San Francisco-based Included Health has signed a definitive agreement to acquire Watertown, Mass.-based Firefly Health, a clinically integrated health plan and advanced primary care company, according to a July 28 press release.
The deal is expected to close in the third quarter of 2026, subject to regulatory review. Financial terms were not disclosed.
Firefly Health serves more than 20,000 individuals nationally and reported 15% lower total cost of care across its full administrative services only book of business in 2025 compared to a risk-adjusted market benchmark, with every customer reporting savings and one exceeding 17%. The company pairs NCQA-accredited primary care with navigation to a network of more than 2,300 in-person, in-home, and specialty partners.
Included Health offers employers navigation, virtual and in-person care and care coordination across tens of millions of members. The acquisition is intended to add Firefly’s health plan architecture and primary care model to Included Health’s AI-native platform, giving employers an integrated alternative to traditional health plan design.
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