GoodRx, a leading consumer-focused digital healthcare platform, announced the completion of its previously announced acquisition of vitaCare Prescription Services from TherapeuticsMD for $150 million in cash, with an additional $7 million of consideration contingent payment upon vitaCare’s financial performance through 2023.
VitaCare Prescription Services is a technology and services platform that helps patients navigate key access and adherence barriers for brand medications. Specifically, vitaCare helps patients understand coverage and identify available savings opportunities, and facilitates communications between providers and payors. The platform also offers a seamless path for filling a prescription, primarily through its network of third-party pharmacies.
GoodRx Inc., backed by Silver Lake Management, LLC, is an online platform that allows users to compare prescription prices and information across retailers to find the most affordable option. Since 2011, GoodRx has helped consumers save over $35 billion and is one of the most downloaded medical apps over the past decade.
The acquisition will enable GoodRx to help more patients receive their prescriptions in an efficient, affordable and transparent manner, and stay on their prescribed therapies as long as appropriate. In addition, the acquisition is expected to further strengthen GoodRx’s rapidly growing Pharma Manufacturer Solutions offerings, which span medication awareness, access and adherence with unique capabilities.
GoodRx plans to provide an update on the impact of vitaCare to its 2022 financial guidance during its first quarter 2022 earnings conference call scheduled for Monday, May 9, 2022.
According to the LevinPro HC database, the deal is just one of 122 publicly announced eHealth deals of 2022 so far, and marks the 21st transaction within the patient engagement subsector. The vitaCare acquisition also claims the highest disclosed price YTD within its subsector, with the second highest being the acquisition of patient experience company HFocus by Track.co, a Brazilian customer experience management platform founded in 2012, for $28.5 million.
