Truveris, a well being expertise firm targeted on reducing prescription prices for employers and their members, introduced it secured $15 million in Sequence E funding.
Present traders Canaan Companions and New Leaf Enterprise Companions led the spherical.
WHAT IT DOES
The corporate offers expertise to assist employers safe decrease drug pricing plans. Its software program additionally permits sponsors to garner data-driven insights to cut back prescription prices, enhance pharmacy profit supervisor contract phrases and enhance treatment entry.
The funds will probably be used to assist the corporate’s operational development.
“There has by no means been extra consideration positioned on PBM practices and the impression on pharmacy prices as there may be proper now. For years, Truveris has been on the forefront of growing expertise to deal with probably the most urgent challenges in PBM administration and value containment. We’re happy to extend our funding in Truveris and lengthen our partnership to assist the following chapter within the Firm’s evolution,” Vijay Lathi, managing director at New Leaf Enterprise Companions, mentioned in a press release.
MARKET SNAPSHOT
The prescription advantages firm garnered $25 million in Sequence D funding in 2017.
Earlier this yr, the corporate introduced it was selling Garrett Fienberg to chief working officer, Gregg DiPietro as chief industrial officer, and Louise Shea as chief pharmacy officer.
Fienberg beforehand served as head of development operations, DiPietro held the place of chief advertising officer, and Shea’s final place within the firm was senior vice chairman of product technique.
Different firms targeted on reducing prescription prices embody drug value and telehealth platform GoodRx, Waltz Well being, Mark Cuban Price Plus Drug Firm, Amazon and Transcarent, a healthcare platform for self-insured employers.
