Vitality Group International acquires Icario

● STRATEGIC | HEALTHCARE

SEPTEMBER 3, 2026

Vitality Group International (Discovery Limited) acquires Icario

TARGET

Member engagement and health action platform for US health plans offering health risk assessments, care gap closure, Medicare Star Ratings improvement, and personalized incentive programs for Medicaid, Medicare Advantage, and DSNP populations.

Ownership	PE-backed
Prior owner	CVC Capital Partners
Investors	CVC Capital Partners, Noro-Moseley Partners
Headcount	201-500 FTEs
Headquarters	Minneapolis, Minnesota
Leadership	Marc Willard, Chief Executive Officer
Sell-side advisor	—

ACQUIRER

Vitality Group International

Global behavioral-change engagement platform serving health plans and employers to drive better health outcomes through data, behavioral science, and incentives

Deal value	$59.5M total consideration
Ownership	Subsidiary
Parent	Discovery Limited
Headquarters	Chicago, Illinois
Buy-side advisor	—

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Vitality Group International -> Icario  (2026-09-04)
strategic_acquisition | Healthcare | $59.5M total consideration | closed
Target: Member engagement and health action platform for US health plans offering health risk assessments, care gap closure, Medicare Star Ratings improvement, and personalized incentive programs for Medicaid, Medicare Advantage, and DSNP populations.
Website: icariohealth.com | Buyer site: vitalitygroup.com
HQ: Minneapolis, Minnesota | Ownership: pe-backed | Seller: CVC Capital Partners | Buyer sponsor: Discovery Limited | Buyer ownership: subsidiary
Advisors - not yet credited
Source: Thematic - https://thematichq.com/software/d/vitality-group-international-icario.html

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