Health tech company OptimizeRx is handing over $95 million to buy out omnichannel marketing and analytics firm Medicx Health as it looks to broaden its scope.
OptimizeRx, a company that facilitates engagement between biopharmaceutical companies, healthcare professionals and patients, has acquired Medicx and its technology solutions with the intention of integrating them into its existing platform.
This includes the addition of the Medicx patient and HCP-focused Micro-Neighborhood Targeting Platform, which in essence looks to ensure that ads reach and engage a diverse set of patients.This will be wedded to OptimizeRx’s own HCP-focused Dynamic Audience Activation Platform (DAAP), creating what it calls a “single source of innovative technologies that will enhance the reach and efficacy of healthcare marketing for life sciences organizations,” the company said in a press release.
DAAP uses artificial intelligence and a patent-pending machine learning methodology “not found anywhere else,” according to the company, helping biopharma-focused agencies that are looking to increase physician and patient engagement.
“Our acquisition of Medicx is expected to be a major business accelerator for us as it encompasses all three of our growth drivers: expanding our audience, introducing new solutions, significantly opening client penetration and growth opportunities,” said Will Febbo, CEO of OptimizeRx, in the release.
“I'm extremely proud of the leading patient-focused omnichannel platform the Medicx team has built, and believe our robust IP, data, and analytics capabilities will unlock significant customer value when coupled with OptimizeRx's DAAP technologies and its industry-leading HCP reach,” added Michael Weintraub, Medicx’s founder and chief.
“Integrating with a leading HCP-focused enterprise provides numerous efficiencies, but more importantly positions the combined companies to fulfill a greater vision of building an end-to-end communication platform that can inform and educate both patients and HCPs through a highly targeted and data rich methodology that has never before been brought together in a cohesive way.”