PokitDok announced it has acquired the pharmacy and software assets of Oration PBC, which will enable the company to complete support for delivery of essential commercial pharmacy benefit data.
According to a press release, the acquisition is closed, and terms were not disclosed.
PokitDok introduced Pharmacy Benefit and Eligibility tools in 2016 to serve the more than 16 million Medicare Advantage beneficiaries and 40.5 million who rely on Medicare Part D Prescription Drug Benefit Plans. The company’s solutions give physicians, EMRs and other digital health innovators the ability to find out which medications are covered by a member’s insurance plan before prescribing, and ensures those drugs are available for pick up from a qualified, in-network pharmacy at an affordable price for the consumer.
This acquisition enables PokitDok to support its data delivery so organizations, providers and consumers have tools to make better healthcare and treatment decisions. Moving forward, these transactions will also be offered to participants in PokitDok’s DokChain network.
“This acquisition rounds out our healthcare enterprise business offering by providing the necessary requirements to process commercial pharmacy benefit transactions that play such a meaningful role in the pharmacy supply chain,” said Lisa Maki, co-founder and CEO of PokitDok. “This strategic investment helps us meet the in-bound demand for commercial pharmacy benefit information that can now be built into new digital health applications at scale. It also puts us in an advantageous position to realize new supply chain efficiencies through DokChain as blockchain continues to become increasingly relevant in the business of healthcare.”