Irving-based McKesson Corp. is acquiring a prescription price transparency firm in a deal valued at up to $875 million.
The deal for RxSavings Solutions gives McKesson a company that works with health plans and employers reaching more than 17 million people.
McKesson will pay $600 million upfront and up to $275 million additionally based on how RxSS performs financially through 2025. The transaction is expected to close next year, pending regulatory approval.
“Rx Savings Solutions’ offerings for employers and patients will strengthen McKesson’s ability to help solve the most common medication challenges related to access, affordability and adherence,” said McKesson CEO Brian Tyler in a statement.
RxSS, based in Overland Park, Kansas, contracts with health plans and large self-funded employers for benefit programs that lead to prescription cost savings. The company uses a machine-learning algorithm to help members understand therapy options and identify prescription alternatives under their insurance. It provides services as prescription change assistance and medication reminders.
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