Optum, Red Ventures team on consumer health joint venture

Optum has quietly teamed with Red Ventures on a new joint venture focused on consumer health.

The venture, called RVO Health, covers a mix of assets from both parties, including Optum's Store and Perks and Red Ventures' Healthline Media and Healthgrades. Virtual coaching platforms Real Appeal, Wellness Coaching and QuitForLife, news first reported by Axios.

Through these elements, RVO includes a slew of consumer offerings including doctor ratings through Healthgrades, medical information and communications from Healthline, Optum Perks' prescription savings card and home delivery of health and wellness products through Optum Store.

"The JV will accelerate RV Health's access to new products, services and solutions, as well as provide access to a sizable first-party data audience, while UHG will enhance its digital transformation and momentum from Red Venture's technology platform and digital marketing expertise," according to an analysis from Moody's Investors Service.

Ownership and leadership of the joint venture are unclear, but Moody's said that RV did receive cash proceeds in exchange for the assets it contributed.

Optum has been busy in the acquisition front of late, particularly focusing on continuing to build out its provider business. Two of its big-ticket mergers are under the federal microscope, a $5 billion acquisition of LHC Group and the $13 billion buy of Change Healthcare.