Columbus Start-Up CoverMyMeds To Sell For $1.1 Billion
One of the newer additions to the Columbus skyline is being acquired by a San Francisco corporation for $1.1 billion.
Software maker CoverMyMeds opened its downtown Columbus headquarters three years ago. Now it's being purchased by the San Francisco health distribution corporation McKesson.
That's the same company that bought the Dublin-based health IT company HTP in 2008.
CoverMyMeds has been seen as a crown jewel of the Columbus start-up community. The company makes software that automates the prior authorization process used by many insurance companies, helping speed up the prescription-filling process.
It was started in 2008 with $250,000 in venture capital.
A McKesson press release says the acquisition of CoverMyMeds will "strengthen our technology offerings."