MORRISVILLE, NC— TrialCard Incorporated announced today it posted 42 percent year-over-year organic revenue growth in 2019, as noted in the release of the company’s annual highlights. This impressive growth comes one year after the technology-enabled pharmaceutical solutions provider achieved a YOY growth of 44 percent in 2018.
“2019 was the best financial year in our company’s history,” said TrialCard president and CEO Mark Bouck. “Our aggressive M&A strategy, together with business from new clients and an increase in business with our existing clients, resulted in another year of record growth. While the acquisitions will play a key role in our future growth, it’s important to note last year’s revenue growth was all organic,” he added. “The technology we acquired in 2019 will fuel our continued efforts around building the most comprehensive and integrated patient solutions platform in the industry.”
The company’s record growth is rooted in its commitment to enhancing the patient experience with specialty products for their pharmaceutical manufacturer clients. TrialCard provides an integrated suite of patient access, affordability, and adherence solutions that optimizes the patient and provider treatment experience, leading to increased engagement and superior outcomes.
“With 2019’s strong trend toward healthcare consumerism we continued to leverage new technology to evolve our solutions to meet patients where they are in their journey,” noted Scott Dulitz, chief strategy officer. “Last year alone, TrialCard’s end-to-end patient support platform helped over 2.7 million people gain access to life changing drugs while saving nearly $2.6 billion in patient cost-sharing expenses. By remaining true to our mission and putting the patient at the center of everything we do, TrialCard is well-positioned for continued success.”
TrialCard has completed four key acquisitions in the past fifteen months. In October 2018, it acquired TC Script, a non-commercial dispensing pharmacy located in Scottsdale, AZ. In January 2019, the pharmaceutical solutions provider bought Raleigh-based competitor Rx Solutions. In September 2019, TrialCard completed a deal for Mango Health, the leading provider of mobile-based medication and adherence solutions for the life sciences sector. Finally, in November 2019, it acquired Policy Reporter, a health insurance intelligence company specializing in increasing patient access to pharmaceuticals, biologics, medical devices, and diagnostic testing.
In addition to the aforementioned acquisitions, some of the more notable accomplishments were:
- Onboarded and trained over 1100 new team members into the TrialCard culture
- Increased service levels by expanding TrialCard’s technology and innovation team to more than 175 members
- Increased the company’s number of manufacturers by 64% and brands serviced by 55% in Patient Affordability, Market Access, and Clinical Trial Support
- Achieved recertification for the coveted ISO/IEC 27001 certification, the gold standard in data security management
- Saved pharmaceutical manufacturers over $10 million in losses by investigating more than 500 suspicious pharmacies as part of its anti-fraud efforts
- Contributed to and supported more than 30 different local, state, and national charities
“TrialCard’s success in 2019 would not have been possible without the dedication of our devoted employees,” added Bouck. “We look forward to bringing new and useful solutions to our clients and their patients in 2020 and beyond.”
TrialCard Incorporated provides patient affordability, medication access and adherence, patient support, and clinical trial services on behalf of pharmaceutical manufacturers. Founded in 2000, TrialCard has connected nearly 33 million patients with over $15 billion in branded drug savings to date. The company is headquartered in Morrisville, North Carolina.