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November, 29
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    GoodRX Pays $150M for Well being Platform vitaCare

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    Digital healthcare platform GoodRx is ready to accumulate vitaCare Prescription Companies from TherapeuticsMD for $150 million, the corporate introduced Monday (March 7).

    The vitaCare platform helps sufferers perceive their well being protection, establish methods to save lots of and facilitates communication between payors and suppliers, whereas additionally offering a path to get prescriptions stuffed by means of its community of third-party pharmacies.

    Along with the acquisition worth, GoodRx stated it’s going to pay an extra $7 million contingent upon vitaCare’s monetary efficiency by means of subsequent 12 months.

    GoodRX pointed to information exhibiting that solely 50% of the five hundred million model prescriptions written annually are literally stuffed, actually because folks merely can’t afford them. The corporate stated the vitaCare acquisition will give it extra methods to facilitate prescriptions and ensure sufferers can entry and afford the drugs they want.

    “We couldn’t be extra excited to hitch GoodRx and be a part of a staff that’s working to place reasonably priced healthcare inside attain for everybody,” stated John Milligan, ​​CEO at vitaCare Prescription Companies.

    “Shoppers come to vitaCare searching for a seamless, patient-first expertise that can assist them get the model drugs they’re prescribed. Upon becoming a member of the GoodRx staff, we hope to broaden our community of pharmaceutical producers and put much more therapies inside attain for customers,” Milligan stated.

    Learn extra: New Approaches to Reductions, Charges, Digital Expertise Reshaping Pharmacy Sector

    The deal comes at a time when — as PYMNTS reported final week — the prescription enterprise is struggling amid adjustments in pricing, product and the shifting panorama of retail pharmacies, prescription supply providers and different gamers.

    These tendencies have been evident lately in GoodRx’s fourth-quarter 2021 earnings, the place wholesome beneficial properties in month-to-month energetic customers have been offset by elevated costs and ongoing impacts from the COVID-19 pandemic.

    “The consequences of COVID have remained longer than we anticipated, inflicting its affect to be better than we anticipated,” GoodRx’s Co-founder and Co-CEO Trevor Bezdek stated final week. “There’s been volatility in complete prescriptions, new prescriptions, physician visits and even lengthy traces for customers to fill scripts attributable to vaccine administration, all had some affect on our enterprise.”

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    NEW PYMNTS DATA: ACCOUNT OPENING AND LOAN SERVICING IN THE DIGITAL ENVIRONMENT

    About: Forty-two p.c of U.S. customers usually tend to open accounts with FIs that make it straightforward to auto-share their banking particulars throughout sign-up. The PYMNTS examine Account Opening And Mortgage Servicing In The Digital Atmospheresurveyed 2,300 customers to look at how FIs can leverage open banking to have interaction clients and create a greater account opening expertise.

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