PE Tech Report

NEWSLETTER

Like this article?

Sign up to our free newsletter

Blue Ox Healthcare Partners takes 30 per cent stake in RX Solutions

Blue Ox Healthcare Partners, a private equity firm investing growth capital in the healthcare industry, has taken a 30 per cent stake in RX Solutions which aims to allow consumers to gain access to fixed and/or reduced cost prescription drugs.

RX Solutions serves consumers in the US who have an income in the 200-400 per cent range of the Federal Poverty Level.
 
RX Solutions serves consumers by identifying Prescription Assistance Programs (PAPs) specific to their medication needs and then follows them throughout the process to secure the subsidies and medications. RX Solutions facilitates the enrolment for these programs and acts as a liaison between the consumer and pharmaceutical companies. In addition to serving individuals, the enterprise provides employers, healthcare providers, brokers, and agents the ability to help patients to afford their medication treatments.
 
Blue Ox structured the deal to create RX Solutions to assume the main business operations of The Rx Helper, LLC. RX Helper was founded in 2012 by Bobby Hallock and Andrew Strange. RX Solutions will be the consumer origination, enrolment and marketing business for the overall enterprise. As part of the deal, Blue Ox will provide strategic guidance and resources from within its investment portfolio to generate cross-pollination of customers. The founders of The Rx Helper are pursuing this transformative transaction of additional capital and resources to facilitate an effective strategic growth plan that otherwise would be difficult.
 
Andrew Strange, CEO of RX Solutions, says: “Our total number of active customers at the end of 2017 was just under 6,000, an 80 per cent increase over 2016 and we believe we are positioned for even more significant growth. In partnering with Blue Ox to create RX Solutions, we focused our core business lines and gained the investment required to further grow the business with an extremely attractive future ahead.”
 
“This business plays an extremely important social role,” says Oded Levy, Managing Partner of Blue Ox. “It allows poor and low-income patients to access needed medications that they otherwise would not have. It is exactly the kind of business we love to build and we are proud to partner with such an innovative team for an important cause.”

Like this article? Sign up to our free newsletter

MOST POPULAR

FURTHER READING

Featured