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 Mike Rousselle, its vice president of data product, has been named one of the 2022 PM360 ELITE 100 in the Data Miners category. Rousselle is recognized for his work in applying AI and ML in healthcare marketing, streamlining engagement with healthcare providers at the point-of-care. Steve Silvestro, CCO, highlighted Rousselle's role in driving innovation and efficiency in data solutions for life sciences clients. The PM360 ELITE Awards celebrate influential figures in healthcare, with 100 winners selected from over 500 nominations.
OptimizeRx Corp (Nasdaq: OPRX) has announced a share repurchase program authorized by its Board of Directors, allowing the company to buy back up to $20 million of its outstanding common stock. CEO Will Febbo indicated this decision reflects the company's commitment to disciplined capital allocation aimed at enhancing shareholder returns. The repurchase aims to strengthen shareholder value while ensuring sufficient working capital for future growth initiatives, including organic growth and potential M&A activities.
OptimizeRx (Nasdaq: OPRX) announced its participation in the RBC Healthcare Conference on May 17-18, 2022, and the B. Riley Annual Institutional Conference on May 25-26, 2022. The company will partake in a fireside chat at the RBC event on May 18 at 2:05 PM ET, and present at the B. Riley conference on May 26 at 9:30 AM PT. Management will also hold one-on-one meetings at both events. OptimizeRx is a leading provider of point-of-care technology that connects patients and healthcare providers to improve medication adherence.
OptimizeRx Corp. (Nasdaq: OPRX) reported Q1 2022 revenue of $13.7 million, a 22% increase YoY. Gross profit rose 32% to $8.1 million, with gross margins at 59%. Net loss was $3.8 million or $(0.21) per share. The company completed the acquisition of EvinceMed and maintains a strong cash position of $89.0 million. OPRX reaffirms its 2022 revenue outlook of $80 million to $85 million, targeting 31% to 39% growth. The firm is experiencing positive cash flow from operations with a focus on growth through expanding client engagement.
OptimizeRx Corp (Nasdaq: OPRX) announces a conference call on May 4, 2022, at 4:30 p.m. Eastern Time to discuss its first-quarter financial results for the period ending March 31, 2022. A press release with the financial results will precede the call. Participants can join by telephone or webcast, with a replay available for 12 months on the company’s website. OptimizeRx provides point-of-care technology solutions, connecting healthcare providers and patients to enhance medication adherence.
OptimizeRx has announced the acquisition of EvinceMed, enhancing its point-of-care technology solutions to improve access to specialty medications for patients. This strategic acquisition strengthens OptimizeRx's platform, which connects over 700,000 healthcare providers, enabling faster patient access to therapies through process automation. Specialty drugs, while only 2.2% of prescriptions, accounted for over 45% of pharmacy spending in 2019, highlighting a significant market opportunity. The integration aims to increase revenue growth in 2023 and improve workflows for healthcare providers.
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