Overview of the Acquisition
Pyx Health, a company dedicated to addressing loneliness and social isolation in healthcare, has acquired FarmboxRx, a tech-enabled food delivery service. This acquisition aims to enhance their combined efforts in tackling food insecurity and improving health outcomes.
About Pyx Health
- Based in Arizona, Pyx Health provides a mentor-driven care navigation platform.
- Focuses on non-medical issues such as loneliness and support needs for vulnerable populations.
- Offers services including research navigation, care coordination, and virtual care support.
- Collaborates with Medicaid, Medicare, managed care organizations, and community health plans.
About FarmboxRx
- Partners with healthcare providers to deliver fresh produce and pantry essentials to Medicare and Medicaid members.
- Offers healthy cooking kits through insurance and member benefits.
Investment and Future Goals
The acquisition was facilitated by a $47.5 million investment from S2G Investments in partnership with TT Capital Partners. The combined platforms are expected to:
- Address food insecurity among members.
- Encourage health plans to incentivize behaviors like completing health assessments and scheduling preventive care visits.
Statements from Leadership
Ashley Tyrner-Dolce, CEO and founder of FarmboxRx, expressed her commitment to closing healthcare gaps stemming from unmet social needs, stating:
“Somebody’s zip code or income should never determine the status of their health, but too often it does.”
Recent Initiatives by FarmboxRx
- Launched the Drivers Health platform in March to address healthcare needs across social continuums.
- Introduced a Maternal Health Program last year to provide food and nutrition education to at-risk pregnant women.
- In 2023, launched Feed by FarmboxRx, an app-based program for individuals affected by cuts to SNAP benefits.
Conclusion
The merger of Pyx Health and FarmboxRx represents a significant step towards enhancing member engagement and addressing critical social determinants of health. By integrating food solutions into healthcare, both companies aim to foster deeper relationships and improve health outcomes for vulnerable populations.