Univita Health, the innovator in providing home-based care management, has announced it has signed a definitive agreement to sell its Insurance Administration Services division to Stone Point Capital, a financial services private equity firm.
Terms were not disclosed. In addition, the company announced the appointment of Michael A. Muchnicki as Chief Executive Officer.
"As we focus on our core integrated health care business with health plans, health systems and at-risk physician groups, we welcome Michael Muchnicki, an accomplished leader with over 25 years of experience in health care delivery and managed care, including management positions at United Health Group and Cigna Healthcare. We also thank Jean Haynes for her leadership in bringing Univita to this important milestone," said Ben Lytle, Univita’s Chairman.
"I’m excited to join Univita, as its proven home-based care management programs are in increasing demand from health plans and health systems nationwide with managed Medicare and Medicaid, commercial and dual eligible populations," said Muchnicki.
Univita’s integrated home care program – skilled nursing, durable medical equipment and infusion pharmacy – manages over five million members under risk arrangements nationwide. Univita provides over 1.5 million in-home transition, skilled home care and therapy visits annually.
In addition, Univita’s national team of nurse practitioners and registered nurses performed over 450,000 in-home and telephonic assessments in the last year.
The sale of Univita’s division will allow Univita to continue to expand its proven integrated home care delivery model as the single source solution for the post-acute care continuum. With the post-acute market size estimated at over $60 billion, there is a recognized need for expertise integrating across the care continuum of acute and post-acute services in the hospital, skilled nursing facility, long term acute care facility, as well as in the home environment.
Univita is leveraging its over 25 years of integrated home care and care management expertise, demonstrating its proven ability to consolidate fragmented health care services all while reducing hospital admissions and readmissions for the highest risk, most complex populations.