Employee Well-Being Providers WebMD Health Services and Limeade to Combine

WebMD Health Services plans to acquire Limeade to “re-energize” the market for employee well-being solutions.

The companies have 40 years of combined experience in creating and delivering well-being solutions, and the transaction is expected to close within the next quarter, WebMD Health Services and Limeade said in a Thursday (June 8) press release.

“Together the combined organization will re-energize the market delivering the most comprehensive, holistic well-being solution and services that help organizations build a culture of well-being that inspires a happier, healthier and more engaged population,” WebMD Health Services General Manager John Harrison said in the release.

The new entity created by this acquisition will have more than 700 employees worldwide providing services dedicated to improving engagement, providing actionable insights, lowering health risks and reducing healthcare costs, according to the press release.

Its solutions and services will include holistic well-being and listening solutions, condition management and lifestyle health coaching, on-site well-being services, biometric screening and a range of offerings from more than 20 partner firms, the release said.

“Limeade and WebMD Health Services creates the only truly complementary combination of culture and well-being in the market, allowing us to maximize health and well-being for all people and deliver better service, support and capabilities for our clients,” Limeade CEO Henry Albrecht said in the release.

This is the latest of several announcements having to do with products and services around employee wellness and health plans.

For example, employee wellness startup Spectrum.Life secured 5 million euros (about $5.34 million) in fresh funding in February to expand its team and further develop and scale its platform.

Spectrum.Life provides remote and in-person counseling services, mental health and well-being coaches, open-ended therapy, digital clinics, employee benefits advisory and financial advice.

“Our goal is to make mental health and well-being support accessible to everyone, and this funding will allow us to bring our game-changing solutions to even more individuals and organizations,” Spectrum.Life CEO Stephen Costello said when announcing the new funding.

Other platforms help employees navigate the health plan maze, manage care and costs, and assist employers in selecting the right offerings.

These platforms meet a need, as PYMNTS research has found that 60% of workers are unfamiliar with their benefits.