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March 27, 2015 5:23 PM ET

Health Care Technology

Company Overview of HealthPrize Technologies LLC

Company Overview

HealthPrize Technologies LLC provides medication adherence solutions for patients. It offers HealthPrize Engagement Engine, a medication adherence platform and software solution that gathers daily compliance data from users, verifies their prescription refills, and rewards them for adherence. The company collects daily self-reporting through response to text or email messages, online via the HealthPrize dashboard, or via the HealthPrize mobile platform. Its solution combines financial incentives in loyalty points, weekly sweepstakes, and monthly competitions; and education, reminders, and fun. The company was founded in 2009 and is based in Norwalk, Connecticut.

50 Water Street

Norwalk, CT 06854

United States

Founded in 2009

Phone:

203-957-3401

Key Executives for HealthPrize Technologies LLC

Co-Founder, Chief Executive Officer and Director
Co-Founder, Chief Medical Officer and Director
Co-Founder and Advisor
Chief Product and Brand Officer
Head of Pharmaceuticals Division and Director
Compensation as of Fiscal Year 2014.

HealthPrize Technologies LLC Key Developments

HealthPrize Technologies Announces Board Appointments

HealthPrize Technologies announced the addition of Dieter Weinand and Dawn Owens to its Board of Directors. As President and CEO of Bayer Pharma AG, Dieter Weinand serves as a member of Bayer HealthCare's Executive Committee and is Head of its Pharmaceuticals Division. Prior to joining Bayer in August 2014, Weinand served as President of Global Commercialization & Portfolio Management for Otsuka Pharmaceutical Development & Commercialization Inc. Dawn Owens served as CEO of OptumHealth from 2007 through 2012.

Healthprize Technologies Announces Partnership with Connexions Loyalty to Improve Medication Adherence

HealthPrize Technologies announced an agreement with Connexions Loyalty that builds upon Connexions' rewards platform. The companies will partner to give pharmaceutical companies access to a wide array of benefits that can be used to reward and motivate patients to take their medication as prescribed. The partnership allows HealthPrize to expand its ability to offer benefits to pharmaceutical companies by greatly enhancing the end-user experience for patients through a richer and more diverse set of rewards. For Connexions, the partnership opens up new distribution channels for its rewards and incentives while continuing to demonstrate the powerful motivational impact of points-based rewards programs. HealthPrize runs programs for pharmaceutical brands treating a variety of health conditions. The platform has proven to boost adherence rates--the mean number of prescription fills per patient relative to the brand's baseline fill rate--by a factor of two for some conditions. HealthPrize is the only medication adherence company that offers verification of every prescription fill and it empowers pharmaceutical companies to reward patients who accumulate points for a variety of activities. These activities can include reporting their daily medication adherence or filling their prescriptions. Additional forms of engagement are also rewarded with points, including points for the completion of weekly educational quizzes and market research surveys as well as the enjoyment of daily health tips. Patients also compete in sweepstakes and leaderboard competitions. Points are redeemed in the Rewards Mall, which will be managed by Connexions.

West Pharmaceutical Services and HealthPrize Technologies Join Forces on Connected Health

West Pharmaceutical Services, Inc. and HealthPrize Technologies, LLC announced a strategic collaboration to integrate HealthPrize's Software-as-a-Service (SaaS) medication adherence and patient engagement platform with West's injectable drug delivery systems, to provide an end-to-end connected health solution to pharmaceutical companies and the patients they serve. The combined offering will provide electronically-connected drug delivery systems that track when patients take their medication, educate and engage patients to increase adherence and medical literacy, and reward them for compliance with their prescribed regimen. The HealthPrize platform leverages a combination of gamification, behavioral economic concepts, education and rewards to maximize motivational impact. Patients enrolled in HealthPrize programs demonstrate persistently high engagement rates and materially higher adherence rates, nearly 50% higher than baseline, on average. In collaboration with West, HealthPrize will also offer real-time verification of medication usage via wireless connection to West's drug delivery systems, including various biologics and other self-injected therapies. The companies, in providing a universal solution adaptable for all types of devices and data transfer systems for wireless communication, are also implementing additional data transfer technologies into the platform including smart labels, RFID/NFC and QR-code scanning. West intends to develop system technology that will allow both West drug delivery systems as well as existing drug delivery devices of other manufacturers to interface with the HealthPrize software.

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