MedVantx Hits Milestone of Providing $600 Million in Specialty Pharmacy Prescription Medications
MedVantx, Inc., the company that pioneered a unique direct to consumer pharmaceutical distribution channel in US physician offices announced today the Company's specialty home delivery pharmacy achieved the milestone of dispensing prescriptions valued at over $600M on an annualized basis. The Company provides leading pharmaceutical manufacturers, physicians, health systems and payors novel distribution services, as well as fully transparent home delivery services to consumers nationwide via its state of the art pharmaceutical distribution facility located in Sioux Falls, SD.
"MedVantx is extremely excited to have achieved this significant company milestone," stated Ron Bertsch, RPh, General Manager of MedVantx Pharmacy Services. "MedVantx has developed over 15 unique and customized prescription assistance and consumer access programs with 10 Fortune 100 companies. These programs are designed to enable pharmaceutical manufacturers the ability to provide access to free medications to the indigent, uninsured and underinsured consumers. Many of the products dispensed in the Company's programs are Specialty Pharmacy products consisting of high cost injectable, cold chain, or biotech medications and tend to serve patient populations that require significant care coordination. This milestone reflects our ability to provide our customers and patients with a broad range of unique services in the market place," added Mr. Bertsch.
"The pharmaceutical industry is undergoing a structural shift from traditional brand name drugs to generic pharmaceuticals, but also to more specialty drugs—we address both these markets," stated Robert Feeney, Founder and Chief Executive Officer of MedVantx. "The Prescription Assistance, Specialty Pharmacy and Cold Chain industry is growing rapidly with industry revenues which are expected to exceed $160 billion globally in 2013. This rapid growth is coming at a time of significant supply chain consolidation and customers are seeking new channels. MedVantx has carved-out a very specialized niche in the marketplace based on full financial transparency, mass customization techniques and the ability to provide novel solutions, for industry partners as well as consumers," added Mr. Feeney.
About MedVantx, Inc.
MedVantx is an innovative consumer medication management and delivery company committed to streamlining access, reducing costs and providing helpful information to benefit patients, physicians, health plans, employers and manufacturers. The MedStart™ Connect program provides for a fully-automated, integrated, point-of-care to consumer home delivery channel focused on increasing the quality and cost effectiveness of the last non-managed pharmaceutical channel – the physician office sample closet. MedStart Connect includes free initial therapy samples of prescription and over-the-counter medication at the point of care, a consumer helpline providing drug information, adherence management services, and convenient consumer home delivery through its mail order pharmacy. MedVantx Pharmacy Services, a wholly owned subsidiary of MedVantx, Inc., operates a state of the art pharmaceutical distribution facility located in Sioux Falls, SD.
Source: MedVantx Inc.