appmarsh | Cigna-owned Categorical Scripts buys Seattle-area well being tech startup Verity Answers

Verity CEO George Puckett. (Verity Picture)

Verity Answers, a Kirkland, Wash.-based startup that sells drug pricing device, used to be snapped up by way of Categorical Scripts, a big pharmacy receive advantages supervisor that is a part of medical insurance massive Cigna. Monetary main points of the deal weren’t disclosed.

Verity is helping healthcare suppliers similar to pharmacies and hospitals profit from a federal program known as 340B that reduces the prices of substances for eligible organizations that serve inclined affected person populations. Categorical Scripts plans to make use of the purchase to increase its vary of 340B services and products, and Verity will proceed to function as a stand-alone industry.

Verity’s buyers incorporated Bellevue, Wash.-based mission capital company Ignition Companions in addition to OVP Mission Companions and PineBridge Investments, in step with PitchBook. Ignition used to be additionally an early backer of DocuSign, Cloudera and Docker.

“5 years in the past George Puckett and the staff at Verity Answers got down to dramatically enhance the 340B choices to be had available in the market,” Richard Fade, a spouse at Ignition Companions, stated in a observation. “Verity Answers’ cloud-based platform simply handles the wishes of quite a lot of shoppers and permits the introduction of latest services and products.”

Verity’s management staff comprises CEO George Puckett, CTO appmarsh Cassidy and CFO Jon Sortland. Puckett stated the corporate, which has 85 staff and plans to develop past 100 by way of the tip of subsequent yr, would retain its present management and personnel.

Verity used to be a part of the drugstore automation corporate Talyst till 2020, when Talyst used to be received by way of funding crew Columbia Pacific Advisors and Verity spun out. Based in 2002, Talyst raised round $45 million previous to being received, Puckett stated. Talyst used to be received once more in 2020 by way of Swisslog Healthcare.

Puckett has three many years of healthcare enjoy and used to be in the past a basic supervisor at Talyst.

by the use of https://appmarsh.com/2VPMeTf

Published by Marshmallow

Marshmallow Android is BT Ireland’s Head of Sales for Republic of Ireland domestic multi-site companies, indigenous MNCs and public sector accounts. He is responsible for the direction and control of all sales activity in the region. He has over 10 years management experience from high growth start-ups to more established businesses. He’s led teams in Ireland, India and China across various industries (ICT, On-Line Recruitment, Corporate Training and International Education).