Business
OptimizeRx Announces Agreement to Acquire Medicx Health for $95 million to Expand its Omnichannel Reach to Consumers
Preannounces Preliminary Third Quarter 2023 Results OptimizeRx adds new, proven, profitable technologies to become the most comprehensive healthcare marketing
About this update from Optimizerx Corporation
[{"type":"text","content":"Preannounces Preliminary Third Quarter 2023 Results OptimizeRx adds new, proven, profitable technologies to become the most comprehensive healthcare marketing platform in the nation. Consolidated revenue run rate will increase to nearly $100 million and the acquisition is expected to be immediately accretive to earnings. Third quarter 2023 headline numbers to come in ahead of consensus with revenue for OptimizeRx standalone expected to be between $15.2-$15.5 million and non-GAAP net income expected to be $0.6-$1 million. Conference call to start at 8:30am EST on Thursday, October 12, 2023. WALTHAM, Mass., Oct. 12, 2023 (GLOBE NEWSWIRE) -- OptimizeRx Corp. (the “Company”) (Nasdaq: OPRX), the leading provider of healthcare technology solutions helping life sciences companies reach and engage healthcare professionals (HCPs) and patients, today announced it has signed an agreement to acquire Scottsdale, Arizona-based Healthy Offers, Inc., dba Medicx Health (\"Medicx”), a leading healthcare consumer-focused omnichannel marketing and analytics company. The transaction purchase price is $95 million, and certain members of Medicx’s management plan to invest approximately $10.5 million of their proceeds into the Company’s common stock. Closing is expected during the fourth quarter of 2023. The acquisition of Medicx further advances OptimizeRx’s mission to create a more informed and empowered healthcare community using new technology solutions. The addition of the Medicx patient and HCP-focused Micro-Neighborhood® Targeting Platform, built on its MX# advanced identity resolution technology, to OptimizeRx’s HCP-focused Dynamic Audience Activation Platform (DAAP) is expected to provide a single source of innovative technologies that will enhance the reach and efficacy of healthcare marketing for life sciences organizations. “Our acquisition of Medicx is expected to be a major business accelerator for us as it encompasses all three of our growth drivers: expanding our audience, introducing new solutions, significantly opening client penetration and growth opportunities,” said Will Febbo, Chief Executive Officer, OptimizeRx. “Moreover, Medicx has a very healthy financial profile and we believe this acquisition will be transformative to our growth and profitability.” “We’ve led the market in digital point-of-care expansion for pharma marketing...