SECURITIES AND EXCHANGE COMMISSION
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SECURITIES EXCHANGE ACT OF 1934
Report (Date of Earliest Event Reported): August
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25501 West Valley Parkway, Suite 300
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ITEM 8.01 OTHER EVENTS
On August 1, 2018, NIC Inc. (the “Company”) issued a press release announcing the launch of RxGov, a comprehensive prescription drug monitoring program (PDMP) technology platform to help government combat the opioid epidemic. The platform is driven by the Company’s acquisition of the RxOrbit suite of technology assets from Leap Orbit, a privately held, Maryland-based company with extensive healthcare IT expertise in health information exchanges, clinical decision support, and state and federal government markets. A copy of the press release is furnished with this report on Form 8-K as Exhibit 99.1, and is incorporated by reference herein.
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
|Date:||August 1, 2018||
/s/ Stephen M. Kovzan
Stephen M. Kovzan
Chief Financial Officer
- 3 -
NIC Launches RxGov, a Best-in-Class Technology Choice for Government to Combat the Opioid Epidemic
Company acquires software assets to add to its prescription drug monitoring expertise
OLATHE, Kan.--(BUSINESS WIRE)--August 1, 2018--NIC Inc. (Nasdaq: EGOV), the dominant provider of digital government services, today announced the launch of RxGov, a comprehensive prescription drug monitoring program (PDMP) technology platform to help government combat the opioid epidemic. The platform is driven by the Company’s acquisition of the RxOrbit suite of technology assets from Leap Orbit, a privately held, Maryland-based company with extensive healthcare IT expertise in health information exchanges, clinical decision support, and state and federal government markets.
“We are pleased to introduce RxGov to the market,” said Harry Herington, NIC Chief Executive Officer and Chairman of the Board. “This solution leverages the best of the PDMP systems NIC currently manages, plus the unique, cutting-edge functionality of the technology we acquired. This best-in-class solution brings choice, flexibility, and affordability to government officials responsible for prescription drug monitoring programs.”
Prescription drug monitoring programs are used in nearly every state in the United States to track the prescribing, dispensing, and use of prescribed controlled opioids such as hydrocodone and oxycodone. Every day in the United States, nearly 50 people die from an overdose involving prescription opioids. Emerging research suggests that PDMPs are associated with a reduction in the rate of controlled substance prescribing.
The RxGov PDMP platform includes a variety of industry-leading benefits and features, including:
“When we developed RxOrbit, we knew PDMP technology could be better,” said Mrinal Bhasker, partner of Leap Orbit. “The acquisition of RxOrbit by NIC to form RxGov is an exciting step towards our vision of delivering PDMP data to all policymakers and clinicians where and when they need it to make informed decisions. We look forward to seeing NIC build upon this vision and bring a best-in-class solution to an industry that needs it. This is a critical component in combating the opioid epidemic in the U.S.”
Leap Orbit’s technology has been operating as part of a pilot program since 2017 with the state of Maryland. NIC has been managing PDMP solutions since 2011, and launched its flagship, comprehensive ePDMP system in the state of Wisconsin in 2017. This acquisition is a purchase of assets only by NIC, and no Leap Orbit employees will be joining the Company. However, as part of the purchase agreement, NIC will have an ongoing strategic relationship with Leap Orbit to actively collaborate on future business development efforts and the product roadmap for RxGov. The Company will further discuss the asset acquisition during NIC’s Q2 2018 earnings announcement scheduled for 4:30pm EDT, today, Wed., August 1. The webcast will be available at http://www.egov.com/investor-relations.
NIC Inc. (Nasdaq: EGOV) is the nation’s premier provider of innovative digital government solutions and secure payment processing, which help make government interactions more accessible for everyone through technology. The family of NIC companies has developed a library of more than 13,000 digital government services for more than 5,500 federal, state, and local government agencies. Among these solutions is the ground-breaking personal assistant for government, Gov2Go, delivering citizens personalized reminders and a single access point for government interactions. More information is available at www.egov.com.
About Leap Orbit
Leap Orbit assists healthcare institutions in developing and implementing technology to transform the way care is delivered and paid for. The Leap Orbit team has been engaged with trend-setters and policymakers at the national level and across the states to shape the technology that drives the healthcare industry. The firm’s work at the industry’s cutting edge fuels its innovative product development model, bringing solutions to healthcare’s thorniest challenges. More information is available at www.leaporbit.com.
Angela Davied, 913-754-7054