Express Scripts has acquired Verity Solutions, a provider of 340B software and services. No financial terms were disclosed. Verity Solutions was a portfolio company of Ignitions Partners.
BELLEVUE, WA – October 17, 2019 – Ignitions Partners congratulates their portfolio company, Verity Solutions, on their acquisition by Express Scripts, a Cigna Corporation Company (NYSE:CI). As the result of the merger the companies will provide an enhanced set of existing and new services to their customers.
“Five years ago George Puckett and the team at Verity Solutions set out to dramatically improve the 340B offerings available in the market,” said Richard Fade, Partner at Ignition Partners. “Verity Solutions’ cloud-based platform easily handles the needs of a wide-range of customers and enables the creation of new services. The team coupled this with great customer service – it’s not surprising the company is now rated number one its field.”
Industry leaders Express Scripts and Verity Solutions, share a common mission of improving the healthcare system through innovation, specialized expertise and strong industry partnerships. Together, Express Scripts and Verity Solutions will offer a comprehensive range of 340B services. Verity Solutions will continue to lead the Verity Solutions team and operate as a stand-alone company under the Express Scripts umbrella, expanding the range of health services and improving the ability to help integrated health systems, hospitals and centers of care throughout the U.S. serve vulnerable patient populations.
Express Scripts will continue to move towards centralized inventory management for contract pharmacy relationships using Verity Solutions VHUBTM platform and will support Verity Solutions’ continued business growth and current strategy in 340B administration. Clients of each company will continue to work through existing service models and relationships, and under existing contracts. Express Scripts’ covered entity clients may continue to use the 340B administrator of their choice.
Verity Solutions remains committed to working with a wide-range of integrated healthcare systems, acute-care hospitals, community health centers, federally-qualified health centers, pharmacies, and other 340B-eligible covered entities, offering their partners the leading solutions and services they have come to rely on.
About Ignition Partners
Ignition Partners is the leading venture capital firm focused on early-stage investments in enterprise software. Ignition strives to be a transformative partner to its portfolio companies investing not only capital but time, expertise and access to an impressive network of technology leaders and decision makers throughout the Fortune 500. Ignition Partners’ track record includes early investments in B2B category creators including Cloudera, Docker, DocuSign, Heroku, Splunk and XenSource. For more information, visit http://www.ignitionpartners.com/
About Verity Solutions
Since 2002, Verity Solutions has maintained an exemplary HRSA audit track record while partnering with covered entities to stretch scarce resources, foster compliance, respond to changing regulations, and maximize drug cost savings through the 340B drug discount program. Hundreds of integrated healthcare systems, acute-care hospitals, community health centers, federally-qualified health centers, pharmacies, and other 340B-eligible covered entities throughout the United States rely on Verity’s industry leadership and 340B® software and service solutions to successfully manage the 340B program. For more information please call 800.581.1378 or visit verity340b.com.