OurHealth, a fast-growing, 11-year-old Indianapolis-based company that provides medical clinics for employers in Indiana and five other states, is merging with a Vermont company, creating a combined operation with 200 clinics in 40 states.
OurHealth said it has merged with Marathon Health, a 15-year-old company based in suburban Burlington. Terms were not disclosed.
Marathon and OurHealth will be renamed later this year under a single brand that has yet to be determined. Until then, both businesses will continue with their own brands.
OurHealth, based at 10 W. Market St. downtown, said it expects no job losses from the merger. It employs about 225 people in Indiana.
Marathon Health is the larger of the two companies, with about 700 employees and operations from Nevada to Florida. OurHealth has about 300 employees, with operations in Indiana, Illinois, North Carolina, Ohio, Pennsylvania and Tennessee.
The merger will allow the operation to grow faster, with more clinical technology and ancillary services, said Ben Evans, co-founder and CEO of OurHealth. All existing clinics from both companies will remain open with no interruption to patient care, he said.
“This is about playing offense,” Evans said. “Speed and scale matter in health care.”
The combined company will be led by existing senior leadership of both companies. Jerry Ford, CEO of Marathon Health, will be CEO of the combined organization. Evans will be chief strategy officer, and Dr. Jeff Wells, co-founder and president of OurHealth, will serve as president. All three will serve on the board.
General Atlantic, a growth equity firm based in New York, will be the majority shareholder of the combined organization. It initially invested in Marathon Health in 2019.
OurHealth has been a tear since it was founded in 2009. What it does is set up and operate primary-care clinics under the MyClinic brand on or near its customers’ worksites. Doctors, nurses and health coaches help employees create goals for losing weight, managing cholesterol, diabetes and other health issues.
The goal is to help employees get healthier and save employers money on health care through fewer claims and lower premiums.
Three years ago, OurHealth announced it had raised $37 million in financing and planned to hire hundreds of employees in coming years, more than doubling its workforce.
Evans said OurHealths’s revenues grew 45% in 2019 and 40% in 2018. He declined to provide revenue figures.
In Indiana, big clients include the city of Indianapolis, OneAmerica, Ice Miller LLP and the Indianapolis Airport Authority.