San Diego, CA – NextImage Medical recently announced that it has completed the purchase of WorkWell, Inc. The individual company product lines will continue to operate under their respective names. Liz Griggs, Chairman and CEO of NextImage Medical, will become the CEO of the combined entity. The financial terms of the acquisition were not made public.
NextImage Medical is backed by Louisville, KY-based Chrysalis Ventures. The firm’s Managing Partner, Koleman Karleski, sits on the company’s board of directors.
WorkWell is the pre-eminent leader in soft tissue injury prevention and treatment. For 23 years, WorkWell has delivered employer services and solutions that improve workforce wellness, availability, and productivity as well as provided innovative, proactive musculoskeletal wellness solutions. WorkWell’s business model is supported by three distinct service areas: Onboarding/PreWork Screens (PWS) for new hires, On-Site prevention and therapy, and specialized training for Physical Therapists, Occupational Therapists, and other healthcare providers in WorkWell’s proprietary programs.
Liz Griggs, Chairman & CEO of NextImage Medical, commented, “Much of the workers’ compensation marketplace has not yet benefited from the kind of high quality programs that WorkWell offers. WorkWell has been known for very high quality physical and occupational rehabilitation training and producing significant cost savings through providing faster return to work, improving function, and helping employers avoid similar future injuries from specific jobs.”
Ms. Griggs continued, “The acquisition of WorkWell is expected to drive meaningful value for the existing customers of both companies. NextImage has been committed to developing and delivering best-in-class solutions within our areas of expertise. With this acquisition, we will build on that clinical expertise and highly skilled network of local providers to deliver the best possible services – returning injured workers to higher quality life and work.”
Margot Miller, PT, the long-time clinical and operational leader at WorkWell, commented, “We are very excited about the opportunity to now be part of NextImage. We believe our combined product offerings will provide a high quality, comprehensive solution like no other in the marketplace. We will continue to do business as WorkWell Systems due to market recognition. We look forward to the growth opportunities that becoming part of NextImage Medical provides us.”
Chrysalis Ventures Managing Partner, Koleman Karleski commented, “NextImage has long been an innovator in workers’ comp and this acquisition further reinforces NextImage’s leading market position in an industry in which it’s increasingly important for managed care companies to have a multiproduct offering.”
Source: NextImage Medical