Claritas Rx Receives Significant Growth Equity Investment from Questa Capital

Investment to Accelerate Expansion of Real-World Data Management and Analytics Solutions

March 9, 2021 8:00 AM EST

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SAN FRANCISCO, March 9, 2021 /PRNewswire/ -- Claritas Rx, the leading provider of data and analytics solutions covering specialty and rare disease patients, today announced the closing of a significant growth equity investment from Questa Capital, a venture growth equity firm focused on investing in expansion-stage healthcare companies. The funds will be used to enhance drug and patient analytics with innovative new products, accelerate sales & marketing, and expand the company's management team.

In today's complex specialty pharmaceutical networks, manufacturers must integrate channel, commercial and clinical data at scale to understand the real-world patient journey. The Claritas Rx data aggregation platform and aggregator-agnostic tools let commercial teams mine data more effectively to engage customers and support patients. With unique and proprietary analytic tools focused on the oncology and rare/orphan therapeutic areas, Claritas Rx brings a new level of insight and sophistication to how patients are managing compliance and how those drugs are performing on a real time basis.

"Claritas is illuminating the patient journey every day, revealing opportunities for our pharma clients and the broader specialty ecosystem to support patients in managing their chronic, life sustaining therapies.  This funding will allow us to invest in our existing client relationships, as well as accelerate product innovation, and expand our market reach. We are thrilled to have a partner like Questa with deep healthcare domain expertise and appreciation for our mission of using real world data to illuminate the patient journey," said Mike Fitzgibbons, Claritas Rx Founder and Chief Executive Officer.

"Specialty data aggregation and analytics is an incredibly complex process underserved by legacy and/or inadequate in-house solutions. With the large pipeline of new therapies to assist patients suffering from cancer or a rare disease, we believe Claritas Rx provides the industry a unique technology solution that serves as the epicenter for a client's brand and patient services teams.  Having studied this space for several years and tracked how Claritas Rx continued to innovate during that time, we are honored that Mike and his team chose us as the company's first institutional investor and are excited to build a market leader in the space," commented Brad Sloan, Co-Founder and Managing Partner at Questa Capital who has joined Claritas Rx's board of directors.

In connection with the investment, Claritas is adding two seasoned healthcare leaders to its board of directors as independent directors - Zackary King, former Founder and CEO of SHYFT Analytics, Inc. (acquired by Medidata Solutions), and Kurt Hilzinger, former President and CEO of AmeriSourceBergen and current Chairman of the Board for Humana. Both Messrs. King and Hilzinger will be actively engaged with the company and Questa in accelerating the company's growth and market position.

About Claritas Rx

Based in South San Francisco, CA, Claritas Rx is a technology company focused on managing real world data focused on specialty biopharmaceutical distribution channels in oncology and rare/orphan diseases. Since 2012 the company has illuminated brand performance and the patient journey for dozens of therapies, leveraging a proprietary cloud-based platform to harvest valuable insights from specialty channels and other market data for numerous customers including four of the top 10 global pharmaceutical companies.  

By integrating complex data across specialty pharmacies, hubs, copay cards and other sources, and using deep biotech domain experience, Claritas Rx creates actionable business intelligence that helps manufacturers more effectively go to market and enhance the patient experience. The insight into commercial performance drivers enabled by the company's platform uncovers daily opportunities for manufacturers and distribution partners to more effectively support patients with innovative specialty therapies. For more information visit www.claritasrx.com.

About Questa Capital

Questa Capital is a venture growth equity firm focusing on investments in expansion-stage healthcare companies. Questa seeks out disruptive, technology-enabled business models that help improve patient lives, streamline market inefficiencies, and provide better quality care. The firm partners with superior management teams to help build innovative market leaders in the healthcare technology, services and medical devices sectors. Questa is led by industry veterans in healthcare investment and operations who have invested in and advised more than 50 growth-stage companies. More information is available at www.questacapital.com.

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SOURCE Claritas Rx



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