Glen Tullman, Chief Executive Officer, Transcarent

Building great businesses is something that I love to do, and part of that includes knowing when and how to effectively scale. Acquisitions allow companies to grow by incorporating existing innovations, increasing market share, and many times, expanding the workforce for greater impact. In my 30+ years of building businesses, I have led dozens of mergers and acquisitions of all sizes and on both sides of the transaction. Having witnessed many successes and a few pitfalls, I believe that a shared mission and like-cultures are strong determinants of whether or not a transaction will be successful. 

I always say that it is easier to fix something, than to start from scratch. So long as the leadership teams who are involved in a transaction share similar values and relentlessly believe that together, they can deliver a better experience for the end user, M&A activity can be incredibly powerful, improve outcomes and business operations, and be a smart investment.  

When I first met with the team at 98point6, the leader in AI-enabled virtual care, I saw the value their technology, their clinic, and their wildly talented team, could bring to the future of Transcarent and our Members. With experience dating back to 2017 they were forward-thinking, ahead of the curve in healthcare AI, had a robust portfolio of clients and Members, and most importantly, shared a similar mission as Transcarent. Simply put, they were committed to making health and care better for people, including the physicians and others who deliver care and those of us who receive it. They were looking for directional support, commitment, and leadership that would put their technology in the hands of many more people . . .  a strength of ours at Transcarent, and we were in search of forward-looking technology that could transform the virtual primary care experience. After our first discussions, the transaction was complete.  

Over the past year, our teams came together with the mindset of “one.” One Team. One Mission. One Place for Health and Care. This cultural mindset was ingrained from the start and made for a nearly flawless integration. Yes, we dropped a few balls along the way, but people always knew what our intent was . . . to make this the best place people ever worked and to create an experience of health and care that was new, better, and different than anything else they had come across. I am proud to say we can celebrate one year as one company that has undeniably achieved more together than we ever could have achieved alone. 

Nothing is more important than our health and care.  And no industry will have more impact on our success as a country in the future. However, despite its importance, no industry is more in need of change and improvement. 98point6 made it easy to access care 24x7x365 – easier and faster than ever before – without losing the physician connection. Since acquiring 98point6, we have continued to invest in their revolutionary AI-powered health and care experience. We even had the opportunity to highlight in front of Congress how we are delivering an experience, leading with clinical expertise, from start to finish, that is private and secure, and built to meet and exceed the needs of health consumers. Additionally, we introduced point-of-care navigation capabilities by combining the power of Transcarent's digital platform and benefit ecosystem with virtual care delivery. Expect to hear more from us regarding AI and the ways it will transform virtual primary care visits.  

One of the things we are most proud of is that we are leveraging one of our greatest assets, clinicians, for the part of the visits that require their intellect and experience. Due to the personal nature of this industry, we can’t rely on technology alone. When considering the acquisition with 98point6, their affiliated Physician Group was one of the strongest selling points. The talented and caring physicians, nurses, and other clinicians who comprise the group complete the experience we’re trying to create at Transcarent . . . one that people love, offers high-quality health and care, and does so at a price that people can afford.  

When we founded Transcarent, we knew the vision of bringing all of health and care, both virtual and in-person, together on a single platform, wasn’t going to be easy or fast. But we’re here, committed as ever, with a steadfast focus on our mission of providing access to high-quality, affordable health and care. We’ve taken the steps necessary, including M&A activity and integrating other innovative solutions into our platform, to build an easy-to-use platform for our Members and clients and company for our employees. 

Our work is well underway, we’ve come a long way, but as Bill Gates wisely said, “If I'd had some set idea of a finish line, don't you think I would have crossed it years ago?”  

Thanks to everyone at Transcarent for your hard work and commitment to making the last year a success.