CoverMyMeds’ $1.1 billion exit is a big win for Ohio Third Frontier

Photo via covermymeds.com

Story excerpt provided by Columbus Business First.

Written by Carrie Ghose.

The coming $1.1 billion acquisition of CoverMyMeds LLC – Ohio’s first tech startup ” unicorn” – is a huge win for the Ohio Third Frontier program.

McKesson Corp., one of the three biggest U.S. health-care products distributors, announced Wednesday it would acquire the fast-growing Columbus software maker in a deal that could grow to $1.37 billion depending on its financial performance over the next two years…

“…This is another great example that Ohio grows billion-dollar companies,” said a statement from David Goodman, director of the Ohio Development Services Agency and chairman of the Third Frontier Commission. “This is Gov. (John) Kasich’s technology vision – that the success of companies like CoverMyMeds provides reinvestment opportunity so other startups can build the tech companies of tomorrow…”

Click here to read the complete article, and more on how the acquisition can reduce U.S. health care costs.

Originally published January 26, 2017.

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