BALTIMORE, Aug. 6, 2013 /PRNewswire/ -- Ameritox, the nation's leader in pain medication monitoring, is proud to announce the acquisition of PRIUM, a leading provider of medical cost management services currently serving the Workers' Compensation market.
"We are extremely excited about the opportunity to bring the unique capabilities of these two great companies together," said Ameritox CEO Scott Walton. "Employers are increasingly aware and concerned about the quality-of-life issues and financial ramifications that the epidemic of prescription drug abuse and misuse is having on their employees, particularly the injured worker. Just as Ameritox pioneered the market for prescription drug monitoring, PRIUM has pioneered a unique set of services on the medical management side of the equation."
Ameritox's mission is to help improve clinical care for patients while at the same time preventing the human tragedy associated with the misuse, abuse and diversion of prescription drugs. Similarly, PRIUM is focused on helping to reduce inappropriate use of prescription medications in the Workers' Compensation market, where more than 20% of claims include a prescription for narcotics such as pain medications.
"The proper use of prescription medication is central to each of our missions," said Michael Gavin, President of PRIUM. "By combining our expertise we can each have a greater impact on quality clinical care. PRIUM is an outstanding fit for Ameritox's expanding business portfolio and we look forward to broadening our services."
Both companies will continue to function as separate entities. Aiding the acquisition, Katten Muchin Rosenman provided legal advice to Ameritox. For PRIUM, SunTrust Robinson Humphrey acted as exclusive financial advisor and Nelson Mullins Riley & Scarborough LLP provided legal counsel.
PRIUM sets the industry standard for workers' compensation medical interventions through its ability to secure higher agreement rates and enforce modified treatment plans. The hallmark of the medical intervention company's success is a collaborative physician engagement process encompassing evidence-based medicine, clinical oversight, and jurisdictional guidelines to ensure optimal financial and clinical outcomes, particularly for patients on chronic opioid therapy. PRIUM eliminates unnecessary treatment through a comprehensive approach that includes complex medical interventions and utilization reviews. Based in Duluth, Ga., PRIUM can be reached at www.prium.net or 888-588-4964. For insight on workers' compensation medical issues, read PRIUM's blog at www.priumevidencebased.com.
Ameritox is the nation's leader in Pain Medication Monitoring SolutionsSM, offering specialized laboratory testing and reporting services. Ameritox's expertise and innovative science provide physicians with the information and support they need to enhance and optimize the care of chronic pain patients. Monitoring through prescription drug testing can help physicians make more informed clinical decisions while also helping to reduce the possible risk of misuse, abuse or diversion of powerful medications. Ameritox is headquartered in Baltimore, Md. with laboratory facilities in Midland, Texas and Greensboro, N.C. Ameritox can be found online at www.ameritox.com, on Twitter @Ameritox, on Facebook at facebook.com/ameritox, and on YouTube at www.youtube.com/ameritox.
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