Seattle-based consulting firm Milliman said Tuesday it has acquired SkySail Rx, a pharmacy benefit tech firm based near Cleveland.
SkySail's technology analyzes pharmacy data to help with functions like claim summarization and repricing. With the acquisition, Milliman aims to boost its tools for managing pharmacy benefits, the company said in a release.
"Milliman is already the leading expert in pharmacy benefits and pharmacy data management. The addition of SkySail gives us an advanced analytic platform to support the ever-evolving needs of our clients," Tom Snook, Milliman's global health practice director, said in a statement.
On SkySail's website, the subsidiary is now listed as Milliman SkySail. The companies didn't disclose the financial terms of the deal.
A Milliman spokesperson said SkySail has 20 employees and the 6-year-old Ohio company will operate as a standalone practice under Milliman, which has 4,200 employees globally.
Milliman, founded in 1947, offers consulting in health care, insurance and employee benefits. The company has offices throughout the U.S., as well as the Middle East, Latin America, Europe, Africa and Asia. Its Seattle office is downtown near the intersection of Fifth Avenue and University Street.
In March, Milliman acquired McHugh Consulting Resources, a consulting firm based in Doylestown, Pennsylvania.
According to SkySail, its data analytics technology helps with underwriting and bidding accuracy, improves sales and reduces risk. The Milliman spokesperson added that Milliman's size will help grow the reach of SkySail's technology.
"Pharmacy industry stakeholders are constantly looking for ways to reduce costs, ensure compliance and be more efficient," Chuck Gamsu, SkySail principal, said in a statement.
