CoverMyMeds' electronic prior authorization (ePA) service automates and accelerates the prescription approval process, which otherwise is manual and time consuming. By ensuring appropriate access to medications, CoverMyMeds helps customers avoid administrative waste and unnecessary medical spending caused by prescription abandonment. McKesson and CoverMyMeds have partnered together to offer solutions for pharmacies since 2010. Once the transaction closes, CEO and co-founder Matt Scantland will continue to lead the company with the existing leadership team, who will run the company from their Columbus and Cleveland, Ohio operations.
$1.4B (a portion of the amoount is contingent upon CoverMyMeds' future financial performance)
— Chris Adams, partner at Francisco Partners, a CoverMyMeds investor
— Matt Scantland, CoverMyMeds Co-Founder and CEO