Tesser Health has been acquired by ELMC Risk Solutions. ELMC announced that the Miami-based digital health company will become the Tesser Health division of ELMCRx Solutions.
Tesser Health was founded and led by CEO Riyaad Seecharan, CMO Ali Khoshnevis and CTO Humberto Lee. The Tesser Health management team will report to Mary Ann Carlisle, CEO of ELMCRx Solutions. Terms of the deal were not disclosed.
The Tesser Health division will continue to operate out of South Florida. Its office is in CIC Miami.
“We’re very fortunate to be in the Miami startup ecosystem, and are proud to be working on one of the biggest challenges in the United States – rising drug prices,” Seecharan, Khoshnevis and Lee said in a statement. “The ELMCRx Solutions platform enables us to reach a larger audience as well as round out our service offering.”
In 2016, Tesser Health, a startup focused on managing prescription drug costs, launched its proprietary digital health platform aimed at delivering cost containment solutions for self-funded employer health plans. Under ELMC, Tesser Health will maintain its focus on prescription drug cost containment and optimization for employer plans, as well as develop new products designed to manage and optimize specialty drugs, ELMC said.
The acquisition of Tesser Health will allow ELMC to further expand its cost containment and management offerings, with enhanced specialty and non-specialty solutions provided under our rebranded Tesser suite,” said ELMC CEO Richard Fleder, in the announcement last month. “These products combined with Tesser Health’s sophisticated analytics capabilities will allow us to deliver an innovative platform of smart, straightforward solutions to plan sponsors, carriers, TPAs, brokers and consultants.”
ELMC, based in New York, is a group of companies that deliver stop loss, reinsurance and risk consulting products across the nation.
Follow @ndahlberg on Twitter and email her at email@example.com
- How CarePredict, South Florida’s makers and entrepreneurship programs are stepping up - April 2, 2020
- Mozper raises $770K to launch debit card for kids - March 31, 2020
- South Florida’s 2019 was one for the VC history books - March 30, 2020