Welcome to our dedicated page for OptimizeRx Corporation news (Ticker: OPRX), a resource for investors and traders seeking the latest updates and insights on OptimizeRx Corporation stock.
OptimizeRx Corporation (NASDAQ: OPRX) is a leading provider in the healthcare technology sector, offering digital health messaging solutions that enhance communication between pharmaceutical companies, healthcare providers, and patients. OptimizeRx specializes in the integration of electronic health records (EHR) to distribute financial assistance, educational materials, and clinical information directly at the point of care.
The company leverages its proprietary SampleMD and eCoupon technologies to expand the distribution of patient savings and support materials within the e-prescribing workflows of over 300,000 healthcare providers. These platforms enable healthcare providers to deliver real-time financial assistance and support to patients, thereby improving medication adherence and affordability.
OptimizeRx offers a range of products, including Financial Messaging, Brand and Clinical Messaging, Brand Support, and Patient Engagement. These solutions aim to help patients start and stay on their prescribed treatments while providing pharmaceutical companies with efficient ways to increase brand awareness and adherence.
Recently, OptimizeRx has undergone significant leadership changes. Gus Halas retired as Chairperson of the Board, succeeded by Lynn O’Connor Vos, a seasoned executive with extensive experience in healthcare IT and life sciences. Additionally, Catherine M. Klema was appointed to the Board, bringing her expertise in strategy, finance, and governance.
Financially, OptimizeRx is in a robust position. The company's revenue for FY2023 is estimated to exceed $68-$70 million, with adjusted EBITDA ranging between $3-$4 million. For 2024, the company anticipates revenue of at least $100 million due to a revised gross-to-net accounting treatment for certain revenue streams from its recent acquisition of Medicx Health.
The mission of OptimizeRx is to empower the healthcare community through innovative, tech-enabled communication solutions that improve patient care. By connecting over 60% of U.S. healthcare providers and millions of patients through its digital point-of-care network, OptimizeRx continues to deliver significant value to patients, healthcare professionals, and investors.
For more information, visit www.optimizerx.com
OptimizeRx Corp. (Nasdaq: OPRX) announced that CEO Will Febbo will participate in a presentation and fireside chat at the Credit Suisse 30th Annual Healthcare Conference from November 8-11, 2021. The presentation is scheduled for November 11, 2021, at 11:20 A.M. (Track 2), and will be webcast live. OptimizeRx provides point-of-care technology solutions designed to improve patient therapy adherence by connecting healthcare providers and patients. For more details, visit the company’s investor relations page.
OptimizeRx Corp. (Nasdaq: OPRX) announced the appointment of Edward Stelmakh as the new chief financial officer (CFO) and chief operating officer (COO), effective October 11, 2021. He succeeds Doug Baker, who will remain as executive vice president of finance and accounting. Stelmakh brings over 30 years of experience in finance and operations, notably from Otsuka America Pharmaceuticals. CEO Will Febbo highlighted Stelmakh's expertise as crucial for the company's growth, particularly in enhancing customer relations and operational scalability amidst the healthcare industry's shift toward technology solutions.
OptimizeRx Corp. (NASDAQ: OPRX) is set to replace Lydall Inc. (NYSE: LDL) in the S&P SmallCap 600 index effective October 4, 2021. This change is occurring as Clearlake Capital Group is acquiring Lydall, with the deal expected to close around October 1. This addition marks a significant milestone for OptimizeRx, aligning it with a key financial benchmark, while Lydall will be removed from the index.
OptimizeRx Corp. (Nasdaq: OPRX) has launched a new Therapy Initiation Workflow aimed at enhancing patient access to specialty medications. This digital solution enables healthcare providers to streamline medical documentation, ensuring quicker enrollment and approval for treatments. The platform connects over 700,000 providers to pharmacies and payers, addressing significant delays caused by prior authorization processes. With 90% of physicians noting negative impacts of these delays on patient outcomes, OptimizeRx’s innovation aims to improve care delivery by reducing hurdles faced in medication fulfillment.
OptimizeRx Corp. has appointed Andrew D’Silva as senior vice president of corporate finance, effective September 8, 2021. D’Silva brings over 10 years of equity research experience and will focus on strategic growth and capital markets initiatives. He aims to enhance capital allocation strategies to drive further growth. OptimizeRx connects life sciences with healthcare providers to support patients in adhering to treatment plans. The company's digital health platform continues to expand its omnichannel network across key specialty therapeutic areas.
OptimizeRx Corp. (Nasdaq: OPRX) announced that CEO Will Febbo will present at the Lake Street Capital Markets BIG5 Conference on September 14-15, 2021, and at the Piper Sandler Heartland Summit on September 29-30, 2021. The BIG5 Conference focuses on public growth companies, providing direct access to senior management. The Heartland Summit gathers CEOs, policy-makers, and investors from the healthcare sector. OptimizeRx connects healthcare providers and patients through its digital health platform, facilitating medication affordability and patient engagement.
OptimizeRx (Nasdaq: OPRX) announced an exclusive partnership with Demandbase on August 17, 2021, to enhance digital engagement in healthcare.
This collaboration creates a comprehensive account-based experience platform, integrating direct-to-physician touchpoints. OptimizeRx will utilize Demandbase's B2B suite, expanding its digital reach across U.S. healthcare systems.
The partnership aims to personalize HCP engagement using behavioral data, potentially boosting revenue as life sciences shift towards digital strategies.
OptimizeRx Corp. (Nasdaq: OPRX) reported a significant 55% increase in revenue, reaching $13.6 million for Q2 2021, compared to $8.8 million in the same quarter last year. The company closed 19 enterprise contracts, expanding its pipeline from 46 to 63. Notably, the number of brands adopting its solutions surged from 80 to 140 in six months. The gross profit margin increased slightly to 59%, and net income turned positive at $0.4 million or $0.02 per share. Cash reserves stood at $83.9 million as of June 30, 2021.
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