Generali Global Assistance Acquires CareLinx

9/25/17

Generali Global Assistance 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.

About Generali Global Assistance

Generali Global Assistance, formerly Europ Assistance USA, a division of Europ Assistance Group, has been a leading provider of travel insurance and other assistance services for more than 25 years. The Company offers a full suite of innovative, vertically integrated travel insurance and emergency services, identity protection solutions, and beneficiary companion services. Europ Assistance Group, the pioneer of the assistance industry, founded in 1963, is a trusted partner to millions around the world, relentlessly innovating care and mobility services to improve people's lives in the most difficult and stressful situations, securing peace of mind and independence.

Thanks to our global network of a network of 750,000 approved partners and 35 assistance centers, we deliver non-stop caring through our 24/7 contact points and a culture which embraces technology as a way to become simpler and smarter for those who count on us. We globally support 300 million customers with stand-alone services or in combination with insurance coverage and solutions for day-to-day or emergency situations 24 hours a day, 365 days a year across five lines of business: Automotive, Travel, Health, Home & Family and Concierge & CRM. Leveraging its medical staff, the Europ Assistance Group carried out 11.7 million interventions and handled 72 million calls globally in 2016.

Part of the Generali Group, one of the world's leading insurers, Europ Assistance Group employs 7,898 staff members across 34 companies around the world who support our customers, from individuals to largest corporations.

About CareLinx

CareLinx improves access to affordable, quality home care for families with aging or loved ones with disabilities. It is the leading online nationwide caregiver marketplace with over 200,000 caregivers on platform. CareLinx partners with health systems and insurance companies to provide the plug and play post-acute care solution that delivers on-demand comprehensive support, visibility into the home and the cloud-based tools for centralized, real-time interventions. CareLinx, founded in 2011, is a Silicon Valley-based company currently working with families, healthcare organizations and insurance companies across the United States and can be found online at home.carelinx.com.

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