Spurrier Capital Partners is pleased to announce our role as the exclusive financial advisor to Remedy Analytics in its sale to Brown & Brown Insurance. Remedy is a unique tech-enabled data analytics company that delivers data-driven pharmacy benefits insights to self-funded employers. Its clients include Fortune 500 companies, small and mid-size employers, state and local governments, Taft-Hartley plans and health systems.
Founded in 2011 by Scott Martin, Remedy’s proprietary data platform, PharmaLogic®, algorithmically models complex Rx-pricing contracts to uncover the true cost and utilization rates of prescription medications to drive meaningful prescription benefits cost savings for its clients.
Within Brown & Brown, Remedy’s market-leading solutions will continue to drive incredible value to employers of all sizes while access to Brown & Brown’s resources and product offerings will enable the business to deliver even more value to its clients.
“Having built Remedy from the ground up without institutional funding, it was essential to find the right partner for the business”, said Scott Martin, CEO & Founder of Remedy Analytics. “SCP’s hands-on approach, deep knowledge of the market and steadfast commitment throughout the process was instrumental to our success in finding the best home for Remedy and our entire team.”
Current Chief Operating Officer and new business leader of Remedy under Brown & Brown, Jennifer Hill, noted, “SCP’s support throughout the entire process was immeasurable. The entire SCP team guided us through every facet of the transaction by rolling up their sleeves and working side-by-side with our team through the entire process. I am looking forward to leading the Company in its mission to make prescription benefits more affordable and accessible for self-insured payors and patients. Brown & Brown’s resources will provide Remedy significant opportunities to accelerate growth.”
“The market for pharmacy benefits is ripe for disruption through the use of technology,” added Derek Ritchea, Head of Healthcare Technology Investment Banking at Spurrier Capital Partners. “As the leading provider of technology-enabled pharmacy benefits solutions for employers, Remedy Analytics will enhance Brown & Brown’s position in the employer market and their partnership will enable even more clients to drive meaningful Rx savings. We are very excited for Scott, Jennifer and the entire Remedy team as they join Brown & Brown on the next step in their journey.”
“We are incredibly proud to have advised another bootstrapped, founder-led client to a successful outcome”, added Clark Spurrier, Founder and CEO of Spurrier Capital Partners. “We are very eager to follow Remedy’s process as it embarks on its new partnership with such an amazing organization like Brown & Brown.”
SCP Experience in Healthcare Technology and HCM Software