Transactions
January 22 2013
DRX Acquired By Connecture
Company Description
DRX, Inc. is the leading provider of Web-based prescription drug comparison and Medicare health plan comparison and enrollment solutions. The Company’s decision and transaction support technologies are at the forefront of the healthcare industry-wide shift to consumerism and transparency. DRX’s offerings are supported by two core technologies, Plan Compare and Drug Compare. The Plan Compare tool facilitates real-time cost comparison and enrollment in Medicare Advantage, Medicare Part D, and Medicare Supplemental plans. Drug Compare supports cost comparison of prescription drug alternatives by therapeutic equivalent, generic alternative, retail location, and retail versus mail options. DRX serves both government and commercial sectors with its customer base spanning the Centers for Medicare and Medicaid Services (CMS), pharmacy benefit managers (PBMs), health plans, field marketing organizations (FMOs), brokers and other consumer advocates. For over 8 years, DRX has been providing insurance exchange solutions to CMS through Medicare.gov and for all 1-800-Medicare call center agents.
Objectives
DRX and its key stakeholders, including Lemhi Ventures, Yankee Investment Holdings and Diamond Creek Investments, engaged TripleTree to assess timing considerations and strategic options for the Company. TripleTree was chosen as the exclusive advisor to DRX due to its unparalleled experience in working with companies that are pioneers in the shift to consumerism and transparency in healthcare, as well as its deep expertise in the commercial and government payer verticals. The Company’s primary considerations for this transaction were selecting a partner with a shared vision of the future and the capabilities to build upon and supplement DRX’s core technologies.
Results
While assessing the market, Connecture distinguished itself from other alternatives due to its natural synergies with DRX. Connecture is the leading provider of Web-based information systems used to create health insurance marketplaces and exchanges for individual and small group plans. The assimilation of DRX’s core technologies and expertise, which are particularly renowned within Medicare and federal arena, with Connecture’s capabilities in adjacent markets creates an integrated distribution platform that can simultaneously and seamlessly address the needs of the commercial insurance and government health plan marketplaces.
LEAD INVESTMENT BANKERS
David Brownlie
Jonathan Hill
Scott Donahue
Company Description
DRX, Inc. is the leading provider of Web-based prescription drug comparison and Medicare health plan comparison and enrollment solutions. The Company’s decision and transaction support technologies are at the forefront of the healthcare industry-wide shift to consumerism and transparency. DRX’s offerings are supported by two core technologies, Plan Compare and Drug Compare. The Plan Compare tool facilitates real-time cost comparison and enrollment in Medicare Advantage, Medicare Part D, and Medicare Supplemental plans. Drug Compare supports cost comparison of prescription drug alternatives by therapeutic equivalent, generic alternative, retail location, and retail versus mail options. DRX serves both government and commercial sectors with its customer base spanning the Centers for Medicare and Medicaid Services (CMS), pharmacy benefit managers (PBMs), health plans, field marketing organizations (FMOs), brokers and other consumer advocates. For over 8 years, DRX has been providing insurance exchange solutions to CMS through Medicare.gov and for all 1-800-Medicare call center agents.
Objectives
DRX and its key stakeholders, including Lemhi Ventures, Yankee Investment Holdings and Diamond Creek Investments, engaged TripleTree to assess timing considerations and strategic options for the Company. TripleTree was chosen as the exclusive advisor to DRX due to its unparalleled experience in working with companies that are pioneers in the shift to consumerism and transparency in healthcare, as well as its deep expertise in the commercial and government payer verticals. The Company’s primary considerations for this transaction were selecting a partner with a shared vision of the future and the capabilities to build upon and supplement DRX’s core technologies.
Results
While assessing the market, Connecture distinguished itself from other alternatives due to its natural synergies with DRX. Connecture is the leading provider of Web-based information systems used to create health insurance marketplaces and exchanges for individual and small group plans. The assimilation of DRX’s core technologies and expertise, which are particularly renowned within Medicare and federal arena, with Connecture’s capabilities in adjacent markets creates an integrated distribution platform that can simultaneously and seamlessly address the needs of the commercial insurance and government health plan marketplaces.
LEAD INVESTMENT BANKERS
David Brownlie
Jonathan Hill
Scott Donahue
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