BOSTON, MA--(Marketwire - Jan 18, 2012) - Leading U.S. employers are increasingly turning to effective, technology-based employee wellness programs to improve workforce health and boost business performance. The growing reliance on this strategy is reflected in Virgin HealthMiles' impressive 2011 business momentum, which the company shared today. Over the past 12 months, Virgin HealthMiles has enjoyed the best year in its history as new organizations select the company's market-leading solutions. In 2011, Virgin HealthMiles continued to offer employee health solutions that drive higher employee awareness and engagement, and better measurement and insight into the impact of employers' wellness investments. Today, the company shared key milestones highlighting this success.
"The strength of our business, in contrast to what was another challenging year for many companies, proves Virgin HealthMiles is meeting a critical need for America's top employers," said Chris Boyce, CEO of Virgin HealthMiles. "More large organizations are putting their trust in us, knowing our innovative technology-based platform helps them maximize the effectiveness of their employee health and wellness initiatives and drive real, impactful results for their employees and their businesses. Unlike many of our industry peers that struggle yearly with high customer churn rates, Virgin HealthMiles' significant 2011 growth and robust cash position from operations further underscores the value employers and their employees are getting from our solutions."
Key 2011 Business Milestones:
Revenue
- Virgin HealthMiles 2011 revenues increased 50 percent over 2010 due to new customer engagements combined with recurring revenues from existing customers. Additionally, Virgin HealthMiles achieved a cash flow positive position from operations during this time.
- The company doubled the size of its average client implementation, thanks to outstanding success in selling directly to leading U.S. employers.
Customers
- Large employers continue to put their trust in Virgin HealthMiles' proven ability to engage employees and drive real health improvements that boost productivity and lower healthcare costs. In 2011, the company added new clients to its roster, including organizations such as: AOL, Fairchild Semiconductor, Horizon Healthcare Services, Inc., Hunter Douglas, Norfolk Southern Corporation, and Schwabe North America. These organizations join over 100 existing Virgin HealthMiles clients in using the range of the company's industry-leading offerings.
Solutions and Services
- Virgin HealthMiles' Summer and Fall '11 product releases continued to add important new solutions and service capabilities to its platform:
- With Summer '11, Virgin HealthMiles unveiled Integrated Incentives. This first-of-its-kind incentives platform leverages SaaS-based technology to help employers promote and incent all of their wellness programs in one place, streamline employee communications, and drive higher employee engagement and better results from their health and wellness strategy. The company also released new real-time reporting functionality. Real-time reports provide employers with up-to-date and easy to access information to accurately evaluate individual program performance and overall health improvements, as well as target areas for improvement and future investment.
- With Fall '11, Virgin HealthMiles built upon its industry leading capabilities and introduced Connections -- a breakthrough solution that provides employers with one social platform for all their health and wellness programs. The company also introduced new activity tracking capabilities that engage even more of an employer's workforce, helping organizations keep things simple with one easy program that fits all fitness levels.
- With Summer '11, Virgin HealthMiles unveiled Integrated Incentives. This first-of-its-kind incentives platform leverages SaaS-based technology to help employers promote and incent all of their wellness programs in one place, streamline employee communications, and drive higher employee engagement and better results from their health and wellness strategy. The company also released new real-time reporting functionality. Real-time reports provide employers with up-to-date and easy to access information to accurately evaluate individual program performance and overall health improvements, as well as target areas for improvement and future investment.
Boyce concluded, "Virgin HealthMiles offers innovative solutions Corporate America needs to improve workforce health. We're extremely bullish about our business prospects as we continue to release new products and features, and expand our internal operations throughout this coming year."
About Virgin HealthMiles
Virgin HealthMiles, part of Sir Richard Branson's famed Virgin Group, provides programs and technologies that engage your workforce in good health. We offer a range of solutions and program integration capabilities that help employers drive higher awareness and engagement, and better measurement and insight into the impact of all your employee health investments. Our Pay-for-Prevention™ programs, based on physical activity and healthy lifestyle change, attract an average of 50 percent of employees who participate, which helps organizations reduce medical costs and improve employee productivity and satisfaction. Over 130 industry leaders representing more than 700,000 employees across the U.S. have selected Virgin HealthMiles' award-winning programs for their employees. For more information, visit www.virginhealthmiles.com.
Contact Information:
Media Contact:
Kathy Wilson
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