Financial terms of the transaction weren’t disclosed. Cardinal said Thursday that the addition of OutcomesMTM will boost its ability to help payers, retail pharmacies, hospitals and integrated delivery networks provide MTM services to patients.
Based in West Des Moines, Iowa, OutcomesMTM contracts with more than 40 health plans throughout the United States to deliver personalized MTM services to more than 5.5 million patients via a network of more than 50,000 chain and independent retail pharmacies.
Plans call for OutcomesMTM to become part of Cardinal’s pharmaceutical business unit. OutcomesMTM’s 60-plus employees, including its senior management team, will transition to Cardinal following the acquisition.
“This acquisition aligns with Cardinal Health’s strategy of getting closer to the patient by significantly strengthening our ability to help payers, retail pharmacies, hospitals and integrated delivery networks connect their patients, employees and members to pharmacists who can deliver personalized MTM services that can improve care quality and reduce costs,” Jon Giacomin, chief executive officer of Cardinal Health’s pharmaceutical segment, said in a statement. “This acquisition also aligns with Cardinal Health’s commitment to helping retail pharmacists receive reimbursement for delivering important cognitive services to patients.”
As the health care industry migrates toward value-based performance models, MTM services are being seen as a key toolfor improving medication adherence and patient health outcomes while reducing adverse events and unnecessary health care costs across the continuum of care, Giacomin noted. MTM services also play a pivotal role in enabling payers to improve their Medicare Star Ratings performance and other quality improvement measures, he added.
Cardinal launched its own MTM solution for retail pharmacies in June 2014 in which Cardinal pharmacists deliver MTM services to patients on behalf of participating retail pharmacies. And last October, Cardinal rolled out an MTM solution for payers through which the company connects MTM-eligible members with retail pharmacies that can provide MTM services.
“We sought a partner that shared our vision for MTM, along with the resources to advance our program to new heights. We have found that partner in Cardinal Health,” stated Tom Halterman, CEO of OutcomesMTM. “We look forward to combining our industry-leading, face-to-face MTM network and technology with Cardinal Health’s broad health care expertise to define a new state-of-the-art for MTM programs.”