Today we are pleased to announce that Liazon was acquired by one of the world’s largest professional services companies, Towers Watson. When we invested in Liazon, it was because they were the market leader in one of the most interesting emerging markets in healthcare – private health exchanges. With today’s acquisition, Towers Watson confirms that view.
Liazon demonstrates the incredible power of a functional healthcare “marketplace” – power that comes from giving consumers more choice and control in personal healthcare decisions.*
Liazon is also a shining example of entrepreneurism at its best:
- A set of founders that looked at an inefficient and ineffectively run market and dreamed that there had to be a better way to do it.
- A talented team from both the healthcare and technology worlds that came together to build industry-leading software that nailed the “product-market” fit for shopping for health insurance online.
- A group of dedicated, committed people who didn’t build a successful iphone app over night but who instead toiled and persevered through many twists and turns over the last six years and ultimately built a pioneering company which could transform healthcare in this country.
In fact, recent analyst reports have predicted that over the next five years somewhere between thirty and fifty million Americans will purchase their healthcare benefits via a private exchange solution.
Liazon’s founder and CEO, Ashok Subramanian, said it best when he wrote about the acquisition on the company’s website: “What started as a crazy idea over 6 years ago (letting people make benefits decisions for themselves? Shopping for health insurance online?) is almost a norm today. The concept of a benefits marketplace has been embraced by the largest companies in the world, as well as the U.S. government.”