Wellness tech company Virgin Pulse, which recently announced its HQ move to Providence, is merging with Minneapolis-based RedBrick Health, its rival.
WPRI.com reports that while financial terms of the deal weren’t disclosed, its set to become final this month, and that Providence will still serve as the merged entity’s HQ.
Marlin Equity Partners, a private equity firm based in Los Angeles, was behind the deal, purchasing Virgin Pulse from its previous investors. The company already has taken over RedBrick, and Virgin Pulse CEO David Osborne said the merge brought “substantial investment” from the firm.
“Bringing RedBrick’s live and digital coaching and benefits navigation together with Virgin Pulse’s mobile-first, daily engagement platform allows us to deliver the industry’s only global, one-stop-shop for employees and employers,” Osborne said.
He’ll stay on as CEO of the merged entity.
