Feb 29, 2016
Shawnee, KS-based Adaptive Software has been acquired by Decision Resources Group (DRG). Adaptive offers a suite of software solutions that streamlines formulary management, pharmacy networking, pricing, and pharmacy benefit design. Customers collectively manage benefits for over 95 million U.S. lives.
Decision Resources Group is a subsidiary of Piramal Enterprises Ltd. The company offers data, analytics and insights product and services to the healthcare industry. DRG employs more than 900 people across 15 offices in North America, Europe and Asia.
DRG’s acquisition of Adaptive represents a further push for DRG into the Payer market. The addition of Adaptive augments DRG’s role in providing data, insight and software solutions required to answer critical questions relating to drug efficacy, pricing, market access, contracting strategies and benefit design.
Jim Lang, CEO of DRG commented, “Through our combination with Adaptive, we are elated to add another marquee asset to DRG’s portfolio. Marrying Adaptive’s best-in-class software and services with our gold standard formulary and restrictions data solidifies our leading position in the drug value ecosystem, and makes DRG one of very few firms positioned to deliver cutting-edge insight and analytics, in context, directly alongside mission-critical business processes. With the addition of Adaptive, DRG’s premier Fingertip Formulary product will be directly supported by validation from real-time formulary data – directly from Payers and Pharmacy Benefit Mangers. The DRG-Adaptive combination will enable DRG to build unique products to manage critical market access questions and ensure that the Fingertip Formulary dataset remains the source of truth in the formulary data industry.”
Joe Layne, CEO of Adaptive said, “For over 15 years, Adaptive has provided high-value software solutions to Pharmacy Benefit Managers and health plans. It’s a complex industry, but it doesn’t have to be, and Adaptive’s goal has been to simplify the process of managing prescription benefits by leveraging technology. We are passionate about helping our customers grow and we treat their businesses as if they were our own. DRG shares our mission, a customer-first culture, and a deep ambition to support leading companies in their transformation to value-based healthcare. We are excited to join the DRG family and are confident that, together, we can better serve our customers and the needs of the rapidly evolving healthcare industry.
Terms of the acquisition were not disclosed.