Change Healthcare acquired the pharmaceutical information technology firm eRx Network for $212.9 million, the company announced May 4.
eRx drew in about $67 million in revenue during the 12-month period that ended this February. The company offers an online pharmacy network that allows providers to electronically exchange prescriptions with pharmacies in real-time.
Change Healthcare spun off eRx in 2017 as part of a joint venture with McKesson, according to the Nashville Post. The deal included a clause in which Change was permitted to buy back eRx if McKesson's stake in the joint venture fell below 5 percent.
With its acquisition of eRx, Change Healthcare now wields both medical and pharmacy data, giving the company potential to enter new markets and maintain a wider solutions portfolio for pharmacies. Change Healthcare will also now provide eRx customers access to its blockchain network and other cloud-based technologies.
To learn more about the deal, click here.