Healthcare management and technology firm ClaimSecure has been acquired by Katz Group, which owns the retail pharmacy chain Rexall.
“The immediate goal behind joining forces will be to enhance the relationship that we have established with the Katz Group over recent years in pharmacy initiatives and programs,” said Peter Craig, CEO of ClaimSecure, in a statement.
Craig also said the two firms have plans to “unlock new opportunities, including expanding the breadth of services that we offer to our respective clients.” Among those opportunities include plans for enhancing ClaimSecure’s Web-based services and claims management capabilities, developing drug management solutions to minimize drug costs for Canadian businesses and developing a national preferred provider retail pharmacy network.
ClaimSecure said it will continue to operate as an independent entity following the transaction.
Steve Pong, vice-president of group solutions for Empire Life in Burlington, says the news is very positive. ClaimSecure is Empire Life’s pharmacy benefits manager. ”I congratulate them on the news,” he says. “The [acquisition] will potentially allow for greater investment in technology development and access to greater drug management expertise.”
Pong doesn’t expect any fundamental changes to the working relationship with ClaimSecure in the near future, but he does anticipate benefits from the new partnership in the long term.
As for whether or not he thinks a preferred pharmacy network is in the works, Pong says it’s too early to speculate. “Even if that was a future solution it may not be appropriate for Empire’s customers,” he says.