OptimizeRx Corp. agreed to acquire privately held RMDY Health for $16 million in cash and equity.
RMDY Health is a multipurpose digital therapeutics software-as-a-service platform. Its main focus is care management, chronic disease management, pharma patient support programs, research and wellness.
The deal adds three new client segments to OptimizeRx's existing patient engagement platform: payers, medtech and medical associations.
OptimizeRx said the acquisition of RMDY Health expands the reach of its network of leading electronic health record and ePrescribing providers by using patient apps and web access as an additional channel for digital health messaging.
In 2018, OptimizeRx acquired CareSpeak, a provider of messaging services to remind patients about their medications, to expand the patient reach for its digital health messaging platform.
The RMDY Health acquisition is expected to close within the next 30 days, following which, its shareholders will receive $8 million in cash and $8 million in equity.
RMDY Health will maintain its technology team in Tel Aviv, Israel, and U.S.-based personnel and will use OptimizeRx's New Jersey headquarters.
OptimizeRx is being advised by Excel Partners on the transaction, while RMDY Health is being advised by Reade Street Advisors on the deal.
