RxResults, a pharmacy benefits risk management company, has raised $4 million, according to a filing with the SEC.
The company, headed by CEO Terry Baskin and based in Little Rock, Arkansas, provides its clients with informatics-powered tools that seek to reduce cost and improve quality for pharmacy benefits for both insurers and their members, according to a description on its website.
It is also in a joint venture with the University of Arkansas Medical Sciences College of Pharmacy’s Evidence-Based Prescription Drug Program, which offers consulting services to self-funded employers, health plans and trust funds to lower prescription drug costs within their respective pharmacy benefit plans.
The company raised the $4 million through the sale of equity, debt and other securities in the states of Arkansas, Connecticut, Delaware, Florida, Georgia, Illinois, New Jersey, New York and South Carolina, according to a Form D filing.
The company has a specific eye on the self-insured market of employers with more than 5,000 workers.
