Change Healthcare (Nasdaq: CHNG) on Tuesday, June 2, announced the acquisition of Fort Worth-based PDX, a leader in providing patient centric and innovative technologies for pharmacies and health systems. According to the company’s filing, Nashville-based Change paid $208 million for PDX.
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.
Established in 1985, PDX Inc. has focused on providing pharmacy software technology. The technology addressed the requirements of high volume prescription filling and the demands of third party processing. Along with its counterpart, the PDX Host System, the PDX Pharmacy System ensured that the third party requirements of chain clients were in place alongside the essential clinical tasks, according to the company’s website.
Sixty pharmacy chains—including drug stores, supermarkets, and mass merchants—and more than 350 independent pharmacies in the United States, representing 10,000 individual pharmacies have gone on to use PDX software to fill, bill, and track prescriptions.
The PDX 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, according to a news release form Change. 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, according to the news release.
“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 ARrevenue 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 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.