Renaming and repositioning a healthcare technology company for Initial Public Offering.
Building upon multiple acquisitions, MedAssurant’s innovations in healthcare data analytics required a new story and new name. With a visionary CEO and executive team, the time was right to transform the brand to signal an evolution of how managed healthcare could work better.
1. The legacy name, MedAssurant, was often confused with insurance or medical device companies.
2. Diverse audiences included health plans, care providers, life science companies, and pharma organizations.
3. Rapid growth required the need to align, inform and inspire the internal team.
UNDIFFERENTIATED AND LOST IN A SEA OF SAMENESS
RESEARCH REVEALED DEEP INSIGHTS
MedAssurant’s vision was to transform the way managed healthcare works through a unique combination of sophisticated data analytics and targeted intervention.
Internal and external research confirmed the company was results-driven, inspired by innovation and offered a viable, effective solution to improve healthcare outcomes.
CREATING A BRAND POSITION AND A NAME BASED ON INTERNAL STRENGTHS AND MARKETPLACE NEEDS
The existing name MedAssurant mis-positioned the company in a way that made it sound like one of its primary clients—insurers.
Recent innovations created an opportunity to become a new type of health care data analytics company – one who could improve the outcomes of patients, support the clinical work of providers, and bolster the financial performance of insurers.
BrandingBusiness developed new brand positioning which informed the new name, Inovalon.
NEW NAME AND IDENTITY RE-ENERGIZES THE BRAND AND TRIGGERS AN INNOVATIVE STORY
The name was built upon a number of key components embedded in the new story and served as a means to re-introduce the company to its target audience and proclaim their new distinction.
RETAINING VISUAL EQUITY WHILE RE-INTRODUCING THE NEW BRAND
BrandingBusiness created not only a strong typographic rendering of the Inovalon name —carefully coupling it with its legacy symbol—but developed an entire visual brand language to coherently re-shape all of its print and online communications.
A SYNCHRONIZED INTERNAL AND EXTERNAL LAUNCH
BrandingBusiness developed a launch plan and supporting communications to reveal the new name, value proposition, vision and values to the company’s 2,000 employees across the country.
Moments later the news was shared to key clients and then broadly across the industry – proclaiming a new brand that would transform how managed healthcare works.
“The BrandingBusiness team helped navigate our executive group expertly through a complex corporate transformation on the way to a new brand positioning, naming strategy, identity and successful launch. They did this with intelligence, business savvy, creativity and peerless professionalism. By sharing best practices, providing strategic counsel, managing expectations, and giving us a sound strategic framework within which to evolve our brand, they were the ideal branding partner for us at a very critical point in our business evolution.”