HII buys health insurance big data firm

|By:, SA News Editor

Health Insurance Innovations (HIIQ +5.9%) acquires privately-held Silicon Valley-based HealthPocket for ~$32m in cash and stock. Under the terms of the purchase agreement, HIIQ pays ~$20.8M in cash plus ~788K shares of HIIQ common stock plus options to purchase ~113K shares of HIIQ common.

HealthPocket analyzes and aggregates the largest repository of health insurance information available and uses it to power its consumer website.

Consumers have free one-click access to review on-and-off exchange individual major medical, Medicare, employer-sponsored  and ancillary health plans, ranked by price, doctor or hospital provider and/or by personal prescription drug needs.