Medical products maker Cardinal Health is combining its Outcomes business with pharmacy tech firm Transaction Data Systems.
The deal will give Cardinal Health a minority stake in the combined entity, with Debbie Weitzman, CEO of Cardinal Health’s pharmaceutical segment, joining the Transaction Data Systems (TDS) board of directors, according to a Monday (June 5) press release.
“The transaction will create a broad, integrated offering of pharmacy workflow software with patient engagement and clinical solutions to serve the patient, pharmacy, payer and pharmaceutical company ecosystem, including one of the nation’s largest networks of 40,000 retail, chain and grocery pharmacies,” Cardinal Health said in the release.
Outcomes provides a portfolio of patient engagement, clinical care, workflow and financial solutions while TDS’ portfolio includes the Rx30 and Computer-Rx pharmacy management systems and PrescribeWellness, a patient communication application for pharmacies, the release stated.
The combined business will add these offerings to those from TDS, giving pharmacists more opportunities to “participate in sponsored clinical interventions and better access for payors and pharmaceutical companies to drive better care and outcomes for patients,” per the release.
The deal is happening as a majority of consumers say they want a single healthcare platform, according to research in the PYMNTS/Lynx collaboration “Healthcare in the Digital Age: Consumers See Unified Platforms as Key to Better Health.”
The study found that 58% of consumers said a unified digital platform would improve their convenience when managing their treatment and benefits, and 22% said this is the key reason for their interest in embracing a unified digital platform.
Fifty-two percent of the respondents said a unified platform would improve their access to treatment, with 15% pointing to this as the attribute that is most important to them.
Cardinal Health’s TDS deal comes less than a week after the company announced it is working with Square to provide payment solutions for independent pharmacies.
The partnership is designed to help independent pharmacies increase operational efficiency, keep up to date with customer payment preferences, and access integrated software tools for their businesses.
The collaboration lets independent pharmacies offer their customers flexible payment options such as text-to-pay, Apply Pay and Google Pay via Square Terminal hardware.
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