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Rx Savings Solutions serves employers and health plans with patented technologies that maximize prescription drug savings and participant participation in benefit programs.
History
2022: McKesson acquires machine learning platform developer Rx Savings Solutions for $875 million
On September 20, 2022, McKesson announced the signing of a final purchase agreement for Rx Savings Solutions, which is developing machine learning technologies to find cheap drug alternatives.
The transaction value is up to $875 million, which includes an advance payment of $600 million and a payment of up to $275 million. The transaction is subject to normal closing conditions, including regulatory review, and is expected to close in the second half of fiscal 2023.
{{quote 'Rx Savings Solutions' proposals for employers and patients will strengthen McKesson's ability to address the most common issues around drug access, cost and quality, "said Brian Tyler, McKesson's chief executive officer. We expect the acquisition of Rx Savings Solutions to accelerate McKesson's growth in biopharmaceutical services by expanding our ecosystem of differentiated patient drug access solutions. }} {{quote 'This combination combines two perfectly complementary organizations with closely related goals and values. By joining McKesson, we will be able to offer an exceptionally wide range of services to our customers and strengthen our leadership in providing prescription drug price transparency, "said Michael Rea, CEO of Rx Savings Solutions. This is an important part of our growth journey and we are excited about what awaits Rx Savings Solutions as part of McKesson. }} Rx Savings Solutions is developing a SaaS-based healthcare platform designed to save employers, employees and medical plans on prescription drugs. The company's platform collects information on drug claims, runs it through a set of patented algorithms, and provides proactive, personalized recommendations to optimize the course of treatment to customers.
Upon completion of the transaction, RxSS will become part of the division of Prescription Technology Solutions.[1]
Notes
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