Hive Health Philippines Inc., a health insurance startup, said it has acquired Health Plan Philippines Inc. (HPPI), one of the pioneers in health maintenance organization (HMO) service providers in the country.
Hive Health said it will be able to share its technology and data-driven innovations with Health Plan’s existing members. It will also be able to integrate Health Plan’s nationwide provider network and institutional knowledge built across 37 years with its core capabilities.
“We have just begun the hard work of making healthcare radically more accessible. The goal is for all Filipinos to feel secure that their health is taken care of, and to give employers a sustainable way to take part in making that happen,” Camille Ang, co-founder and CEO of Hive Health, said.
She declined to disclose the acquisition cost.
“Hive Health’s journey to date, especially with the acquisition of HPPI, marks a significant milestone, not just for our company but also for the Philippine startup landscape. It underscores the potential of startups like Hive Health to shrink the change and make an impact on intractable problems.”
Natasha Reyes, CEO of Health Plan said Hive Health has been a partner of the company for years.
“I have seen how the team is able to deliver changes to improve the patient experience much faster than I would have expected, and how they genuinely care about making healthcare accessible to more Filipinos. We are excited for the journey ahead as Hive Health and HPPI join forces.”
Hive Health is a full-stack digital health insurer. It offers comprehensive HMO health plans for small and medium-sized firms and startups, encompassing outpatient, inpatient, emergency, and dental care through an extensive nationwide network of 1,700 hospitals and clinics, and over 60,000 doctors across the country.
“We started Hive Health with the mission to make healthcare more accessible in the Philippines and in many other developing countries where social safety nets are capped. Our goal is to leverage tech and data to make quality healthcare more affordable and easier to use, especially for the underserved SME segment,” Jiawen Tang, president and co-founder of Hive Health, said.
“We’re also proud of our one-of-a-kind vertically integrated telehealth and care coordination model that bridges virtual and in-person care. Patients can book on-demand video teleconsultations with our team of Hive doctors, who use our in-house electronic medical records system to enable patients to get more accurate diagnoses and access the right care whenever they need it.”