Novu Inc. and Revel Health have settled on a name for their combined company: Icario.
The two digital health care companies announced their merger last October; terms of the deal weren't disclosed at the time. Icario is led by CEO Steve Wigginton, who was previously the CEO of Novu; Revel CEO Jeff Fritz is staying on as an advisor to the CEO and the board.
"Bringing Revel and NovuHealth together under one brand has allowed us to accelerate new product development to solve healthcare problems quickly in a highly interconnected way. There has never been a more important time to improve people’s health," Wigginton said in a statement.
The name Icario (pronounced ih-car-ee-oh) is derived from the Greek island of Icaria, Wigginton said. Icaria is a so-called "blue zone," or a place on Earth where a lot of people live much longer than average.
"It's obviously a made-up word," Wigginton said. "We were keen to reflect a modern, forward-looking company."
Icario has just under 300 employees; it's based out of Novu's old offices in St. Louis Park and Revel's space in Minneapolis. A decision about Icario's real estate won't come for some time, Wigginton said, because the majority of the firm's employees are still working remotely.
Icario provides white-label digital consumer engagement tools for health care organizations. That can mean anything from designing campaigns to promote annual check-ups to encouraging healthier behaviors in patients, like taking their medication each day. Icario makes tools for over 50 health insurance companies, including seven of the ten biggest companies. Over 10 million members use Icario's tools each month.
