Navitus Health Solutions, a full pass-through pharmacy benefit manager (PBM), today announced that Lumicera Health Services, its wholly-owned specialty pharmacy, has purchased a specialty pharmacy from CareMetx, a leading technology-enabled hub services company committed to improving patient access to specialty medications. The specialty pharmacy, CareMetx Health, located in Gaithersburg, Maryland, will allow Lumicera to better serve patients located in the eastern United States.
MJH Life Sciences™ announced Monday it has joined forces with Pharmacist Moms Group (PhMG™) and its annual #WomenPharmacistDay to enhance support of the group’s mission and pharmacy profession. The latest addition to the medical media company’s portfolio, which includes Pharmacy Times®, strengthens its leadership position in the pharmacy industry. Pharmacist Moms Group (PhMG™), the largest professional organization of women pharmacists in the United States, provides support, resources, education and a professional network for pharmacist moms.
The way people obtain their prescription drugs is changing. An industry traditionally dominated by brick-and-mortar pharmacies is slowly gravitating toward online home delivery with the help of a growing venture-backed ecosystem of e-pharmacies. Today, e-pharmacy drug distribution represents a relatively minuscule share of the prescription industry, some $170 million of a $300+ billion market for prescription drugs. However, the opportunity to grow market share for drug delivery is attracting significant VC.
UnitedHealth’s 2020 revenue jumped by $15 billion from the year before. As the payer gears up for 2021, leaders except to see demand for telehealth and online pharmacies continue, driving their focus on these services.
Advent International (“Advent”), one of the largest and most experienced global private equity investors, today announced that it has completed a recapitalization of RxBenefits, the employee benefits industry’s first and only technology-enabled pharmacy benefits optimizer (PBO), which values the company at approximately $1.1 billion. With this investment Advent joins Great Hill Partners (“Great Hill”), a leading growth-oriented private equity firm, which first invested in the company in 2016. Advent and Great Hill now each own equal stakes in RxBenefits, alongside a significant investment from the current management team.
Shields Health Solutions (Shields), the leading health system specialty pharmacy integrator, has joined forces with ExceleraRx Corp. (Excelera), a healthcare company that empowers integrated delivery networks, health systems, and academic medical centers to provide personalized, integrated care for patients with complex and chronic conditions focused on improving patient care. The combined company will now be able to reach and offer services to health systems across the U.S., spanning 43 states and 700+ hospitals.
AmerisourceBergen Corporation (NYSE: ABC) and Walgreens Boots Alliance, Inc. (Nasdaq: WBA) today announced strategic agreements under which AmerisourceBergen will acquire the majority of Walgreens Boots Alliance’s Alliance Healthcare businesses for approximately $6.5 billion, comprised of $6.275 billion in cash and 2 million shares of AmerisourceBergen common stock. AmerisourceBergen’s acquisition of Alliance Healthcare will provide even stronger support for pharmacies and pharmacists across the globe and integrated solutions for pharmaceutical manufacturers.
Centene Corporation (NYSE: CNC) announced December 30 that it has completed its acquisition of PANTHERx, one of the largest and fastest-growing specialty pharmacies in the United States specializing in orphan drugs and treating rare diseases.
Recognizing the need for independent pharmacists in Texas to band together and speak with one voice, Texas TrueCare, the legislative advocacy brand of PBA Health, is joining forces under the banner of the Texas Pharmacy Association’s Independent Pharmacy Academy for its legislative and regulatory advocacy activity. In June, TPA announced the launch of its Independent Pharmacy Academy in a bold move to strengthen and unite the voice of independent pharmacy in the Lone Star State. Since then, the Alliance of Independent Pharmacists of Texas and the Texas Independent Pharmacies Association have voted to unite with TPA and join the Academy.
Medicure Inc. (“Medicure” or the “Company”) (TSXV: MPH) (OTC: MCUJF), a cardiovascular pharmaceutical company, today announced that, through its wholly-owned U.S. subsidiary, Medicure Pharma Inc., it entered into a definitive agreement on December 15, 2020, to acquire 100% of Marley Drug, Inc (“Marley”), a leading specialty pharmacy serving more than 30,000 customers across the United States, from an arms-length third-party, for an upfront payment on closing of USD $6.3 million, subject to certain holdbacks, as well as additional payments based on future performance of Marley. Marley generated unaudited revenue and EBITDA of approximately USD $7.0 million and over USD $1.7 million for the 12-month period ended October 31, 2020, respectively.
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