PRNewswire | August 11, 2023
Capital Rx, the health technology company changing the way prescription drugs are priced and patients are cared for in America, has received a strategic investment from Memorial Hermann Health System, a non-profit health system committed to creating healthier Houston communities. Memorial Hermann joins Capital Rx's existing investors in supporting the development of JUDI®, the new standard for backend claims processing platforms in the pharmacy benefit management (PBM) industry, and the overall growth of Capital Rx's full-service PBM and pharmacy benefit administration (PBA) platform as a service (PaaS) solution.
"We're thrilled to have the investment support of Memorial Hermann as we work to modernize this country's claims processing infrastructure and deploy our aligned customer model to more employers, unions, municipalities, and other payers to create enduring change," said AJ Loiacono, Co-Founder & CEO of Capital Rx. "It's especially rewarding because we share the same values and prioritize community, compassion, credibility, and having the courage to be innovative in everything we do."
Capital Rx's JUDI brings exponential operational efficiency and control to Medicare, Medicaid, and commercial plans and prescription claims processing. A modern, open, and scalable platform, JUDI allows for seamless communication and data integration between vendors and across the continuum of care. Importantly, its intuitive design and workflows save time, allowing health systems and other payers to allocate resources more efficiently and toward what matters most: caring for patients and members in the communities and populations they serve.
"As we assessed the health care ecosystem for innovative capabilities to help accelerate the evolution of the pharmacy service model and prescription claims processing, Capital Rx's vision for a framework that prioritizes efficiency and allows for exceptional patient care set the company apart for investment consideration," said Feby Abraham, Ph.D., Executive Vice President and Chief Strategy Officer at Memorial Hermann. "Capital Rx's platform is focused on bringing clarity and consistency to drug prices, broadening access to medication, and helping its clients control pharmacy costs, all without sacrificing member service and patient outcomes."
The Health Management Academy's Strategic Partnership Alliance, which explores new venture and investment opportunities on behalf of a group of the country's largest health systems, identified Capital Rx as a mission-aligned disruptor with next-generation technology for its members, including Memorial Hermann.
About Memorial Hermann Health System
Charting a better future. A future that's built upon the HEALTH of our community. This is the driving force for Memorial Hermann, redefining health care for the individuals and many diverse populations we serve. Our 6,700 affiliated physicians and 32,000 employees practice the highest standards of safe, evidence-based, quality care to provide a personalized and outcome-oriented experience across our more than 260 care delivery sites. As one of the largest not-for-profit health systems in Southeast Texas, Memorial Hermann has an award-winning and nationally acclaimed Accountable Care Organization, 17* hospitals, and numerous specialty programs and services conveniently located throughout the Greater Houston area. Memorial Hermann-Texas Medical Center is one of the nation's busiest Level I trauma centers and serves as the primary teaching hospital for McGovern Medical School at UTHealth. For more than 115 years, our focus has been the best interest of our community, contributing nearly $500 million annually through school-based health centers and other community benefit programs. Now and for generations to come, the health of our community will be at the center of what we do – charting a better future for all.
Memorial Hermann Health System owns and operates 14 hospitals and has joint ventures with three other hospital facilities, including Memorial Hermann Surgical Hospital First Colony, Memorial Hermann Surgical Hospital Kingwood, and Memorial Hermann Rehabilitation Hospital-Katy.
About Capital Rx
Capital Rx is a healthcare technology company changing the way prescription drugs are priced and patients are cared for in America. As a Certified B Corp™, Capital Rx is executing its mission through an efficient Single-Ledger Model™ that increases visibility and reduces variability in drug prices. The company's cloud-native enterprise pharmacy platform, JUDI®, connects every aspect of the pharmacy ecosystem, servicing over 2.4 million members for Medicare, Medicaid, and commercial plans.
prnewswire | July 04, 2023
Adare Pharma Solutions, a global technology-driven CDMO focused on oral dosage forms, today announced the completion of its divestiture of its Adare Biome business unit, a pioneer in the development and manufacturing of postbiotics, to dsm-firmenich, innovators in nutrition, health, and beauty. The transaction represents an enterprise value of €275 million, an estimated 2023 EV/EBITDA multiple of 18x.
Tom Sellig, CEO of Adare Pharma Solutions, commented: "dsm-firmenich is the ideal company to take Adare Biome to the next level and realize the growth potential of postbiotics. They have the infrastructure, together with strong commercialization and science capabilities, to scale the significant scientific research that we've achieved over the years. This divestiture will provide Adare Pharma Solutions with additional resources for our core CDMO business and allow us to further grow our position as a world-class outsourcing partner to the pharmaceutical industry."
dsm-firmenich intends to extend the availability of Lactéol®, Adare Biome's over-the-counter postbiotic supplement for relieving gut upsets, through its B2C unit, i-Health. Further development of postbiotic B2B ingredients will include opportunities in dietary supplements, early-life nutrition, medical nutrition, and nutritional improvement for the under-nourished. The acquisition of Adare Biome will also position dsm-firmenich as a leader in the growing microbiome management market for pets, and expand its animal health range, where the stability of postbiotics means they can be incorporated into premix feed solutions.
Philip Eykerman, dsm-firmenich's President Health, Nutrition & Care, said: "Adare Biome, as a global leader in the research and manufacturing of postbiotics with over a century of pioneering science in its heritage, is a perfect fit for dsm-firmenich that will complement three of our four Business Units. The Adare Biome teams bring great knowledge in this area which will greatly help in driving our 'Health from the Gut' strategy and enable us to accelerate the creation of next-generation biotics to support the health of people and animals. We are excited to welcome the Adare Biome people to the dsm-firmenich family and about the new opportunities this move will unlock. dsm-firmenich's strong global presence and reach in local markets will enable us to deliver Adare Biome products to customers in a faster, more efficient way to bring the proven benefits of postbiotics to a wider range of people around the world."
About Adare Pharma Solutions
Adare Pharma Solutions is a global, technology-driven CDMO providing product development through commercial manufacturing expertise, with a focus on oral dosage forms for the pharmaceutical industry. Adare's specialized technology platforms provide taste masking, controlled release, solubility enhancement, and patient-centric dosing solutions. With a proven history in drug delivery, Adare has developed and manufactured more than 65 products sold by customers in more than 100 countries globally. More information can be found at www.adarepharmasolutions.com.
As innovators in nutrition, health, and beauty, dsm-firmenich reinvents, manufactures, and combines vital nutrients, flavors, and fragrances for the world's growing population to thrive. With our comprehensive range of solutions, with natural and renewable ingredients and renowned science and technology capabilities, we work to create what is essential for life, desirable for consumers, and more sustainable for the planet. dsm-firmenich is a Swiss-Dutch company, listed on the Euronext Amsterdam, with operations in almost 60 countries and revenues of more than €12 billion. With a diverse, worldwide team of nearly 30,000 employees, we bring progress to life™ every day, everywhere, for billions of people.
Businesswire | August 16, 2023
Advanced Infusion Care (AIC), a division of AIS Healthcare, today announced the opening of a new pharmacy location in Cockeysville, Maryland. This continued expansion to the Northeast provides a platform for the company to serve more patients and physicians in the region. The Maryland pharmacy is AIC’s sixth location from which the company dispenses essential medications and personalized care to patients across the United States with complex medical conditions like immune deficiency diseases.
The newly opened pharmacy is strategically positioned and designed to cater to the unique needs of patients and providers in the Mid-Atlantic. With a firm commitment to elevating the patient experience, AIC aims to make medications and home infusion services more accessible to those in need of care solutions.
"We are thrilled to open a pharmacy location in Maryland. This expansion is a testament to AIC’s unwavering dedication to our patients and our vision of providing best-in-class healthcare services with a personal touch. By opening this location, we aim to streamline the medication fulfillment process, enhance convenience, and ultimately improve the lives of our patients,” said Jud Hall, President at AIC.
With a focus on efficiency and compassion, AIC is committed to addressing the unique medication needs of each patient and fostering strong relationships with healthcare providers in the area. The fully operational pharmacy in Maryland has started dispensing its extensive inventory of prescription medications, over-the-counter products, and specialty medications to patients. The location utilizes cutting-edge technology and a team of highly skilled pharmacists and healthcare professionals to serve patients. The facility also features a state-of-the-art USP797-compliant cleanroom, which is critical to ensuring sterility and quality in the medications.
In recent months, AIC announced further expansion into the New England market and the grand reopening of a newly designed pharmacy in Valdosta, Georgia. AIC also made medications like GAMMAKED™ and LEQEMBI™ available to patients through its locations in Valdosta, Georgia; Birmingham, Alabama; Clinton, Mississippi; Panama City, Florida; and Dallas, Texas.
About AIS Healthcare
As the leading provider of targeted drug delivery and infusion care solutions, AIS Healthcare is committed to doing more of what matters. From pharmacies that put patient safety first to comprehensive services that enhance the entire care experience, we go beyond the expected in everything we do.