Remodel Health, a provider of individual coverage health reimbursement arrangement (ICHRA), is planning to make at least two acquisitions in the next 24 months, Chief Marketing Officer Andy Clark said.

The Indianapolis-headquartered business wants to acquire technology and service companies that contribute to Remodel delivering “a wholistic solution to their customers,” he said.

Remodel Health is profitable and well financed, having raised USD 100m in December 2024, Clark said. Its largest shareholder is Oak HC/FT, he added.

Remodel looks at targets in artificial intelligence and financial technology in fields such as payroll, HR integration, and financial health, he said. Deals could also make sense to expand into employee navigation related companies or ancillary segments such as HRA (Health Reimbursement Arrangement), HSA (Health Savings Accounts) or vision and dental reimbursement plans, he added.

“I think of employee navigation related companies as technology (often AI) companies that act as a consumer experience layer sitting between employees, insurance and the overall healthcare systems. Helping them to understand, choose, access and use their benefits,” Clark explained.

Attractive acquisition candidates should be profitable and beyond the “start-up phase,” Clark said. Remodel Health is already in talks with some targets, he added, noting heightened interest in the space which is reflected in transaction prices.

Remodel might acquire majority as well as minority stakes and is also interested in partnerships. Deals will be financed with a mix of cash, equity and debt, the executive said.

In February 2024, the company acquired PeopleKeep, a Utah-based employee benefits firm.

In 2025, the company reported that its main product ICHRA+ achieved more than 150% in profitable sales growth. Clark expects this product to continue to grow at a rate of 100% in 2026. In 2025, it reported net revenue retention of 90%.

Founded in 2015, Remodel Health saw early adaptors of its alternative health plan in the Midwest and in the East, he said. He added that the business is now also growing in the south and west, where it is planning to hire five to 10 people in sales and marketing.

The company expects to grow its current headcount of 200+ by 20% to 25% this year, Clark said. Besides the regional staff, it plans to expand its technology team and hire health advisors to provide personalized services to customers.

Remodel Health’s offering includes ICHRA+ for enterprises and PeopleKeep for smaller businesses. Its competitors include Take Command Health, and Zorro in the segment of small businesses, he said.

Alternative health plans offer a flexible and efficient alternative to traditional health insurance plans. They allow employers to reimburse employees for health insurance marketplace premiums and other qualified expenses, promoting personalized coverage, according to the company website.

Clark had been an executive advisor for Remodel Health since January 2023. In February of this year he was appointed CMO.