--This partnership will bring innovative solutions and differentiated products to Brazil
RIO DE JANEIRO, March 12, 2015 /PRNewswire/ -- Sul America S.A. (BM&FBovespa: SULA11), the largest independent insurer in Brazil, announced today an association between its subsidiary SulAmerica Servicos de Saude S.A. and US-based Healthways Inc. (NASDAQ: HWAY), the largest independent provider of well-being improvement solutions. The purpose of this association is to foster the development of this activity in the Brazilian market. The two companies will be partners in Healthways Brasil Servicos de Consultoria Ltda., which will be held in the proportion of 49% by SulAmerica and 51% by Healthways.
The association is the result of a closer relationship between the two companies that began in 2013 with the implementation of Active Health platform by SulAmerica, the largest program focused on health coaching and well-being in Latin America, available for up to two million health insured individuals. "In our joint work, SulAmerica has demonstrated its commitment to bring the real innovation and change for the Brazilian healthcare market, embracing well-being solutions as a sustainable way for the improvement of the health of its customers," states the president of Healthways International, Peter Choueiri. "Our long-term agreement is indicative of the mutual determination to help people lead a healthier, happier and more productive life," adds Choueiri.
The association is in line with the strategic objective that SulAmerica has followed to combine integrated healthcare management and claims management. "This has been the most successful strategy, with real benefits in the medium and long term for everyone involved in the supplementary health insurance value chain: for people it means to live better and longer; for employers, increase employee productivity; for health insurance companies, a new effective way for managing risks; and for the society, a fundamental approach to maintain economic vitality," said the president of SulAmerica, Gabriel Portella. "We are developing innovative solutions and differentiated products in this area, and offering the latest in quality of life, education and health promotion for our customers, thus contributing to the establishment of a new dynamic in claims management in the private health industry," he adds.
Healthways will manage the business and will benefit from the synergy and ability that SulAmerica has to open new market segments where it can offer well-being solutions, targeting employers, public and private health plans, providers and individuals throughout Brazil.
Healthways Brasil will continue to be the leading provider of well-being improvement solutions to two million members of SulAmerica's health plans.
The expansion of the presence of the US company in Brazil is based on the successful work of the company in developing wellness solutions for large populations in the four continents. The association is comparable to the highly integrated partnerships that Healthways has already promoted in the United States with major health plans. "The alignment of our capabilities with partners around the world, who share our vision of improving health of the population through the quality of life, is proving to be a successful formula for Healthways," said Choueiri.
SulAmerica is the largest independent insurer in the country. The company is listed on the BM&FBovespa at Level 2 of Corporate Governance since October 2007. In 2014, the company recorded total revenues of US$ 16.9 billion and net recurring profit record of R$ 548.7 million. Established in 1895, the company operates in various lines of insurance such as health and dental, vehicles and other property and casualty insurance. With over seven million customers, SulAmerica still operates in life insurance, private pension, asset management and savings bonds.
Healthways is the largest independent global provider of well-being improvement solutions. Dedicated to creating a healthier world one person at a time, the Company uses the science of behavior change to produce and measure positive change in the well-being of its customers, which include employers, integrated health systems, hospitals, physicians, health plans, communities and government entities. The company provides highly specific and personalized support for each individual and their team of experts to optimize each participant's health and productivity and to reduce health-related costs. Results are achieved by addressing longitudinal health risks and care needs of everyone in a given population. The Company has scaled its proprietary technology infrastructure and delivery capabilities developed over 30 years and now serves approximately 68 million people on four continents. Learn more at www.healthways.com.
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SOURCE Sul America S.A.