The Fire Awards: Clarest Health LLC

Editor's note: Each year, DC Inno and the Washington Business Journal publish the Fire Awards spotlighting the founders, funders and fast-growing companies helping to power Greater Washington’s innovation economy. Click here to read our other profiles.

Clarest Health LLC has had an action-packed couple of years — and is looking to keep up its momentum to help even more patients stick with their medications.

The Vienna company, which aims to fill gaps in the post-acute pharmacy care space, is charging forward after snapping up Towson, Maryland’s Remedi SeniorCare for an undisclosed amount at the start of the year.

The deal gave the local firm technology and a customer portal that should help in its quest to improve health outcomes for an aging population, where “there are many gaps in providing the best medication care,” CEO Hammad Shah told us in January.

That transaction, its third acquisition in less than two years, tripled Clarest’s headcount and doubled its geographic presence to 40 states. It's on target for $850 million in revenue this year.

Clarest has been growing through M&A since 2022, when it acquired Tampa, Florida-based CSS Health, whose technology flags patients vulnerable to dropping medications, and Springfield, Missouri-based Integrity Pharmacy, whose service focused on patients living in their homes.

The company wants to help patients and caregivers when shifting from acute-care settings such as hospitals to senior living or skilled nursing facilities, or their homes. That involves helping those who struggle to adhere to treatment plans, like routinely taking medications.

The post-acute pharmacy space represents a potential $5.7 billion market opportunity, per one estimate. And the demand is substantial, especially for patients with multiple doctors prescribing different drugs.

Shah, who’s spearheading Clarest’s growth, has held posts at Bowie’s Inovalon Holdings and CVS Health pharmacy benefit management subsidiary Caremark. He previously started a U.S. pharmacy for German dialysis giant Fresenius Medical Care and, most recently, was CEO of SOC Telemed, a longtime local player in the telehealth arena.

Clarest Health LLC