Texas-based Empyrean Benefit Solutions firm acquires Bloom Health

July 07--Bloom Health, a Minneapolis-based health benefits company, has been acquired by Empyrean Benefit Solutions, the Houston-based firm announced this week.

Financial terms were not disclosed.

Bloom Health was founded in 2009 and grew quickly in the world of private online health insurance exchanges, which was touted as an innovative way to sell health plans.

In 2011, Bloom Health sold a majority stake to WellPoint Inc., which is now the health insurance giant Anthem, as well as two nonprofit Blue Cross Blue Shield insurers.

All three insurers will continue to provide health plans through the newly combined company, Empyrean said in a news release.

Before the deal announced this week, Bloom Health and Empyrean already were partners. The local firm's empoyee benefit delivery program already uses benefits administration technology from Empyrean.

"This is the culmination of a seven-year journey that the Bloom team undertook in pursuit of transforming the health care benefits marketplace," said Jim Priebe, the chief executive of Bloom Health, in a news release.

Bloom Health was co-founded by Abir Sen, a serial entrepreneur in the Twin Cities who previously ran RedBrick Health and was a co-founder of Definity Health.

Twitter: @chrissnowbeck

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