TrialCard Announces Acquisition of Canary Insights
October 8, 2020
MORRISVILLE, NC—TrialCard Incorporated announced today it has acquired Canary Insights, a Lakewood, Colorado-based healthcare information management company that provides its clients with a comprehensive subscription service for identifying and tracking changes to health plan policy and coverage information.
This acquisition further strengthens TrialCard’s position as a leading provider of payer intelligence for the biopharmaceutical and medtech industries. In November 2019, TrialCard acquired Bellingham, Washington-based Policy Reporter, a healthcare technology company that also specializes in the monitoring and reporting of health plan policy intelligence. TrialCard plans to combine Canary Insights’ expertise within the medical device and diagnostics marketplace with Policy Reporter’s patented policy monitoring technology to accelerate growth within both businesses.
“For over twenty years, TrialCard has excelled at simplifying patient access to life-changing products,” said TrialCard President and CEO Mark Bouck. “The acquisition of Canary Insights further enhances our ability to provide our clients with increased visibility into vital health plan policy information specific to their products.”
Pharmaceutical and medical policies are complex, unstructured documents that can be challenging to understand and interpret and can change at any time without notice. Canary Insights was founded to help customers identify and track the ever-evolving health plan policy environment. The company carefully and continuously mines coverage and reimbursement changes for hundreds of healthcare-related products across the payer and PBM landscape. Canary Insights expertly automates the necessary, but often frustrating, act of staying abreast of policy changes that impact patient access.
“I would like to thank the entire Canary Insights team for all it has accomplished since the company was founded in 2013,” said Patty Telgener, Canary Insights’ co-founder, President, and CEO. “By joining forces with TrialCard and Policy Reporter, I am confident we will be able to create even more value for our loyal customers.”
“We are excited to further strengthen our health plan policy intelligence offerings with the acquisition of Canary Insights,” said Scott Dulitz, TrialCard’s Chief Strategy Officer. “In a short period of time, TrialCard has made a significant investment in simplifying the often-complicated world of health plan policy for the benefit of our current and future clients and their patients. By integrating these capabilities with TrialCard’s core patient support services, we are building a truly differentiated market access offering.”
Today’s announcement marks the fifth acquisition for TrialCard in the past two years. In addition to the aforementioned Policy Reporter deal, in October 2018 the burgeoning biopharmaceutical solutions provider acquired TC Script, a non-commercial dispensing pharmacy licensed in all U.S. states and territories. In January 2019, TrialCard bought Raleigh-based patient affordability competitor Rx Solutions. In September 2019, a deal was completed for Mango Health, the leading provider of mobile-based medication and adherence solutions for the life sciences sector.
TrialCard Incorporated provides patient affordability, medication access and adherence, patient support, and clinical trial services on behalf of biopharmaceutical manufacturers. Founded in 2000, TrialCard has connected over 33 million patients with nearly $15 billion in branded drug savings to date. The company is headquartered in Morrisville, North Carolina.
About Policy Reporter
Policy Reporter, a TrialCard company based in Bellingham, WA, is a leading provider of payer intelligence services for the pharmaceutical, medical device, diagnostic, payer, and provider markets. For more information, please visit www.policyreporter.com
About Canary Insights
Canary Insights provides a comprehensive subscription-based offering of clinical policy and reimbursement changes to clients and consultants in the pharmaceutical, medical device, laboratory, diagnostics, and healthcare provider/payer markets. Founded in 2013, its clients include some of the world’s largest biopharmaceutical, medical device, diagnostics testing, and healthcare companies. The company is headquartered in Lakewood, CO. For more information, please visit www.canaryinsights.com.