New York, NY (Nov 18, 2019) – ELMC Risk Solutions, LLC, (“ELMC”) is pleased to announce that it has acquired the assets of Tesser Health Inc. (“Tesser Health”), of Miami, Florida, and has established the Tesser Health division of ELMCRx Solutions, LLC. Tesser Health is a technology driven, digital health company focused on managing prescription drug costs. This acquisition furthers ELMC’s strategic expansion through thoughtful acquisitions in the Pharmaceutical Benefit Management, Rx management, and analytics space. The Tesser Health division will join ELMCRx Solutions in delivering state of the art outcomes by leveraging a broad range of cost containment, analytics, and consulting services. Tesser Health joins ELMC’s portfolio companies including AST Risk, ELMCRx Solutions, IOA Re, Rockport Benefits, RxReins, and Sequoia Reinsurance.
Tesser Health is led by CEO Riyaad Seecharan, CMO Ali Khoshnevis and CTO Humberto Lee, experienced digital health professionals and successful entrepreneurs. All three contributed to the growth of other innovative prescription drug companies before focusing their attention on building the Tesser Health platform. The Tesser Health management team will report to Mary Ann Carlisle, CEO of ELMCRx Solutions.
“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 Richard Fleder, CEO of ELMC. “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.” Mary Ann Carlisle, CEO of ELMCRx Solutions noted, “We are excited to leverage the Tesser Health team and the digital health platform to further develop the ELMCRx Solutions Clinical Prior Authorization service offering.
Seecharan, Khoshnevis and Lee agree, “We are pleased to combine our strengths with ELMCRx Solutions to meet the demands of the rapidly-changing pharmaceutical marketplace. The ELMCRx Solutions platform enables us to reach a larger audience as well as round out our service offering.”
Tesser Health started its pharmaceutical cost containment business for self-funded employer health plans in 2016 with the launch of its highly regarded digital health platform. Tesser Health will maintain its focus on prescription drug cost containment and optimization for employer plans, as well as developing new products designed to manage and optimize specialty drugs. The company will maintain their offices in Miami, Florida.
ELMC owns, manages and seeks to acquire premier Managing General Underwriters and Pharmaceutical Benefit Management service companies across the nation that specialize in delivering services for self-funded health plans, health care coalitions, labor and union groups, as well as reinsurance for providers and managed care companies. ELMC provides a best-in-class platform for delivering solutions to brokers, carriers and clients.
For more information, visit elmcgroup.com/elmcrx.
About Tesser Health
Tesser Health is a digital health platform focused on delivering cost containment solutions for self-funded employer health plans. The company’s proprietary digital health platform analyzes claims data to determine member adherence, polypharmacy, and cost savings opportunities. Using a unique combination of analytics and engagement tools, the Tesser Health platform lowers prescription drug spend for plan sponsors.
For more information, visit www.tesserhealth.com.