Acquisition addresses critical industry need for
direct communication between pharma and patients, supporting
greater medication adherence, patient engagement and health
outcomes
OptimizeRx Corp. (NASDAQ: OPRX), a leading provider of digital
health messaging for the pharmaceutical industry, has acquired
CareSpeak Communications, a leader in interactive health messaging
for improved medication adherence and care coordination.
OptimizeRx bridges the communication gap between pharma and
providers with its digital health messaging platform that is
delivered through a nationwide network of leading electronic health
record (EHR) and ePrescribing providers. With CareSpeak, the
company expands its reach to communicate directly to patients,
resulting in greater medication adherence, persistence and
affordability. This strategic acquisition follows a year of record
growth for OptimizeRx, diversifying its revenue streams and scaling
its current solution.
“There are immense resources being poured into quality
improvement and value-based care, all for the simple reason that it
improves outcomes and reduces costs for all stakeholders,” said
William Febbo, CEO of OptimizeRx. “By adding CareSpeak’s
complementary capabilities to our platform, we extend our ability
to engage doctors and patients, and improve health. CareSpeak
allows us to further bridge the critical communication gaps between
pharma, healthcare providers and patients.”
According to a recent study, between 25 and 50 percent of
patients worldwide do not take their medications as recommended. In
the U.S. alone, sub-optimal adherence has been associated with
125,000 deaths and 10 percent of hospitalizations, and costs the
industry up to $289 billion annually. By deploying CareSpeak’s
technology through its nationwide digital health network,
OptimizeRx will encourage medication adherence and persistence more
effectively through greater affordability, patient engagement and
interactive communication.
Clinical studies show CareSpeak’s automated patient engagement
platform leads to better patient outcomes and can extend patient’s
time on therapy with specialty medications for up to 3.5 months.
CareSpeak-powered intervention reduces payer medical cost by $140
per member per month, according to published data.
“One of the keys to any good patient adherence and support
program is an easy and seamless way for patients to get enrolled,”
said CareSpeak CEO, Serge Loncar. “CareSpeak’s mission is to serve
the patient along their whole therapy journey with the right
information at the right time, and OptimizeRx’s has the ability to
serve the right message to the HCP and their patients at the point
of prescribing. This ‘teachable moment’ will have a significant
impact on creating a streamlined experience for the patient,
leading to higher enrollment rates and ultimately improved
outcomes.”
The integration of CareSpeak’s HITRUST certified and HIPAA
compliant mobile messaging platform enables direct, real-time
communication to patients. CareSpeak helps patients manage their
own health with medication reminders, refill notices, side effect
management information, and cost-saving co-pay programs. In
addition, patients can contact nurse support services if
needed.
Added Febbo: “We are excited to join forces with Serge and his
team. We see a great cultural fit given our mutual mission to
transform communication across the provider-pharma-patient care
continuum. This investment allows us to drive additional
opportunities for revenue growth, extending our reach within our
existing client base as well as enhancing our digital platform to
facilitate more scale.”
Additional details about the acquisition will be available in a
Form 8-K to be filed by OptimizeRx with the U.S. Securities and
Exchange Commission, accessible in the investor relations section
of the company’s website at www.investors.optimizerx.com.
CareSpeak will maintain its personnel at its Somerset, New
Jersey headquarters. OptimizeRx is being advised by Excel Partners
on the transaction.
For more information on OptimizeRx, visit www.optimizerx.com.
About CareSpeak Communications CareSpeak
Communications’ HIPAA compliant and HITRUST certified Automated
Patient Engagement Platform helps patients be more compliant with
their medical therapy and supports them throughout their healthcare
journey via interactive messaging, and care coordination
interventions. CareSpeak develops custom programs for
pharmaceutical manufacturers, specialty pharmacies, health plans,
as well as clinicians at some of the leading medical centers.
CareSpeak has demonstrated clinical efficacy and positive
commercial impact across a wide range of disease verticals from
coronary heart disease and diabetes, to transplant and oncology
patients. CareSpeak Communications, Inc. is headquartered in
Somerset, New Jersey, USA, with offices in Zagreb, Croatia (EU).
Visit www.carespeak.com for more information.
About OptimizeRx OptimizeRx® (NASDAQ: OPRX) is
one of the nation’s leading providers of digital health messaging
via electronic health records (EHRs), providing a direct channel
for pharma companies to communicate with healthcare providers. The
company’s cloud-based solution supports patient adherence to
medications by providing real-time access to financial assistance,
prior authorization, education, and critical clinical information.
The company’s network is comprised of leading EHR platforms like
Allscripts, Amazing Charts and Quest, and provides more than half
of the ambulatory patient market with access to these benefits
within their workflow at the point-of-care. For more information,
follow the company on Twitter, LinkedIn or
visit www.optimizerx.com.
Important Cautions Regarding Forward Looking
Statements This press release contains forward-looking
statements within the definition of Section 27A of the Securities
Act of 1933, as amended, and such as in section 21E of the
Securities Act of 1934, as amended. These forward-looking
statements should not be used to make an investment decision. The
words 'estimate,' 'possible' and 'seeking' and similar expressions
identify forward-looking statements, which speak only as to the
date the statement was made. The company undertakes no obligation
to publicly update or revise any forward-looking statements,
whether because of new information, future events, or otherwise.
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
set forth in, contemplated by, 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 material risks.
OptimizeRx ContactDoug Baker, CFOTel (248)
651-6568 x807dbaker@optimizerx.com
Media Relations ContactNicole Brooks, Innsena
Communications(Tel) 860-800-2344nicolebrooks@innsena.com
Investor Relations ContactRon Both, CMATel
(949) 432-7557oprx@cma.team
OptimizeRx (NASDAQ:OPRX)
Historical Stock Chart
Von Jun 2024 bis Jul 2024
OptimizeRx (NASDAQ:OPRX)
Historical Stock Chart
Von Jul 2023 bis Jul 2024