MORRISVILLE – Morrisville-based TrialCard, Inc. is strengthening its presence in the pharmaceutical industry with its recent acquisition of Raleigh-based RxSolutions, which specializes in customized pharmaceutical reimbursement programs for both commercial and clinical supply professionals.

TrialCard

Executives at TrialCard say the acquisition will complement and diversify its services.

“This acquisition advances TrialCard’s vision to diversify and enhance our service offerings to our customers,” said Mark Bouck, president and CEO of TrialCard, in a statement. “We are very impressed with the business that RxSolutions has built and the culture they have maintained.  RxSolutions is a great fit for TrialCard due to its affordability programs, longstanding presence in this spaceand commitment to the patient.”

The acquisition will also help the company expand its customer base.

“It is a space we have not been active in before,” said Michael Carlin, TrialCard’s vice president of marketing. “We are better together for serving more customers and serving a wider customer base.”

While TrialCard works directly with pharmaceutical companies, its focus is on helping patients.

“At the end of the day, we help patients get on their medications and stay on their medications,” said Carlin.

TrialCard works directly with pharmaceutical companies and patients. The company’s customer service representatives verify patients’ insurance, education them on prescriptions and assist them with affordability options.

Michael Carlin

“If patients have a large co-pay, we work with manufacturers to give them co-pay affordability options,” said Carlin.

TrailCard’s acquisition of RxSolutions takes the companies services one step further. While the two companies started out offering similar services in the co-pay affordability space, RxSolutions took a different path.

“RxSolutions has gotten into clinical studies and a focus on co-pay and affordability during the clinical study,” said Carlin.

The acquisition also helps TrialCard meet another goal.

“We’ve been looking around for the right fit over the last few years,” said Carlin “We asked ourselves, ‘What is the best way to diversify our portfolio of services?’”

Acquisition part of continued growth

TrialCard’s acquisition of RxSolutions caps a year of tremendous growth for the company.

During 2018, the company hired 850 new employees, bringing its total number to 1,500. While Carlin declined to discuss specifics on future employment expansion, he noted that the company will see continued growth.

“We expect continued growth 2019,” he said. “It would be very difficult to say how much, but we do expect to grow again in 2019.”

What has driven the company’s growth?

“The factors driving growth have been the strategy and diversification of services,” said Carlin.

2018 highlights

Mark Bouck

TrialCard helped over three million patients save nearly $1.3 billion in drug costs, according to a recap of its 2018 performance. from CEO Mark Bouck.

Highlights as posted by the company:

  • Experienced over a 40% YOY growth in total revenue
  • Increased patient support hub services revenue by over 300%Successfully transitioned one of the largest reimbursement hubs in the industry
  • On boarded and trained over 840 new team members into the TrialCard culture, while maintaining a 90% retention rate
  • Increased its number of manufacturers by 27% and brands serviced by 21%
  • Achieved the coveted ISO27001 certification, the gold standard in data security
  • Opened patient reimbursement support centers in Morrisville, NC and Kansas City, MO
  • Introduced TC Script, a non-commercial dispensing pharmacy, in Scottsdale, AZ
  • Introduced TC Synapse™, a full suite of risk mitigation and compliance solutionsIncludes co-pay accumulator program mitigation and pharmacy fraud detection
  • Increased service levels by expanding its technology and innovation team to more than 110 members
  • Increased functionality of its proprietary QuickPath patient engagement platform
  • Contributed to and supported more than 27 different local, state, and national charities