TrialCard, a Cary firm that provides a variety of payment, prescription and other healthcare-related access services, has landed an investment from private equity firm Excellere Partners.
The amount of the funding was not disclosed.
TrialCard processes more than $1 billion in patient benefits annually.
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Excellere has some $737 million in capital under management.
“Medication adherence represents a significant challenge to the healthcare system with non-adherence estimated to drive approximately $290 billion in avoidable healthcare spending annually. We were in search of partnership opportunities with solutions providers that address adherence challenges via innovative service offerings and are driven by exceptional management teams – TrialCard fit that criteria perfectly,” explained Rob Martin, the managing partner of Excellere.
“Given the tremendous customer value proposition offered by TrialCard, as well as the benefits its services provide to patients, physicians and pharmacies, we are thrilled to support this team and help fulfill its vision for growth.”
- co-pay card program
- product voucher program
- rapid rebate program
- specialty therapy hub
- business process outsourcing solutions
- point-of-sale pharmacy services, each designed to increase patient engagement and adherence to prescribed medication regimens
The firm’s proprietary technology also is designed to help patients follow prescription guidelines.
Noted Dave Cunningham, founder and chairman of the TrialCard board: “A substantial opportunity exists for TrialCard to create additional value across the healthcare ecosystem by expanding the breadth and depth of our services. The management team and I were in search of a partner that shared our vision for growth and commitment to solving clients’ most complex patient access and medication adherence challenges. We believe that we found such a partner in Excellere, which has a proven track record of supporting management teams in growing healthcare businesses like ours by adding complementary capabilities and delivering additional value to customers.”
TrialCard launched in 2001.