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For Immediate Release
SCOTTSDALE, Ariz.--(BUSINESS WIRE)-- Magellan Health, Inc. (NASDAQ:MGLN) today announced that it has entered into an agreement to acquire Veridicus Holdings, LLC, a privately held pharmacy benefit management (PBM) organization with a unique set of clinical services and capabilities. Veridicus' differentiated approach to pharmacy management leverages proprietary analytics and clinical software that integrates pharmacy, medical and lab data to drive targeted interventions resulting in better health outcomes and lower costs for complex patient populations. In addition, Veridicus owns and operates a fully licensed insurance company which is contracted with the Centers for Medicare and Medicaid Services (CMS) and serves members enrolled in the Medicare Part D Employer Group Waiver Plan (EGWP) program. Read more...
For Immediate Release
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Salt Lake City, (Dec. 17, 2014) – Veridicus Health, a provider of comprehensive and customizable pharmacy and care management solutions, announces the acquisition of St. Louis, Missouri based Global Pharmaceutical Solutions (GPS). Dr. Douglas Burgoyne, PharmD, CEO of Veridicus Health, made the announcement to employees during the company’s annual holiday celebration on December 13 in Salt Lake City.
Veridicus Health has been recognized by Inc. Magazine as one of America’s 500 fastest growing companies for the last 3 years. The acquisition of GPS adds to Veridicus Health’s growing Medicare Part D service platform. “This acquisition is another step in our pursuit to expand our internal capabilities and offer comprehensive solutions for our clients,” says Dr. Burgoyne. “We look forward to further expansion into the Midwest with the help of our colleagues in St. Louis.”
Veridicus Health plans to continue operating GPS in the St. Louis area. GPS will work closely with Granite Alliance Insurance Company (GAIC), a Veridicus Health company, in providing a robust Employer/Union Group Waiver Plan (EGWP) for Medicare Part D members. “We are extremely pleased with the knowledge and proficiency that the GPS team adds to our EGWP product. We are excited to enhance our current operations with the addition of GPS as we augment the growing reputation of Granite Alliance in the Medicare Part D marketplace” says Joyce Canning, Vice President of Medicare Operations.
The combined expertise of both companies will provide customers tightly integrated solutions and improved capabilities for their EGWP plan members.
About Veridicus Health (www.veridicushealth.com):
Veridicus means speaking truth. Veridicus Health was founded in 2009 to bring clarity and full-transparency to healthcare services for self-funded employers and regional health plans. This focus, which reduces the overall cost of healthcare while increasing the effectiveness of the client’s employees and families, has been Veridicus’ mission from the beginning. Its unique pass-through model of Pharmacy Benefit Management (PBM) and patient-focused outreach performed by nurse care managers, sets Veridicus apart from the usual approach to healthcare. The results of lower cost and improved care speak for themselves. Veridicus Health’s family of companies includes VRx Pharmacy Services (PBM), VRx Pharmacy, Veridicus Care Management and Granite Alliance Insurance Company.
About GPS (www.gps-admin.com):
GPS is a privately held company headquartered in St. Louis, Missouri, providing comprehensive Medicare Part D enrollment services and solutions. The staff possesses in-depth knowledge of the regulations and sub-regulatory guidance established by the Centers for Medicare and Medicaid Services (CMS). The team’s Medicare Part D EGWP expertise has allowed development of a suite of administrative and enrollment tools that provide clients with an end-to-end solution, ensuring full compliance with Medicare requirements.