October 8, 2020
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.
Tricard notes this acquisition further strengthens their 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 into 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.