Foley & Lardner LLP served as legal advisor to Vivor, a cloud-based financial assistance technology platform for health care providers and life sciences, in its acquisition by TailorMed, a leading end-to-end financial navigation solution for health care organizations and patients.
The acquisition creates the largest network of provider, pharmacy, and life sciences companies in the market, allowing the combined companies to offer the most comprehensive solution to address the financial challenges and pressures faced by patients and health care organizations. With their combined platform and network, TailorMed and Vivor will be able to more quickly develop innovative, cutting-edge solutions to reduce treatment costs for patients while improving health care organizations’ financial performance.
Founded in 2014, Vivor’s platform helps improve the lives of patients affected by expensive diseases like cancer by automating the process of identifying, securing, and utilizing financial assistance programs to reduce patient debt and eliminate out-of-pocket costs as a barrier to care. Vivor is the only enterprise-grade financial assistance platform that offers broad coverage across specialty drugs and diseases, real-time, personalized matches, and fund re-open alerts. The platform integrates with all major electronic health record systems, allowing for enhanced enrollment and task management and powerful reporting. Vivor has helped provider organizations increase revenue by maximizing the use of financial assistance programs, including uncovering additional payers for underinsured patients on high-cost therapies.
TailorMed’s platform automates the entire process of proactively identifying financially at-risk patients, matching, and enrolling them in financial resources. The companies collectively partner with 900 health care facilities and have secured more than $1 billion in funding for patients from more than 5,000 funding programs for over 1,000 chronic conditions.
The Foley deal team was led by Partner Chris Cain and included Associates Arthur Vorbrodt and Zoe Uvin.
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