Principal takes ownership in wellness company
Wednesday, May 22, 2013 11:32 AM
Principal Financial Group Inc. announced this morning that it has entered into a strategic agreement with a Maryland-based health care services company to offer comprehensive wellness programs to corporate clients. Under terms of the agreement, which is expected to close July 1, Principal will make a financial investment in Accountable Health Inc., and transfer ownership of Principal Wellness Co. to Accountable Health. Employees of Principal Wellness Co. will become employees of Accountable Health, which will offer wellness programs to business and health-plan clients. Terms of the deal were not disclosed. "Accountable Health will have the ability to bring the best of both our companies and an increased focus and resources to clients, which are necessary to continue to expand in the highly competitive and rapidly changing health and wellness market," said Deanna Strable, senior vice president for Principal's U.S. Insurance Solutions, in a release. Based in Rockville, Md., Accountable Health also will have offices in Des Moines and Indianapolis, where Principal Wellness is currently based.