MHA Acquires Pharmacy Reimbursement Management Company
January 5, 2010 (Florham Park, NJ): Managed Health Care Associates, Inc. (MHA), the largest Alternate Site Group Purchasing Organization (GPO) in the country, is pleased to announce the acquisition of Net-Rx. Net-Rx is a leading provider of pharmacy reimbursement management services and offers a full suite of technology products to help pharmacies lower costs and increase profitability. Net-Rx's cornerstone product, "RecRx" assists pharmacies in managing their reimbursement and reconciliation processes to ensure each and every pharmacy is receiving the accurate contracted reimbursement.
Net-Rx is not affiliated with NetRx, an Ohio based Long Term Care Pharmacy network with whom MHA currently has a strategic partnership.
Douglas Present, MHA's CEO stated, “The acquisition of Net-Rx is another example of our expansion and development into a full health care services company, focused on the needs of alternate site health care providers. A number of our existing members currently work with Net-Rx and have made it clear that better managing their reimbursement will be critical to their long term success. We are looking forward to working with the team from Net-Rx and continuing to offer the best products and services to our combined customer base."
Lou Livolsi, Senior Vice President of Long Term Care for MHA added, “This acquisition further expands MHA’s leadership position in the provision of reimbursement management services for not only LTC pharmacies, but also retail and alternate site pharmacies. The management team of Chad Hammerstrom and Jeff Malone have created a unique business model that can now be scaled across the entire MHA membership. They have also developed a true client service culture that is consistent with MHA's philosophy. We are glad to have Chad, Jeff and the rest of their employees joining the MHA team."
Chad Hammerstrom, Net-Rx CEO commented, "MHA has been a strong business partner over the past few years. We felt that their strategic approach to the market, strong customer service focus, and entrepreneurial spirit made MHA a great fit for our company and our employees. The resources MHA can bring to the table will help us further expand our reach and allow us to continue our goal of delivering superior technology products that help our customers compete in the marketplace."
About Net-RxNet-Rx provides operational and technical services exclusively for pharmacies by helping these organizations lower operational costs, increase profitability and provide industry specific solutions. Net-Rx’s understanding of the complexities of operational and resource constraints is essential to making them an industry leader. Net-Rx’s portfolio of products includes drug pricing services, claims reconciliation, transaction services, and pharmacy operations. For more information, visit www.net-rx.com.
About MHAManaged Health Care Associates, Inc. (MHA) is the largest Alternate Site GPO in the country servicing the Long Term Care, Home Infusion/Specialty and Combo Pharmacy markets. MHA continues to lead the way in defining what an Alternate Site GPO can do for its members with a highly diversified healthcare services portfolio that also includes the leading Long Term Care Pharmacy Network; RxPertise, the leading clinical consultant pharmacy software servicing the long-term care industry; and Pharmaceutical Data Services. MHA's success is driven by unparalleled member support, competitive contracts, and the ability to create sophisticated, customized, web tools and reports, designed to increase savings and promote profitability. Members utilize MHA services to assist in the purchasing of a complete line of pharmaceuticals, medical supplies, capital equipment, and nutritional food, as well as network access to the majority of the largest national and regional prescription drug plans managing the Medicare Part D drug benefit. For more information, visit www.mhainc.com.
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