Transformational Event

Revel Health and Novu Health Merge to Create Leading Health Action Program

January 2021
Revel Health (“Revel”) was a technology-enabled engagement solutions provider that partnered with health plans to enhance member experience and population health. TT Capital Partners (TTCP) became the first institutional investor in 2017, providing capital and expertise for the next phase of Revel’s growth. TTCP believed Revel’s multi-channel approach, history of executing complex engagement campaigns, and demonstrated customer ROI positioned the company to serve the growing needs of plans to create a more member-friendly healthcare experience. TTCP played an integral role in Revel’s growth from a fundamentally strong business with untapped potential to a scalable organization with hardened internal processes and positioning.

Value Creation

 
  • Actively supported repositioning of the value proposition to differentiate in an evolving market
  • Facilitated a substantial number of introductions to new clients and existing client leaders
  • Supported Revel’s investment in technology to create a more scalable model and efficient cost structure
  • Played a lead role in identifying and attracting talent, including recruiting two value-add Board members
  • Led the search and evaluation of new vendors to streamline supply chain
  • Provided tools, offered process guidance, and played an integral role in content creation and quality assurance for the integration of Revel and Novu

 
TT Capital Partners was instrumental in the transformation of Revel Health. They played an integral role in attracting the best talent and building inroads into top-tier healthcare organizations. As an entrepreneur and CEO, TTCP’s on-going support and deep capabilities were exactly what I was looking for from my investing partner.
Results

Revel’s partnership with TTCP helped the company realize a transition from niche vendor into a fast-growing technology-enabled partner to leading national and regional health plans. As a TTCP portfolio company, Revel roughly tripled its revenue and more than tripled its client base.

Revel merged with Novu Health in the fall of 2020 to form Icario, a leading platform with capabilities to engage populations of all health acuities. Today, Icario serves approximately 50 healthcare organizations, including seven of the top 10 largest health insurers. TTCP believes the combined business is well-positioned as an industry leader, bringing to market a compelling and scaled set of member engagement solutions to serve health plans across Medicare Advantage, Medicaid, and commercial populations.
 
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