OptimizeRx acquires EvinceMed, a specialty drug prescribing initiation platform


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ROCHESTER, Mich., March 15, 2022 (GLOBE NEWSWIRE) — OptimizeRx Corp. (the “Company”) (Nasdaq: OPRX), a leading provider of point-of-care technology solutions that help patients start and stay on treatment, today announced a definitive agreement to acquire the EvinceMed platform and associated assets. EvinceMed is a leader in providing end-to-end automation for specialty pharmaceutical transactions. Acquisition includes comprehensive market access management platform that helps pharmaceutical manufacturers, platform providers and pharmacies improve patient access, speed of treatment and program activation financial accessibility.

Through the EvinceMed platform, OptimizeRx will be able to help patients access the medications they need by simplifying the process of prescribing specialty products, automating manual steps to determine drug eligibility and affordability, and introducing electronic registration and medical documentation into the OptimizeRx workflow. network of over 300 electronic health record (EHR) systems, e-prescribing platforms and account-based marketing technologies spanning over 700,000 providers. The integration of the EvinceMed and OptimizeRx platforms has already begun with an exclusive collaboration that started last year. The full integration of technology assets will strengthen the Company’s ability to help patients initiate and maintain treatment.

While specialty drugs represent only 2.2% of total prescription volume in the United States, they accounted for more than 45% of total pharmaceutical spending, or $218.6 billion in 20191,2. The cost and increasing use of specialty medications has exposed unique barriers to the prescribing process and patient access. Manufacturer support programs provide essential services for access, affordability and adherence to prescription drugs. However, a recent survey of 10,000 patients across multiple therapy areas found that only 20% of patients were aware of these programs3. Physicians and their staff can help patients enroll in these programs, but the enrollment process is often time-consuming and physicians remain dissatisfied with the patient support options currently available. In addition, less than 10% of patient registrations for these support programs are currently done electronically4.

“We are delighted that EvinceMed has grown from an exclusive technology partner over the past year to being part of the team. Given the success we have seen working together, this combination strengthens our position to serve our customers. across the entire HCP network and throughout the patient journey – from the moment the physician logs into their EHR to the point of dispensing at the pharmacy,” said William Febbo, CEO of OptimizeRx. “This acquisition provides significant high-margin cross-selling opportunities to our growing customer base of leading life sciences companies, while further strengthening our business through vertical integration and helping to build momentum to our key performance indicators We expect this acquisition to benefit revenue growth in 2023 as we further grow our network around connectivity with additional partners. »

David Jackson, CEO of EvinceMed, said, “We are very excited to join the OptimizeRx team. The impact of our combined technologies and the reach and scale that OptimizeRx has with pharmaceutical manufacturers is a game-changer for patient access to specialty medicines. By automating the processes and tasks that need to be done before specialty medications are filled and dispensed, we can get patients on treatment much faster and at a lower overall cost. »

OptimizeRx Chief Commercial Officer Steve Silvestro added, “Our commitment to leveraging technology to help providers and patients access the tools they need to improve outcomes is a mission-driven effort. EvinceMed’s assets give us additional resources to do this while expanding the reach of the network to distribution points, a goal we have been pursuing for a long time. Prescribing assistance through automation for providers will both speed up workflows and remove barriers to the specialty prescribing process, ensuring patients have timely access to innovative therapies that change their lives that they need.

OptimizeRx is committed to investing in innovation to bring more workflow-integrated digital solutions to meet the commercialization goals of life science organizations. OptimizeRx currently provides solutions to 19 of the top 20 pharmaceutical manufacturers and seeks to continue to generate long-term, sustainable returns for its customers while supporting initiatives that improve health outcomes. A recent market study commissioned by OptimizeRx revealed that supporting access to specialty medications was a market worth over $12 billion. This acquisition further diversifies OptimizeRx’s revenue streams as the company scales to meet customer needs in this space.

Sources:

  1. US Drug Use and Spending, 2018 Review and Outlook to 2023, IKIVIA Institute, 2019
  2. Spending on specialty drugs is skyrocketing. Can managing the form bring it back to earth?, Managed Care, 2019
  3. Patient services: Pharma’s best kept secret. Accenture Life Sciences, 2016.
  4. Specialty Pharmacy Automation: Identifying Gaps, NCPDP, 2015. https://pocp.com/wp-content/uploads/PDF/6-%20NCPDP_2015_ED_Summit_SpecialtyRx.pdf

About OptimizeRxOptimizeRx is a best-in-class health technology company enabling care-driven engagement between life science organizations, healthcare providers, and patients at critical times throughout the patient care journey. patients. Connecting more than 60% of US healthcare providers and millions of their patients through the smartest technology platform integrated into a proprietary digital point-of-care network, OptimizeRx helps patients start and stay on their medications.

For more information, follow the company on Twitter, LinkedIn or visit www.optimizerx.com.

Important Cautions Regarding Forward-Looking StatementsThis press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “anticipates”, “believes”, “estimates”, “expects”, “expects”, “has intends”, “plans”, “projects”, “targets”, “designed”, “could”, “may”, “should”, “will” or other similar words and expressions are intended to identify such forward-looking statements. All statements that reflect the Company’s expectations, assumptions, projections, beliefs or opinions about the future, other than statements of historical fact, are forward-looking statements, including, without limitation, statements relating to the growth, business plans and future performance of the Company. These forward-looking statements are based on the Company’s current expectations and assumptions regarding the Company’s business, the economy and other future conditions. The Company disclaims any intention or obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by applicable law. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. Future events and actual results could differ materially from those stated, contemplated or underlying the forward-looking statements. The risks and uncertainties to which forward-looking statements are subject include, but are not limited to, the effect of government regulation, competition and other risks summarized in the company’s annual report on Form 10-K for l fiscal year ended December 31, 2020, its subsequent quarterly reports on Form 10-Q and its other filings with the Securities and Exchange Commission.

Contact OptimiserRx

Andy D’Silva, Senior Vice President of Corporate Finance[email protected]

Contact person for media relations Maira Alejandra, Media Relations Manager [email protected]

Investor RelationsAshley RobinsonLifeSci Advisors, LLC[email protected]

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Source: OptimizeRx Corporation

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