective to be the leading health insurer in Brazil."
Leedle went on to comment, "Countries across the world are facing the same issues, regardless of their healthcare system, with increasing chronic disease prevalence and escalating healthcare costs. Healthways' outcomes on multiple continents are indicative of the improvements in population health and well-being that lead to reductions in healthcare spending. Healthways' success in scaling its solutions to large populations is the direct result of its ongoing development of unique solutions to improve health and well-being that are based on proven science and include strategic collaboration with a number of leading institutions."
Healthways is the largest independent global provider of well-being improvement solutions. Dedicated to creating a healthier world one person at a time, the Company uses the science of behavior change to produce and measure positive change in well-being for our customers, which include employers, integrated health systems, hospitals, physicians, health plans, communities, and government entities. We provide highly specific and personalized support for each individual and their team of experts to optimize each participant's health and productivity and to reduce health-related costs. Results are achieved by addressing longitudinal health risks and care needs of everyone in a given population. The Company has scaled its proprietary technology infrastructure and delivery capabilities developed over 30 years and now serves approximately 40 million people on four continents. Learn more at www.healthways.com.
SulAmérica Insurance, Pensions and Investments, with 117 years of history, is the largest independent insurer in the country. Since October of 2007, when the company made the largest public offering of shares made by a Brazilian insurance group, it is part of the Level 2 of the Different Practices of Corporate Governance from BM&FBovepa. From January to September of 2012, the company registered R$ 7,9 billion in premium, which represents a growth of 14,2% over the same period from the previous year. With over 6,7 million customers, SulAmérica operates in four segments: Health and Dental; Autos and Casualties; Personal Insurance (Life and Personal Accidents) and Private Pensions and Assets Management.
KEYWORDS: United States Brazil North America South America Tennessee
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