SYS-CON MEDIA Authors: Liz McMillan, Sean Houghton, Glenn Rossman, Ignacio M. Llorente, Xenia von Wedel

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RxREVU Closes Initial Financing

Announcement Made at StartUp Health Healthcare Transformer Summit and Showcase

NEW YORK, April 8, 2014 /PRNewswire-iReach/ -- RxREVU, a Denver-based startup and member of the StartUp Health Academy, announced the closing of seed-round financing. "We are pleased that we not only closed our round, but that we were well over-subscribed," says Carm Huntress, CEO of RxREVU. "This is great validation of the changes happening in digital health, and how our business model, team and execution strategy fit within the new healthcare paradigm based on value rather than volume."

"We are fortunate to have very experienced digital health and technology investors as part of this round, which really speaks to the strength of our company and our offering at this early stage. This funding will go directly toward growing our customer base and improving our prescription optimization platform, which delivers concrete savings to both patients and payers. We believe the path to realizing lower costs and delivering true value-based healthcare is by providing data, with medication price and efficacy data together, to help people make more informed decisions," said Huntress.

"By empowering consumers and their providers with cost and quality data on prescription drugs, we believe we can significantly reduce the estimated $150 billion in annual overspending on pharmaceuticals. Our goal is to help make sure every penny spent on medications is done so effectively. The era of writing endless prescriptions and letting the rest take care of itself is over. Patients and physicians need better tools to drive engagement and make decisions with cost and quality easier to understand."

RxREVU recently announced entry into StartUp Health Academy, a global startup platform, program and accelerator for health and wellness innovation. Involvement with StartUp Health Academy has already been instrumental to the company's growth. "Our entry into StartUp Health Academy has helped to accelerate our business. We are excited to participate in this week's Summit in New York with many of the amazing companies participating in the digital health revolution," said Huntress.

Huntress and RxREVU will be taking part in the StartUp Health Healthcare Transformer Summit and Showcase April 8th and 9th this week in New York City with multiple StartUp Health companies, investors and digital health experts.

About RxREVU: Denver based RxREVU, Inc. helps patients and payers lower drugs costs with an innovative medication cost/quality optimization dataset. Their medication savings dataset is available to healthcare applications such as transparency portals, insurance companies and consumer mobile applications. Visit www.RxREVU.com to learn more about the company.

About StartUp Health: StartUp Health, a global startup platform to accelerate health and wellness innovation, represents a new model for helping entrepreneurs succeed in the health sector. StartUp Health is on a mission to inspire, educate, and provide access for 1,000 digital health startups to reimagine and transform healthcare by 2020. The StartUp Health platform includes the StartUp Health Academy, the StartUp Health Network and the StartUp Health Innovation Fund. StartUp Health was founded by health tech entrepreneurs Steven Krein and Unity Stoakes and is chaired by former Time Warner CEO, Jerry Levin. The organization's investors include leading health, technology, and business minds: Mark Cuban, Esther Dyson, Roger Ehrenberg, Brad Feld, Richard Forman, Jason Finger, Linda Holliday, Jon Kaplan, Howard Krein, MD, PhD, Jon Miller, Jeff Stewart and Wayne Kimmel. Learn more and apply at startuphealth.com and follow @startuphealth.

Media Contact: Nate DiNiro, VivaPhi, 5034499943, [email protected]

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SOURCE RxREVU

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