Online health insurance provider eHealth, Inc. announced that it has acquired privately-held PlanPrescriber, Inc. for $28.7 million in cash. Mountain View, CA-based eHealth, the parent company of eHealthInsurance.com, and eHealthMedicare.com, said the purchase price does not include transaction expenses, bonus plan payments and other employee-related deductions.
Maynard, MA-based PlanPrescriber, formerly known as Experion Systems, Inc., provides online and pharmacy-based tools to help seniors select Medicare plans.
PlanPrescriber is now a wholly-owned subsidiary of eHealth, Inc. PlanPrescriber CEO Ross Blair will manage the subsidiary.
PlanPrescriber has developed a proprietary comparison and shopping platform for Medicare-eligible seniors, allowing them to compare Medicare prescriptions drug plans and Medicare Advantage health plans from all providers nationwide.
The Web site enables seniors to model expected costs among competing plans based on the specific medications they take. Seniors enter their Zip Code, Medicare status, and prescription drug requirements, and PlanPrescriber provides them with plan options and estimated annual savings.
"The PlanPrescriber acquisition is highly strategic and a great example of what we are looking for in an acquisition partner," said eHealth President/CEO Gary Lauer. "PlanPrescriber will help accelerate our penetration of the large and expanding senior market."