Xerox Continues Acquisition of Healthcare-Related Companies with inVentiv Patient Access Acquisition
Xerox is continuing its acquisition of companies in the healthcare sector that help provide better outcomes for patients and providers with its recent acquisition of inVentiv Patient Access Solutions (iPAS), an inVentiv Health company, for an undisclosed sum. The firm says the acquisition will expand its pharmacy-solutions portfolio with an offering to help pharmaceutical companies better drive product adoption and support patients in minimizing or eliminating financial and reimbursement issues.
iPAS serves as a patient-access and reimbursement services hub for more than 17 major pharmaceutical companies. It also helps its clients expand sales by identifying uninsured and under-insured patients, and works with them to eliminate financial obstacles to obtaining medications prescribed by physicians. iPAS’ patient advocates investigate and verify benefits on behalf of a patient, and in cases with limited options, arrange for alternative means for the patient to receive the medication.
iPAS will operate under TMS Health, a Xerox company, one of the largest providers of customer care, medical information and inside sales support services to the pharmaceutical, biotech, and life-sciences industries. Through an ongoing relationship with Xerox, inVentiv will continue providing the iPAS reimbursement offering to clients as part of its Contract Commercial Organization (CCO). The iPAS management team and its employees will join Xerox and report to Roden.
“The U.S. spends over $2.9 trillion annually on healthcare – or 17.5 percent of our gross domestic product,” commented Steve Roden, industry leader at Xerox’s Pharmaceuticals and Life Sciences group. “The entire healthcare ecosystem – from pharmaceutical companies to providers and payers – has a responsibility to make healthcare more affordable. With this acquisition, Xerox will expand affordable access to medications, which has the potential to significantly improve health outcomes in the U.S.”
- August 2015: Xerox to Acquire RSA Medical to Bolster its Healthcare-Provider Portfolio
- May 2015: Xerox Enhances Healthcare Business with Acquisition of Healthy Communities Institute
- April 2015: Xerox Wins $564.9 Million Medicaid Contract with State of New York
- November 2014: Xerox Purchases Part of Intrepid Learning Solutions to Enhance its Own Learning-Solutions Portfolio
- November 2014: New Solutions from Xerox Support Paper-Less Document Processes; Also Now Offering Hyland OnBase and Datawatch Solutions
- June 2014: Xerox Gets Approval to Acquire ISG Health-Payments Businesses for $225 Million
- June 2014: Xerox Beats HP for $500 Million N.Y. Medicaid Deal