Posts tagged pharmacy benefits

I’m proud to announce today that Truveris has closed a $10MM Series B round of funding led by New Leaf Venture Partners and joined by Tribeca Venture Partners, New Atlantic Ventures, and First Round Capital.

Truveris is growing quickly and we’ll be using the new funds to expand our ever growing line of software products.  Our technology is altering the way that pharmacy benefits are being sold and adminstered, and I’m excited that New Leaf Venture Partners is the latest company to recognize its importance.

New Leaf Venture Partners is a great addition due to their expertise in healthcare technology. They have years of experience investing in ideas with big potential and a proven record of success. I am pleased to work together and take Truveris to the next level as an enterprise software-as-a-service platform that will help with cost containment and data analytics.

Bryan Birch
Chairman, President, & CEO
Truveris 

Today I had the opportunity to speak at the UBS 22^nd Annual Global Healthcare Services Conference held in New York. The conference itself featured many thought leaders across many healthcare related industries as well as various media concerns.

I discussed Truveris, our mission, our services, and, in particular, two products – TruBid and TruGuard. TruBid manages pharmacy RFPs from bidding to contract within 30 days and TruGuard ensures accuracy of your contractual terms on an ongoing basis. These products work hand-in-hand and allow the payer to control the full lifecycle of their pharmacy benefit plans.

The drug market is big – 2010 drug spend was estimated at $307B. The unregulated nature of this industry, with complicated relationships amongst pharmacies, drug manufacturers, and employers creates a need for improvement. The Truveris technology brings improvement by bringing efficiency and savings to the pharmacy benefits industry through innovation and operational excellence.

This was a great forum to showcase Truveris and how our company is changing the way pharmacy benefits are being delivered. Stay tuned for more, as we are just getting started. Click here to read the media alert about this conference.

Bryan Birch
Chairman, President, & CEO
Truveris