Axios Pro Exclusive Content

Scoop: WCAS acquires AssistRx, sources say

Illustration of a prescription paper being digitized.

Illustration: Aïda Amer/Axios

Welsh, Carson, Anderson & Stowe acquired AssistRx, a privately held pharmacy services software platform, sources tell Axios.

Why it matters: Amid resilient pharma and life sciences sectors, PE firms are flocking to outsourced services companies.

Details: Exact valuation could not be learned, but two sources tell Axios the seller's expectations throughout the process hovered around $600 million.

  • WCAS declined to comment.
  • Leerink Partners led the deal, per sources.

How it works: Orlando-based AssistRx offers a suite of products intended to accelerate electronic prescribing, patient consent, prior authorizations, real-time patient benefit eligibility queries and digital enrollment into therapy support programs.

  • AssistRx serves life sciences companies, health care providers and specialty pharmacies, per its website.
  • Founded in 2009, AssistRx acquired patient management software provider Caret in 2017 for an undisclosed price.

The bottom line: As daylight breaks in health care dealmaking, the backlog of deals from the last two years is starting to clear up.

Go deeper