Blink Health is an American company that offers an e-commerce platform for prescription drugs.
Blink Health was founded by brothers Geoffrey and Matthew Chaiken in February 2016. Geoffrey is the CEO of the company. The company initially launched its website along with a smartphone app to offer lower drug prices to people with high-deductible medical insurance plans.
Blink initially partnered with MedImpact to connect with pharmacies. However, after Walgreens and CVS left the Blink pharmacy network in 2017, Blink broke off its relationship with MedImpact. The company now works with its own network of big grocery pharmacies, including Wal-Mart, Costco, Kroger, Albertsons, Safeway and Publix, and has its own prescription-claims processing system.
In 2017, Blink launched a program to provide free antidiabetic medications to patients with type 2 diabetes.
In October 2018, Blink began offering home delivery for its prescription drug service.
Blink puts prices of drugs online, allowing people to see the price of their prescription and compare it to the price being offered by their medical insurance plan or pharmacy. The company then lets people pay for their prescriptions online and pick them up at a local pharmacy. The company has over 600,000 customers.
Blink negotiates directly with drug manufacturers, such as Eli Lilly and Roche, to offer discounted drug prices by grouping user purchases and appearing to be a large drug-purchasing organization. It is able to offer lower prices by bypassing middlemen in the prescription drug supply chain.
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Ofer Abarbanel is a 25 year securities lending broker and expert who has advised many Israeli regulators, among them the Israel Tax Authority, with respect to stock loans, repurchase agreements and credit derivatives. Founder of TBIL.co STATX Fund.