UPMC invests in predictive analytics, population health company RxAnte
UPMC Enterprises has purchased all of Millennium Health’s interest in Portland, Maine-based RxAnte.
UPMC Enterprises, the commercialization arm of UPMC, said the investment will go toward product development with in-house clinical expertise and accelerating growth.
Founded in 2011, RxAnte manages medication use for nearly 7 million people on behalf of health insurers, providers and other stakeholders working to improve safe and effective prescription drug use. It will continue to operate as an independent company, led by its existing management team.
"This is a major milestone for RxAnte that will expand the breadth and depth of the analytics and population health management solutions we provide," RxAnte CEO Josh Benner said in a statement.
The UPMC Health Plan has been a customer of RxAnte for the past three years and, according to the plan’s Chief Medical Officer William Shrank, MD, RxAnte's technology and services have been a key driver of its performance.
With the new investment, RxAnte's plans to expand its offerings for Medicare, Medicaid and commercial populations, with a focus on analytics and clinical programs that lower total cost of care. The company also intends to extend its predictive models and workflow tools to the management of high-cost specialty drugs.
UPMC did not disclose financial terms of the transaction.
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