Dallas-based ACS (NYSE: ACS) did not disclose the amount the company paid to purchase Philadelphia-based Pharm/DUR Inc. ACS said the acquisition will add to ACS’s pharmacy audit and verification business, which the company began five years ago with the acquisition of Heritage Information Systems.
Pharm/DUR audit platforms help private and public health systems check on and report any account discrepancies, overpayments or fraudulent activities that occur during transactions at various pharmacies.
In a statement Wednesday, Christopher T. Deelsnyder, senior vice president and managing director of ACS Government Healthcare Solutions, said Pharm/DUR’s employees will be unaffected by the acquisition.
Pharm/DUR brings proprietary assets to the table including AUDITrack, which is used to discover potential errors in pharmaceutical transactions.
For the 12-month period ending in April, Pharm/DUR posted revenue of $6 million.
The Shareholders of Pharm/Dur wrote:
“Dear Mark,
I wanted to write to you to thank you for the transaction you completed for both Ron and me.
Right from the start, you told us how the process would work and what we needed to prepare for each stage. You were there by our sides all the way and even when you ended up in the hospital for a week we knew you were still taking calls on our transaction. You attended every meeting in each of the phases and prepared us for what the next stage would be, whilst a business sale is never easy, I don’t believe we would have completed a sale without your help and personal attention. We were unfortunate to not sell to the first purchaser we went into exclusivity with and you were incredibly patient with us during this phase. Your determination to progress the sale process and commitment to a positive outcome delivered a different acquirer who went on to pay a significantly higher price.
Ron and I were incredibly thankful for all the work you did for us in achieving the price we eventually sold the business for. We have been able to do all the things we had dreamed of and have felt incredibly liberated by the sale. Thank you for all your hard work and we have no hesitation in recommending you personally, or acting as a referee, now and in the future.
We wish you all the best for the future.
Tony Spa”
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