September 19, 2022 — McKesson Corporation has signed a definitive agreement to acquire Rx Savings Solutions (RxSS), a prescription price transparency and benefit insight company that offers affordability and adherence solutions to health plans and employers, reaching more than 17 million current patients.
The transaction is valued up to $875 million, which includes a $600 million upfront payment and a maximum of $275 million of consideration contingent upon RxSS’ financial performance through calendar year 2025.
RxSS contracts directly with health plans and large self-funded employers to maximize the effectiveness of benefit design to drive prescription cost savings for members. The company uses an evidence-based, proprietary machine-learning algorithm to help members understand available options for therapy and identify cost-effective prescription alternatives under their insurance. If a prescription change would benefit the member, RxSS provides assistance to update the prescription. The company also provides ongoing medication reminders to help improve adherence.
Following the close of the transaction, RxSS will become part of the company’s Prescription Technology Solutions business, which works across the healthcare delivery system to offer next-generation patient access, affordability and adherence solutions. The combined organization will endeavor to bring new capabilities for employers and patients to McKesson’s broad portfolio of pharmacy, provider, payer, and biopharma services.
After initial integration, McKesson expects to use the combined medication access, affordability, and adherence services as a foundation to build new outcomes management programs for biopharma and payers, differentiated by their reach and efficacy at three touchpoints: provider office, pharmacy counter, and direct patient tools.
The transaction is expected to close in the second half of Fiscal 2023.