Willis Towers Watson acquires healthcare firm TRANZACT

Willis Towers Watson (WTW) has acquired the direct-to-consumer healthcare organization TRANZACT. A release revealed that the total purchase price of the transaction is $1.2 billion in closing consideration; with an additional potential earn-out of up to $200 million payable in either cash or stock in 2021 should financial targets be met. Following the transaction, TRANZACT will operate as part of WTW’s Benefits Delivery and Administration (BDA) business. TRANZACT links individuals to US insurance carriers via digital marketing, sales, and data science expertise, a release said. The company boasts 1,300 employees, including 850 licensed agents. The firm currently markets a wide range of products, such as Medicare Advantage, Medicare Supplement, Prescription Drug Plan (PDP), and ancillary products which include dental, vision, life and indemnity.