Pyx Health acquires Farmboxrx with a financing boost of $ 47.5 million

Pyx Health, a social health platform, acquired a healthy Farmboxrx food company, companies announced on Tuesday. The acquisition was fed by an investment of $ 47.5 million in S2G ​​Investments and TT Capital Partners.

Pyx Health, based in Tucson, Arizona, works with health plans to support members with loneliness. Members receive unlimited telephone calls for the company, as well as assistance with resources for physical, social and mental needs. They also have access to a mobile application that has an empathetic chatbot, self-guided well-being activities, interactive activities and reminders for drugs.

Farmboxrx, based in Boston, contracts with payers (mainly Medicaid and Medicare programs) to deliver products of products, kitchen kits, educational material and pantry at the doors of patients.

The terms of the agreement have not been disclosed. However, the acquisition of Farmboxrx will help Pyx to approach food insecurity, a challenge with which many members have trouble.

“By offering fresh food to our members, Pyx Health seeks to establish a significant and confident relationship. Research shows that members who trust the health system are more likely to engage in healthy habits, such as preventive care, which can improve their health results, “said Cindy Jordan, CEO and co-founder of Pyx Health, in an email. “These healthy habits can reduce the frequency of expensive and unnecessary visits to the emergency room at the bottom of the line – a winner -win for health plans and their members.”

Farmboxrx has also recently launched a platform called Drivers Health, which helps process social determinants of health and feeds data on the needs of members in health plans. This platform will be a “precious dory tail for our own current development of a continuous commitment platform compatible with AI and omnichannel members,” said Jordan.

Pyx Health was not the first company to offer to buy Farmboxrx, according to the CEO of Farmboxrx, Ashley Tyrner-Dolce. The company was created from the Tyrner-Dolce’s own experience based on food coupons and Medicaid, which made it particularly intentional to find the right partner to carry out the mission of the company: “authorize individuals to live their healthiest life by meeting the unattled social needs of their well-being,” she said.

“Over the years, I have received many offers to sell the business, but none seemed to be the right solution-until now,” she said in an email. “Pyx Health shares our mission at the base, making it the ideal organization to rely on the foundations that we have created.”

Tyrner-Dolce said that it would remain “closely involved” to support the acquisition, but that it will participate in an advisory role while Jordan will be CEO of the combined company. Tyrner-Dolce plans to continue to carry out food policy, she added.

By selling Farmboxrx to Pyx Health, Tyrner-Dolce’s objective is to extend its collective impact, she said.

“By combining the expertise of Farmboxrx in the fight against non -medical health engines – such as food insecurity – with the innovative approach of Pyx Health to fight against loneliness and the support of mental health, we will be able to achieve more people, to deepen the commitment of members and to drive stronger health, in particular among the vulnerable populations,” she said. “It is not only a question of scaling our scope; It is a question of expanding and improving the support we provide to approach the whole spectrum of social health engines. ”

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