NASHVILLE, Tenn.--(BUSINESS WIRE)--Jun. 1, 2020--
Today, Change Healthcare (Nasdaq: CHNG) announced the acquisition of PDX, a leader in providing patient centric and innovative technologies for pharmacies and health systems.
PDX’s fully integrated retail, specialty, and outpatient pharmacy solutions aim to drive superior operational results for pharmacies while improving outcomes for patients. Their portfolio of solutions includes an Enterprise Pharmacy System™ software, a comprehensive suite of products and services that range from robust data analytics to revenue cycle management, and a flexible clinical services platform.
Today’s transaction complements Change Healthcare’s recent acquisition of eRx Network and demonstrates the company’s continued investment in core aspects of the business to fuel innovation and long-term growth. The combination of Change Healthcare, eRx Network, and PDX will result in faster, more integrated development and cross selling opportunities for Change Healthcare’s combined portfolio of pharmacy network, software, and analytics solutions.
“For over 30 years, PDX has played a critical role in helping pharmacies streamline operations and leverage automation and business intelligence––essential elements in an increasingly competitive retail pharmacy landscape,” said Neil de Crescenzo, president and CEO of Change Healthcare. “Combined with our existing Change Healthcare solutions, we now have a broad portfolio of offerings for pharmacies, an expanded high-quality customer base with significant growth opportunities, and the potential to enter new markets.”
Pharmacies and health systems across the U.S. benefit from technologies and services provided by PDX. Built on a 30-plus year commitment to excellence in healthcare and optimal patient outcomes, PDX has delivered pharmacy and clinical technology solutions that allow pharmacies to process prescriptions, perform reconciliation and adjudication, manage and give authorized caregivers and patients access to healthcare records. This is accomplished through solutions including Absolute AR® revenue cycle management for pharmacies, the PDX pharmacy software management system with applications to assist retail pharmacies with inventory management, clinical programs, and business intelligence, and point of sale solutions.
“After founding PDX with Ron Austring in 1985, PDX has been extremely fortunate to attract a talented group of people to create the Absolute AR®, National Health Information Network® (NHIN), and Freedom Data Systems, Inc.® companies and organizations. Under the leadership of Neil de Crescenzo, the dedicated staff of the PDX companies will continue to serve the pharmacy industry with superior products and services,” said Ken Hill, founder and chairman of the board, PDX Companiesi.
About Change Healthcare
Change Healthcare (Nasdaq: CHNG) is a leading independent healthcare technology company that provides data and analytics-driven solutions to improve clinical, financial and patient engagement outcomes in the U.S. healthcare system. We are a key catalyst of a value-based healthcare system, accelerating the journey toward improved lives and healthier communities. Learn more at changehealthcare.com.
iEnterprise Pharmacy System is a trademark of PDX, Inc. in the United States, and/or other countries. Absolute AR and National Health Information Network are registered trademarks of National Health Information Network, Inc. in the United States, and/or other countries. Freedom Data Systems, Inc. is a registered trademark of Freedom Data Systems, Inc. in the United States and/or other countries.
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Evan Smith, CFA
Source: Change Healthcare Inc.