Truveris, a well being expertise firm targeted on lowering prescription prices for employers and their members, introduced it secured $15 million in Collection E funding.
Current buyers Canaan Companions and New Leaf Enterprise Companions led the spherical.
WHAT IT DOES
The corporate gives expertise to assist employers safe decrease drug pricing plans. Its software program additionally permits sponsors to garner data-driven insights to scale back prescription prices, enhance pharmacy profit supervisor contract phrases and improve medicine entry.
The funds shall be used to assist the corporate’s operational progress.
“There has by no means been extra consideration positioned on PBM practices and the influence on pharmacy prices as there’s proper now. For years, Truveris has been on the forefront of growing expertise to handle essentially the most urgent challenges in PBM administration and price containment. We’re happy to extend our funding in Truveris and prolong our partnership to assist the subsequent chapter within the Firm’s evolution,” Vijay Lathi, managing director at New Leaf Enterprise Companions, mentioned in an announcement.
MARKET SNAPSHOT
The prescription advantages firm garnered $25 million in Collection D funding in 2017.
Earlier this yr, the corporate introduced it was selling Garrett Fienberg to chief working officer, Gregg DiPietro as chief industrial officer, and Louise Shea as chief pharmacy officer.
Fienberg beforehand served as head of progress operations, DiPietro held the place of chief advertising and marketing officer, and Shea’s final place within the firm was senior vice chairman of product technique.
Different firms targeted on lowering prescription prices embrace drug value and telehealth platform GoodRx, Waltz Health, Mark Cuban Cost Plus Drug Company, Amazon and Transcarent, a healthcare platform for self-insured employers.
