The transaction will enable TrialCard to fortify its presence in the pharmaceutical marketplace
TrialCard Inc., an ISO 27001 certified pharmaceutical technology company, announced the acquisition of RxSolutions that specializes in customized pharmaceutical reimbursement programs for both commercial and clinical supply professionals.
In addition to its traditional pharmaceutical co-pay programs, RxSolutions has introduced the RxStudy Card™, a revolutionary solution that streamlines supply management for pharmaceutical manufacturers conducting clinical trials. Moreover, the RxStudy Card saves the sponsor one-third or more of the cost of open-label study components by allowing patients to obtain unblinded medications and supplies at trusted retail and specialty pharmacies.
The acquisition will enhance TrialCard’s footprint within the pharmaceutical solutions marketplace while diversifying its customer base and expanding into the clinical trial space. TrialCard’s will strive to benefit RxSolutions customers by leveraging its market access capabilities and state-of-the-art technology.
The deal complements TrialCard’s vision
Mark Bouck, President, and CEO, TrialCard, stated, “We are excited to announce this agreement, which brings together two well-respected, Triangle-based organizations,” he added, “This acquisition advances TrialCard’s vision to diversify and enhance our service offerings to our customers. We are very impressed with the business that RxSolutions has built and the culture they have maintained. RxSolutions is a great fit for TrialCard due to its affordability programs, longstanding presence in this space, and commitment to the patient.”
Tom Heck, President of RxSolutions, said, “I would like to thank the entire RxSolutions team for all that we have accomplished and the inroads that we’ve made into the clinical trial space.” Further, he added, “We feel like the opportunity to join forces with a market leader like TrialCard is in the best interests of the brands that we support and the patients that we serve.”
Recent enhancements in solutions by TrialCard
In December 2018, TrialCard announced improvements to its pharmacy fraud detection and mitigation solution. The improvements included the development and use of its proprietary tool, “Spotlight,” to discover potentially fraudulent pharmacy claims activity on a near real-time basis. This early detection tool enables TrialCard to identify and block pharmacies that are routinely submitting fraudulent co-pay claims before payment is made to the pharmacy in question.
About a partnership with EvinceMed
In September 2018, the company also announced to collaborate with EvinceMed, a company that streamlines and automates the specialty medication prescription process for providers, specialty pharmacies, hubs, PBMs, and health plans. According to Scott Dulitz, Senior Vice President, Enterprise Strategy and Corporate Development, TrialCard, this union will enhance many of the industry-leading patient support services that TrialCard currently operates, leading to higher prescription fill rates and reduced abandonment.