Healthcare technology producer Allscripts has acquired ZappRx, a US-based online drug prescription service backed by corporates GlaxoSmithKline and Alphabet, for an undisclosed amount, CNBC has reported.
Two sources familiar with deal told CNBC the deal was sized at less than the $41m in funding ZappRx had said it had raised prior to the deal.
Founded in 2012, ZappRx operates a cloud-based prescription platform that helps patients, physicians and pharmacists modernise the process of ordering speciality drugs. The service reduces the paperwork associated with the process and allows physicians to more efficiently manage their patients’ treatments.
In a statement seen by CNBC, Allscripts said: “The addition of ZappRx’s team and technology will augment our solution offerings and provide great value to our clients.”
Qiming US Healthcare Fund, a vehicle manged by China-based venture capital group Qiming Venture Partners, led a $25m series B round for ZappRx in April 2017 that included GV and SR One, corporate venturing vehicles for internet and technology group Alphabet and pharmaceutical firm GlaxoSmithKline respectively.
The latter had initially led ZappRx’s $5.6m series A round in 2015, investing alongside VC firm Atlas Venture. The same two investors had already backed a $1m seed round for the company in 2014.