Marlin completes acquisitions and merger of Virgin Pulse and RedBrick Health

May 22, 2018, LOS ANGELES, CA – Marlin Equity Partners (“Marlin”) is pleased to announce that it has acquired Virgin Pulse and RedBrick Health (“RedBrick”), two leading global providers of employee wellbeing solutions. Marlin has merged the two industry pioneers to create the world’s largest, most comprehensive digital health and engagement company. This powerful combination will deliver the industry’s only fully integrated digital platform with benefits navigation and live coaching to support global clients and members across the entire health, wellbeing and benefits lifecycle.

“Our investment, which brings together two leaders in the health and wellbeing market, underscores our strong belief in the potential to transform this highly fragmented industry,” said Michael Anderson, a managing director at Marlin Equity Partners. “This is a multibillion-dollar market that is hungry for innovation, desperate for disruption and ripe for consolidation, and we are committed to doubling down on these two leaders to move this market forward and unlock the value of employee health and wellbeing.”

Virgin Pulse and RedBrick are clear industry leaders in employee health, wellbeing and engagement, with each company delivering highly complementary capabilities to the market. Virgin Pulse is widely recognized for having the industry’s highest member engagement rates on its personalized, mobile-first platform that supports employees in improving their health and wellbeing. RedBrick has firmly established itself as the partner of choice for large enterprises, with its highly configurable workflows and best-in-class health coaching and live services.

Together, Virgin Pulse and RedBrick have one of the largest global customer bases in the industry. The combination of the two companies also creates an extensive and growing network of strategic ecosystem partners spanning mental wellbeing, financial wellbeing, sleep, nutrition, telemedicine, cost transparency, treatment decision support and more.

“We are thrilled to join with RedBrick to set a new vision and standard for employee health, wellbeing and engagement,” said David Osborne, CEO of Virgin Pulse, who will serve as CEO of the combined company. “Bringing together RedBrick’s live and digital coaching and benefits navigation with Virgin Pulse’s mobile-first, daily engagement platform allows us to deliver the industry’s only global, one-stop-shop for employees and employers. As first-movers in this space, and with substantial investment from our new partner, Marlin Equity Partners, we are well-positioned to execute an aggressive growth strategy and change even more lives around the world for good.”

Dan Ryan, CEO of RedBrick remarked, “Virgin Pulse and RedBrick are a logical fit, and it should be no surprise that we are finally coming together. The merger is a win for the entire industry – clients, consumers, partners, consultants – and raises the bar for what employers and employees should expect from their engagement partner. Combining our product portfolios and resources allows us to maximize our investments in R&D and operations, and ensures that our clients and consumers have access to the best, most innovative wellbeing and engagement solutions and services available.”

RedBrick and Virgin Pulse will unite under the Virgin Pulse name but will continue to operate as separate brands. The combined organization will be based out of Virgin Pulse’s corporate headquarters in Providence, RI, and will maintain a major office in Minneapolis, MN and a coaching center in Phoenix, AZ. The company also has global centers of excellence in multiple international locations, including Australia, Canada, the United Kingdom, Switzerland, Bosnia, Brazil and Singapore.

Financial details of the transaction have not been disclosed. William Blair & Company, LLC acted as financial advisor and Kirkland & Ellis LLP served as legal advisor to Marlin. Evercore acted as financial advisor and Willkie Farr & Gallagher LLP served as legal advisor to Virgin Pulse. Raymond James & Associates, Inc. acted as financial advisor, and Goodwin Procter LLP served as legal advisor to RedBrick.

About Marlin Equity Partners

Marlin Equity Partners is a global investment firm with over $6.7 billion of capital under management. The firm is focused on providing corporate parents, shareholders and other stakeholders with tailored solutions that meet their business and liquidity needs. Marlin invests in businesses across multiple industries where its capital base, industry relationships and extensive network of operational resources significantly strengthen a company’s outlook and enhance value. Since its inception, Marlin, through its group of funds and related companies, has successfully completed over 120 acquisitions. The firm is headquartered in Los Angeles, California with an additional office in London. For more information, please visit www.marlinequity.com.

About Virgin Pulse

Virgin Pulse, a leading provider of technology solutions that promote employee engagement and wellbeing, and part of Sir Richard Branson’s Virgin Group, helps employers create workforces that are happier, healthier and ultimately more productive. The company’s modern, mobile first platform delivers a personalized user experience that utilizes gamification to engage members in building habits that inspire meaningful and measurable change across individuals and the businesses they serve. By helping employees thrive at work and in all aspects of life, Virgin Pulse is helping change lives and businesses across more than 190 countries for good. More than 3,000 global organizations representing many of the Fortune 500 and Best Places to Work, have selected Virgin Pulse’s solutions to engage their workforces and drive their businesses forward. To learn more, visit VirginPulse.com and follow us on Twitter or LinkedIn.

About RedBrick Health

RedBrick helps companies transform the health of their organizations by inspiring their people to be fully engaged in life and at work. Starting with each person’s unique needs, RedBrick combines advanced behavior science, adaptive technology and a deep bench of live experts. The industry’s most highly configurable platform actively integrates each organization’s benefits and resources with RedBrick’s own extensive content and capabilities. Hundreds of leading organizations rely on RedBrick to measurably improve their well-being and benefits engagement, while delivering a better employee experience. To learn more, visit RedBrickHealth.com and follow the company on Twitter or LinkedIn.

For additional information, please contact Peter Spasov at (310) 364-0100 or via e-mail at pspasov@marlinequity.local.