ROCHESTER — OptimizeRx Corp. (OTCQB:OPRX), the Rochester-based provider of digital health messaging for the pharmaceutical industry, has partnered with Patient Connect, a Guildford, England-based provider of digital patient support and engagement, to deliver real-time messaging at point-of-care across Europe.
The company also announced a 1-for-3 reverse stock split in connection with the company’s objective of listing its stock on the Nasdaq national market.
On the connection with the UK firm, OptimizeRx CEO William Febbo said: “Our strategic alliance with Patient Connect has the potential to expand distribution of OptimizeRx’s digital health messaging for clients to millions of healthcare professionals and patients through Patient Connect’s international pharmacy and electronic health records networks. In addition, Patient Connect’s European clients will now have the opportunity to take advantage of OptimizeRx’s premier EHR network services in the U.S.”
Patient Connect reaches some 450 million patients through its global pharmacy network partners that provide coverage of 50 percent or more of all dispensed retail prescriptions in key markets.
“OptimizeRx clients will now have the ability to deliver highly targeted, digital health messages at pharmacy counters around the globe and gain valuable patient insights from pharmacy data,” said Dr. Grace Lomax, co-founder of Patient Connect. “OptimizeRx can benefit from Patient Connect’s robust multi-country EHR-physician network in key European markets, which extends their digital messaging reach in this important audience.”
Patient Connect is an international company specializing in patient support and engagement via digital messaging in pharmacy and physician offices. Through the pharmacy channel, it drives measurably improved patient adherence, support adjunctive therapy, facilitate patient choice, contribute to real world evidence through primary research and match patients to clinical studies or support programs.
OptimizeRx also announced it had conducted a 1-for-3 reverse split of its common stock Monday.
The stock will begin trading on a post-split basis under the symbol “OPRXD.” After 20 business days, the stock will return to trading under the symbol “OPRX.”
“As we announced in our first quarter 2018 results press release, we expect this reverse split to allow our stock price to meet the listing requirements for The Nasdaq Capital Market,” Febbo said. “We believe a Nasdaq listing will help broaden our shareholder base by increasing our appeal to retail and institutional investors. We also expect it to provide our investors with greater liquidity and ultimately enhance shareholder value.”
As a result of the split, every three shares of issued and outstanding common stock will be exchanged for one share of common stock. Each stockholder’s percentage ownership interest in OptimizeRx and proportional voting power will remain unchanged, and the rights and privileges as the holders of the common stock will be unaffected.
The reverse stock split will reduce the number of shares of issued and outstanding common stock from 34,636,811 pre-split to approximately 11,546,000 post-split. Proportional adjustments will be made to any outstanding warrants or options.
Before the listing of the common stock on The Nasdaq Capital Market can occur, Nasdaq will need to approve the company’s application for listing and there can be no assurance the application will be approved.
OptimizeRx provides digital health messaging via electronic health records, providing a direct channel for pharma companies to communicate with healthcare providers. The company’s cloud-based solution supports patient adherence to medications by providing real-time access to financial assistance, prior authorization, education, and critical clinical information. The company’s network is comprised of leading EHR platforms like Allscripts, Amazing Charts and Quest, and provides more than half of the ambulatory patient market with access to these benefits within their workflow at the point-of-care. For more information, follow the company on Twitter, LinkedIn or visit www.optimizerx.com.