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Market Overview for Technology for Aging in Place

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Generali Global Assistance Acquires CareLinx, A Leader In National In-Home Care Solutions

NEW YORK and SAN FRANCISCO, Sept. 25, 2017 /PRNewswire/ -- Generali Global Assistance ("the Company") today announced that it has acquired CareLinx, a leading nationwide, tech-enabled caregiver marketplace improving access to affordable, quality home care for families, large health systems, and insurance companies. CareLinx professional caregivers leverage proprietary digital care plans to better assist the elderly, individuals with disabilities, and people with chronic health conditions with activities of daily living. CareLinx seeks to improve quality of care delivery for these patients while reducing the overutilization of in-patient healthcare costs for families through in-home care solutions.

Generali Global Assistance, formerly Europ Assistance USA, is a division of Europ Assistance Group, a leading provider of assistance services for more than 50 years and part of Generali Group, the 3rd largest insurer in the world with over $80 Billion in annual revenues, and is one of the world's 50 largest companies.

Chris Carnicelli, CEO of Generali Global Assistance, commented on today's news, "Healthcare in general, and CareLinx in particular, have a direct synergy with our value proposition of providing 'non-stop caring' to our customers, and we are excited about the prospects of this partnership. As the senior population continues to rise, both families and health systems are faced with the dilemma of how to provide an adequate level of quality, but affordable care. CareLinx shares our mission of improving lives through services that can lessen the impacts of life's most stressful periods and by providing them with the necessary resources to rapidly expand their market share, we believe we will help them positively affect change to senior care services in the United States."

Building on seven years of operating success, CareLinx now boasts a nationwide network of over 200,000 tech-enabled caregivers who provide personal in-home care for families, and support safe transitions of care, which is critical to the success of large health systems, and insurance companies. The CareLinx platform revolutionizes transparency, and facilitates active coordination in the post-acute care environment, leading to increased quality of care, better health outcomes, and significantly reduced total cost of care. Generali Global Assistance plans to combine this tech-enabled, nationwide network of non-clinical in-home caregivers with its existing remote clinical support capabilities to offer a wide spectrum of post-acute assistance services. Generali Global Assistance's remote support center currently provides 24/7 nurse and doctor-supported telephonic medical assistance and navigation, soon to be leveraged by CareLinx customers and partners.

Sherwin Sheik, CEO of CareLinx, commented, "We at CareLinx have always been committed to creating a platform that ensures superior senior-care services to empower families through highly personalized, quality, and affordable care from the comfort of home. This dedication to caring aligns exactly with the mission of Generali Global Assistance and their unmatched ability to provide telehealth services is a perfect complement to our in-home caregiving service. We are absolutely thrilled to join Generali Global Assistance and with our massive collective resources and prior success with large national health systems, accountable care organizations, and insurance companies, we are ready to dramatically transform healthcare delivery in the U.S. and empower millions of seniors to age gracefully at home."

PricewaterhouseCoopers Advisory SpA, together with PricewaterhouseCoopers Corporate Finance LLC, acted as exclusive financial advisor to Europ Assistance Holding on the transaction.

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Monday, September 25, 2017

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