At least a dozen startups are trying to disrupt a $465 billion U.S. industry, in which sales are largely concentrated among 15 big pharmacies, led by CVS Health Corp. and Walgreens Boots Alliance Inc., according to researcher Drug Channels Institute. Amazon.com Inc. gave the emerging sector a vote of confidence with its 2018 acquisition of PillPack, which delivers prescription drugs in packets sorted by when they’re meant to be taken. The $753 million deal was a springboard that helped Amazon build a broader digital pharmacy business. Three closely watched startups, Alto, Capsule, and Medly, have together raised more than $650 million since January 2020.
BioMatrix Specialty Pharmacy announced Tuesday the acquisition of InfuCare LTD, in Tyler, Texas. This infusion focused specialty pharmacy adds a brick-and-mortar location in a key geographic area, expands the organization’s national footprint, and provides access to additional covered lives in one of the nation’s largest states. The acquisition is the latest of several transactions that have positioned BioMatrix as one of the largest privately held specialty pharmacies in the United States.
Michigan based Lifeboost, Inc. and Pennsylvania based Pharmacy Valeda Rx (a Vivaleas company), finalized a merger on June 3, 2021, to form Perigon Health 360TM, LLC. This new entity will include three divisions: Tespo Vitamins, Baritastic, and Perigon Pharmacy 360 (formerly known as Valeda Rx). Valeda Rx is licensed to serve all 50 states and the District of Columbia. and is dual accredited with both URAC & ACHC.
Pharmacy automation provider Parata Systems, a portfolio company of Frazier Healthcare Partners, announced Tuesday the acquisition of Synergy Medical, a privately-held company that develops automation technologies to prepare and dispense solid oral medications in blister cards. This acquisition expands Parata’s offering of innovative pharmacy automation technologies to further meet the needs of retail, hospital, long-term care, government and direct-to-home pharmacies.
Medly Pharmacy announced Wednesday that it recently entered into a definitive agreement to acquire the pharmacy chain Pharmaca. The acquisition is expected to close in the third quarter of 2021 and is subject to customary closing conditions. For nearly 20 years, Pharmaca has operated 28 stores, offering a combination of wellness products including supplements, vitamins, and over-the-counter medications, health services, and dispensing prescription medications.
Aldine is pleased to announce an investment in AmPharm. AmPharm is an institutional Long Term Care pharmacy that provides a full suite of pharmaceutical offerings, including specialized packaging and IV services. Aldine is also pleased to announce an investment in New Age Medical (“NAM”). NAM is a leading value-added distributor of spinal implants and orthopedic products to hospitals, health systems and ambulatory surgical centers in the Midwest and Southeast.
Five Blue Cross Blue Shield plans have launched a new for-profit pharmacy solutions company to combat drug costs, which comprise an ever-growing share of their budgets, the insurers announced today. The Denver-based company, called Evio, will use data from the plans’ more than 20 million members across the U.S. to collect real-world evidence into how drugs actually perform, especially across specific patient types and with certain comorbidities. One of the goals is to get drugmakers to agree to outcomes-based contracts, where the plans pay in accordance with drugs’ effectiveness.
As the Covid-19 pandemic bore down last spring, America’s drugstore giants warned investors that the health crisis threatened their already tenuous turnarounds. CVS Health Corp. and Walgreens Boots Alliance Inc. lost revenue as shoppers stayed home and skipped routine medical care. The companies spent hundreds of millions of dollars to roll out testing and vaccination programs. This spring, something changed: Covid-19 turned into a moneymaker.
Abry Partners, a leading Boston-based private equity firm, announced today that it has entered into a definitive agreement to sell Sentry Data Systems, Inc., the nation’s leader in pharmacy procurement, compliance and utilization management, to Craneware plc (AIM: CRW.L), a market leader in Value Cycle solutions for the U.S. healthcare market for $400 million. Sentry Data Systems, Inc., headquartered in Deerfield Beach, Florida, is a leading provider of SaaS solutions which simplify the complexity of pharmacy procurement, utilisation and 340B regulatory compliance in order to maximise cost savings, improve patient outcomes and ensure precise regulatory compliance.
Walgreens Boots Alliance, Inc. (Nasdaq: WBA) today announced it has completed the sale of its Alliance Healthcare businesses to AmerisourceBergen for total consideration of approximately $6.5 billion, made up of $6.275 billion in cash (subject to a customary net cash and working capital adjustment) and 2 million shares of AmerisourceBergen common stock. The company will use the cash proceeds to reduce debt and accelerate growth of its core retail pharmacy and healthcare businesses.
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