inVentiv Health Acquires Catalina Health to Become Nation's Largest Provider of Patient Adherence Programs
BURLINGTON, Mass., Oct. 31, 2013 /PRNewswire/ -- inVentiv Health, offering best-in-class clinical, commercial and consulting services, announced today that it has acquired Catalina Health, a subsidiary of Catalina, and combined the organization with Adheris, an inVentiv Health company.
With this acquisition, inVentiv Health's Adheris becomes the nation's largest provider of tailored, direct-to-patient medication adherence programs. Medication adherence programs, that include refill reminders and disease education, help millions of chronically ill people stay on their doctor-prescribed treatment, saving the healthcare system money and improving patient outcomes.
Both Adheris and Catalina Health work through pharmacies across the country to deliver adherence communications to millions of people. By joining forces, Adheris now has an unmatched reach through a network of more than 40 pharmacy partners composed of 30,000 pharmacies representing 65% of all retail prescriptions. Meanwhile, Adheris continues to rapidly grow its physician office network as a complement to its pharmacy network, allowing the company to reach even more patients with personalized communications across the continuum of care.
"Improving patient outcomes is our number one priority," said Mark Dmytruk, President, inVentiv Health Patient Outcomes. "A coordinated adherence approach -- reaching individual patients across multiple touch points with customized messages based on predictive analytics -- improves adherence in ways other organizations simply cannot match."
Adheris' enhanced services will allow patients to receive communications in the doctor's office from their trusted healthcare provider, followed by face-to-face communication with their pharmacist. Later, when it is time to refill their prescription, Adheris can send patients a message from their pharmacy reminding them of the importance of staying on the medication their doctor has prescribed. Communications can be delivered through multiple channels, including mobile.
By combining its expertise in predictive analytics with Catalina Health, Adheris will offer even stronger and more effective messaging based on a more robust understanding of consumer preferences and needs. The acquisition also allows Adheris to provide clients with a single vendor for the purchase of multiple services, further streamlining the delivery of effective adherence communications.
Adherence programs have demonstrated value in improving individual health and saving the healthcare system money. At a time when federal, state and private healthcare programs are seeking ways to reduce costs and improve care, adherence programs are increasingly important and further the goals of the Affordable Care Act.
"Over the past year, we've seen growing client demand for coordinated patient messaging and an increased focus on patient-centric outcome strategies," said Dmytruk. "The acquisition improves our ability to deliver exactly what our clients need."
Renee Selman, President of Catalina Health, will lead the combined business. Prior to joining Catalina Health, Selman served in various leadership positions with Johnson & Johnson, including Worldwide President of Ethicon Women's Health and Urology. Jim Rotsart will move from GM/Executive Vice President of Adheris to become EVP of inVentiv Health Patient Outcomes.
Catalina Health will now operate under the Adheris name. For more information, visit www.adheris.com.
About Adheris, Inc.
An inVentiv Health company, Adheris is the nation's largest provider of tailored, direct-to-patient medication adherence programs. Medication adherence programs, that include refill reminders and disease education, help millions of chronically ill people stay on their doctor-prescribed treatment, improving patient outcomes. Adheris' unmatched network, of more than 40 pharmacy partners composed of 30,000 pharmacies, represents 65% of all retail prescriptions. Its groundbreaking, multi-channel programs are HIPAA compliant and are proven to influence positive behavior change for millions of patients across the continuum of care.
About inVentiv Health
inVentiv Health, Inc. is a leading global provider of best-in-class clinical, commercial and consulting services to the life sciences industry. inVentiv offers convergent services that accelerate the performance of companies working to improve human life. In 40 countries around the world, inVentiv's 12,000 employees work with more than 550 pharmaceutical, biotech and device companies, as well as companies that see health as a central part of their mission. 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 management team. inVentiv Health helps clients transform promising ideas into commercial reality. For more information, visit http://www.inVentivHealth.com.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks that may cause our performance to differ materially. These forward-looking statements reflect our current views about future events and are subject to risks, uncertainties and assumptions. We wish to caution readers that certain important factors may have affected and could in the future affect our actual results and could cause actual results to differ significantly from those expressed in any forward-looking statement. Such factors include, without limitation: the impact of our substantial level of indebtedness on our ability to generate sufficient cash to fulfill our obligations under our existing debt instruments or our ability to incur additional indebtedness; the impact of customer project delays and cancellations and our ability to sufficiently increase our revenues and manage expenses and capital expenditures to permit us to fund our operations; the impact of the consummation of any future acquisitions; the impact of any change in our current credit ratings and the ratings of our debt securities on our relationships with customers, vendors and other third parties; the impact of any additional leverage we may incur on our ratings and the ratings of our debt securities; our ability to continue to comply with the covenants and terms of our senior secured credit facilities and to access sufficient capital under our credit agreement or from other sources of debt or equity financing to fund our operations; the impact of any default by any of our credit providers; our ability to accurately forecast costs to be incurred in providing services under fixed price contracts; our ability to accurately forecast insurance claims within our self- insured programs; the potential impact of pricing pressures on pharmaceutical manufacturers, including pricing pressures, from healthcare reform initiatives or from changes in the reimbursement policies of third-party payers; our ability to grow our existing client relationships, obtain new clients and cross-sell our services; the potential impact of financial, economic, political and other risks, including interest rate and exchange rate risks, related to conducting business internationally; our ability to successfully operate new lines of business; our ability to manage our infrastructure and resources to support our growth including through outsourced service providers; our ability to successfully identify new businesses to acquire, conclude acquisition negotiations and integrate the acquired businesses into our operation, and achieve the resulting synergies; any disruptions, impairments, or malfunctions affecting software as well as excessive costs or delays that may adversely impact our continued investment in and development of software; the potential impact of government regulation on us and on our client base, including the impact of the final HIPAA Privacy Rule on the willingness of pharmaceutical manufacturers to sponsor patient adherence programs; our ability to comply with all applicable laws as well as our ability to successfully adapt to any changes in applicable laws on a timely and cost effective basis; our ability to recruit, motivate and retain qualified personnel; any potential impairment of goodwill or intangible assets; consolidation in the pharmaceutical industry; changes in trends in the healthcare and pharmaceutical industries or in pharmaceutical outsourcing, including initiatives by our clients to perform services we offer internally; our ability to convert backlog into revenue; the potential liability associated with injury to clinical trial participants; the actual impact of the adoption of certain accounting standards; and our ability to maintain technological advantages in a variety of functional areas, including sales force automation, electronic claims surveillance and patient compliance. Holders of our debt instruments are referred to reports provided to investors from time to time and the offering memoranda provided in connection with the issuance of our notes for further discussion of these risks and other factors.
Director, Corporate Communications
inVentiv Health, Inc.
+1 781 425 4624
SOURCE inVentiv Health, Inc.
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