Xerox Expands Pharma Portfolio with Acquisition of inVentiv Patient Access Solutions
September 01 2015 - 10:30AM
Business Wire
Xerox (NYSE:XRX) and inVentiv Health today announced Xerox’s
acquisition of inVentiv Patient Access Solutions (iPAS), an
inVentiv Health company. The acquisition will expand Xerox’s
pharmacy solutions portfolio with an offering to help
pharmaceutical companies drive product adoption and support
patients in minimizing or eliminating financial and reimbursement
hurdles.
iPAS serves as a patient access and reimbursement services hub
for more than 17 major pharmaceutical companies. iPAS helps its
clients expand sales by identifying uninsured and underinsured
patients, and working with them to eliminate financial obstacles to
obtaining medications prescribed by physicians. iPAS’ patient
advocates investigate and verify benefits on behalf of a patient,
and in cases with limited options, arrange for alternative means
for the patient to receive the medication.
“The U.S. spends over $2.9 trillion annually on healthcare – or
17.5 percent of our gross domestic product,” said Steve Roden,
industry leader, Pharmaceuticals and Life Sciences, at Xerox. “The
entire healthcare ecosystem – from pharmaceutical companies to
providers and payers – has a responsibility to make healthcare more
affordable. With this acquisition, Xerox will expand affordable
access to medications, which has the potential to significantly
improve health outcomes in the U.S.”
iPAS will operate under TMS Health, A Xerox Company, one of the
largest providers of customer care, medical information and inside
sales support services to the pharmaceutical, biotech and life
sciences industries. Through an ongoing relationship with Xerox,
inVentiv will continue providing the iPAS reimbursement offering to
clients as part of its Contract Commercial Organization (CCO). The
iPAS management team and its employees will join Xerox and report
to Roden.
Terms of the agreement were not disclosed.
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About Xerox
Xerox is helping change the way the world works. By applying our
expertise in imaging, business process, analytics, automation and
user-centric insights, we engineer the flow of work to provide
greater productivity, efficiency and personalization. We conduct
business in 180 countries, and our more than 130,000 employees
create meaningful innovations and provide business process
services, printing equipment, software and solutions that make
a real difference for our clients – and their customers. Learn more
at www.xerox.com.
About inVentiv Health
inVentiv Health is a top-tier professional services organization
that accelerates the clinical and commercial success of
biopharmaceutical companies worldwide. Our combined Clinical
Research Organization (CRO) and Contract Commercial Organization
(CCO) help clients improve their performance to deliver much-needed
therapies to market. With 14,000 employees providing services to
clients in 70 countries, inVentiv Health designs best practices,
processes and systems to enable clients to successfully navigate an
increasingly complex environment. inVentiv Health, Inc. is
privately owned by inVentiv Group Holdings, Inc., an organization
sponsored by affiliates of Thomas H. Lee Partners, L.P., Liberty
Lane Partners and members of the inVentiv Health management team.
For more information, visit inVentivHealth.com.
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version on businesswire.com: http://www.businesswire.com/news/home/20150901006060/en/
Media:XeroxErin Isselmann,
+1-503-819-6825erin.isselmann@xerox.comorXeroxSean Collins,
+1-310-497-9205sean.collins2@xerox.com
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