- Digital workplace specialist LiveTiles (LVT) has revealed its latest contract is with United Healthcare Group
- The multi-million-dollar deal was announced yesterday however LiveTiles didn’t disclose how much or with who
- United Healthcare Group is the insurance arm of multi-billion dollar United Health Group which offers LiveTiles’ significant growth potential
- The contract is for a three-year term and will see United implement LiveTile’s products for its employees
- The deal is valued at $3 million but there is room for this to increase to $12 million should United employee more people or need additional products and services
- Following the clarification, LiveTiles’ shares have dropped 5.17 per cent to trade at 27.5 cents
LiveTiles (LVT) has released further details on the multi-million-dollar deal it announced yesterday.
Initially, LiveTiles said the deal was made with a Fortune 100 healthcare company, however, that was all that was revealed about the customer. Now, LiveTiles has revealed the deal was signed with United Health Group’s insurance subsidiary, United Healthcare Group.
United Health Group is a Nasdaq-listed company with a market cap of US$310.13 billion (roughly A$399.9 billion). It is the largest health insurance provider in the U.S which provides LiveTiles with significant potential for growth.
The three-year deal involves United Healthcare Group purchasing LiveTiles’ workplace solutions, with a particular interest in LiveTiles Reach. LiveTiles Reach will be used to implement a digital workplace solution that combines all of UHG’s employee experience needs into one solution.
The contract has a three-year term and is valued at $3 million. However, this has the potential to grow to $12.2 million based on the possible growth of United’s employee headcount over the next five years and the inclusion of more products and services.
Following the clarification, LiveTiles’ shares have dropped 5.17 per cent to trade at 27.5 cents at 12:37 pm AEDT.