BURLINGTON, Mass., Feb. 29, 2016 /PRNewswire/ -- Decision Resources Group (DRG) today announced that it has acquired Adaptive Software (Adaptive), developers of market-leading pharmacy benefit and formulary management software platforms.
Building on its history of serving healthcare payers (Payers) with its leading formulary and health plan data products, DRG's acquisition of Adaptive represents a further push for DRG into the Payer market. The addition of Adaptive augments DRG's role in providing data, insight and software solutions required to answer critical questions relating to drug efficacy, pricing, market access, contracting strategies and benefit design. Adaptive's customers manage pharmacy benefits for over 95 million U.S. lives.
Jim Lang, CEO of DRG commented, "Through our combination with Adaptive, we are elated to add another marquee asset to DRG's portfolio. Marrying Adaptive's best-in-class software and services with our gold standard formulary and restrictions data solidifies our leading position in the drug value ecosystem, and makes DRG one of very few firms positioned to deliver cutting-edge insight and analytics, in context, directly alongside mission-critical business processes. With the addition of Adaptive, DRG's premier Fingertip Formulary product will be directly supported by validation from real-time formulary data – directly from Payers and Pharmacy Benefit Managers. The DRG-Adaptive combination will enable DRG to build unique products to manage critical market access questions and ensure that the Fingertip Formulary dataset remains the source of truth in the formulary data industry."
Joe Layne, CEO of Adaptive said, "For over 15 years, Adaptive has provided high-value software solutions to Pharmacy Benefit Managers and health plans. It's a complex industry, but it doesn't have to be, and Adaptive's goal has been to simplify the process of managing prescription benefits by leveraging technology. We are passionate about helping our customers grow and we treat their businesses as if they were our own. DRG shares our mission, a customer-first culture, and a deep ambition to support leading companies in their transformation to value-based healthcare. We are excited to join the DRG family and are confident that, together, we can better serve our customers and the needs of the rapidly evolving healthcare industry."
About Decision Resources Group
DRG, a subsidiary of Piramal Enterprises Ltd., offers best-in-class, high-value data, analytics and insights products and services to the healthcare industry, delivered by more than 900 employees across 15 offices in North America, Europe and Asia. DRG provides the Life Sciences, Provider, Payer and Financial Services industries the data, tools, insights and advice they need to compete and thrive in an increasingly complex and value-based marketplace. decisionresourcesgroup.com.
About Adaptive Software
Adaptive Software, located in Kansas City, currently offers to health plans and Pharmacy Benefit Managers (PBMs) a suite of software solutions that streamlines formulary management, pharmacy networking, pricing, and pharmacy benefit design. Some of the most forward-thinking pharmacy benefit plans and PBMs rely on Adaptive products to maintain a single "source of truth" in their organizations. Adaptive sells components of its comprehensive software suite to customers who collectively manage benefits for over 95 million U.S. lives. adaptivesoftware.com.
About Piramal Enterprises Ltd.
Piramal Enterprises Ltd. (PEL) is one of India's large diversified companies, with a presence in the healthcare, financial services and information management sectors. In the healthcare space, PEL is one of the leading custom manufacturing players globally, has a presence in the global critical care segment with a portfolio of inhalation and injectable anaesthetics, and its OTC business is ranked no. 7 in India. PEL also has a strong presence in the Financial Services space in India, principally investing in sectors such as Real Estate and Infrastructure, and has strategic equity investments in Shriram Group, a leading financial services conglomerate of India. PEL acquired DRG in 2012 as the cornerstone of its entry into the global information management industry. piramal.com.
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SOURCE Decision Resources Group