SAN DIEGO, Calif. – September 2, 2014 – Millennium Laboratories has changed its name to Millennium Health, a move that better reflects the company’s market position as a broad health solutions company. Through expanded product and service offerings, a robust research and development program, and the acquisition earlier this year of RxAnte, Millennium Health is a leading provider of accurate, timely, clinically actionable information to help tailor patient care. The company is focused on providing clinical tools and solutions to help payers, health care providers, and their patients to cost-effectively optimize medication use.
“The nation spends about $300 billion dollars annually on prescription medications and an additional $300 billion paying for the consequences of improper and ineffective medication use. The high cost – in dollars and in loss of human life – due to misuse and abuse of medications is one of the biggest health care issues we face as a country,” said Millennium Health Chief Executive Officer Brock Hardaway. “Clinicians need effective tools and our comprehensive portfolio of products and services can play a vital role in appropriate, effective and safe prescribing to optimize medications and improve patient health.”
Since its founding in 2007, Millennium Health’s core business has been—and remains today—laboratory-developed tests that help health care professionals manage and monitor patients’ use of medications, Hardaway said. But the San Diego-based company has always been more than a laboratory, and, through its expanding portfolio, including the acquisition earlier this year of RxAnte, and its advanced analytics products, the company now offers a more comprehensive approach for customers.
“We needed our brand to better reflect our breadth of services and our mission to address the need to help inform the right treatment decisions at the right time for patients,” Hardaway said. “We are redefining our company to better reflect where we are currently and where we see ourselves in the future.’’
As part of executing on its growth plan, Millennium Health announced three changes to its executive leadership team: Josh Benner, former president of RxAnte, has been named executive vice president of corporate strategy for Millennium Health; Lisa Hellman Rhodes, formerly a vice president, has been named chief people officer for Millennium Health; and Aaron McKethan, formerly senior vice president for strategy and business development for RxAnte, is the new president of that subsidiary, assuming Benner’s previous role.
Millennium Health has achieved impressive growth and continues to expand its product offerings, which help clinicians optimize medication use for patients with complex diseases and conditions. The company’s technology-based health solutions include advanced analytics that help predict patients’ adherence to their prescribed medications, pharmacogenetic testing to help determine patients’ response to medications, and accurate urine drug testing for medication monitoring and management.
“Millennium Health believes that everyone has the right to safe and effective treatment,” Hardaway said. “We believe in a personalized approach to patient care and aim to deliver on that idea by providing accurate, timely, clinically actionable information.”
The company’s decision to change its name also reflects the reality of a changing health care environment, Hardaway said. “We have a strong future and we will continue to innovate to meet the changing needs of our health care partners as we collaborate to address cost issues and improve health outcomes for patients.”