OptimizeRx Corporation (NYSE: OPRX) is heavily invested in healthcare communications. Its primary business provides digital health messaging via electronic health records (EHRs), offering a direct channel for pharma companies to communicate with healthcare providers.
That makes its recent $9 million acquisition of privately held CareSpeak Communications so logical. CareSpeak, based in Somerset, New Jersey, provides patient engagement, medical therapy adherence, and care coordination solutions to insurers, pharmaceutical companies, pharmacies, and specialty pharmacies.
OptimizeRx’s cloud-based solution supports patient adherence to medications by providing real-time access to financial assistance, prior authorization, education, and critical clinical information. The company’s network is comprised of leading EHR platforms like Allscripts, Amazing Charts and Quest, and provides more than half of the ambulatory patient market with access to these benefits within their workflow at the point-of-care.
With this deal, OptimizeRx is able to expand its EHR-embedded messaging platform so that pharma-providers can communicate directly with patients. Its cloud-based solution supports patient adherence to medications by providing real-time access to financial assistance, prior authorization, education, and critical clinical information.
On a trailing 12-month basis, it reported revenue of $16.3 million and a net loss of $2,104,000. OptimizeRx’s more recent earnings call, the company’s revenue was up 78% to $5.1 million, which it attributed to the growth of its core products and increased distribution.