Generali Global Assistance has acquired CareLinx, a tech-enabled caregiver marketplace that aims to improve access to affordable, quality home care for families, large health systems, and insurance companies.
Professional caregivers in the CareLinx network leverage proprietary digital care plans to better assist the elderly, individuals with disabilities, and people with chronic health conditions with activities of daily living. CareLinx seeks to improve quality of care delivery for these patients while reducing the overutilization of in-patient healthcare costs for families through in-home care solutions.
Generali Global Assistance, formerly Europ Assistance USA, is a division of Europ Assistance Group, a leading provider of assistance services for more than 50 years and part of Generali Group, the 3rd largest insurer in the world with over $80 Billion in annual revenues, and is one of the world's 50 largest companies.
"As the senior population continues to rise, both families and health systems are faced with the dilemma of how to provide an adequate level of quality, but affordable care," Chris Carnicelli, CEO of Generali Global Assistance, said in a statement. "CareLinx shares our mission of improving lives through services that can lessen the impacts of life's most stressful periods and by providing them with the necessary resources to rapidly expand their market share, we believe we will help them positively affect change to senior care services in the United States."
CareLinx boasts a nationwide network of over 200,000 caregivers who provide personal in-home care for families, and support safe transitions of care, which is critical to the success of large health systems, and insurance companies. The company's platform revolutionizes transparency, and facilitates active coordination in the post-acute care environment, leading to increased quality of care, better health outcomes, and significantly reduced total cost of care.
Generali Global Assistance plans to combine CareLinx's technology and network with its existing remote clinical support capabilities to offer a wide spectrum of post-acute assistance services.
"We at CareLinx have always been committed to creating a platform that ensures superior senior-care services to empower families through highly personalized, quality, and affordable care from the comfort of home," Sherwin Sheik, CEO of CareLinx, said in a statement. "This dedication to caring aligns exactly with the mission of Generali Global Assistance and their unmatched ability to provide telehealth services is a perfect complement to our in-home caregiving service."
PricewaterhouseCoopers Advisory SpA, together with PricewaterhouseCoopers Corporate Finance LLC, acted as exclusive financial advisor to Europ Assistance Holding on the transaction.