OptimizeRx Corp., a provider of digital health messaging for the pharmaceutical industry, today announced it has acquired CareSpeak Communications, a provider of interactive health messaging for improved medication adherence and care coordination. For OptimizeRx, the acquisition addresses the critical industry need for direct communication between pharma and patients, supporting greater medication adherence, patient engagement, and health outcomes
As part of the acquisition, CareSpeak will maintain its personnel at its Somerset, New Jersey headquarters. Financial details of the acquisition were not disclosed.
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.
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 the 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 with 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.”
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 (SEC).
