Specialty Pharmacy Extends Reach in Healthcare

Genoa, a QoL Healthcare Company, a leading behavioral health specialty pharmacy company, has acquired the behavioral health and residential care services division of Advanced Care Pharmacy Services, including 13 of its pharmacies in Michigan. Genoa is a portfolio company of Advent International. In November 2015, Genoa acquired 1DocWay, the nation’s largest outpatient telepsychiatry provider, for an undisclosed price.

Advanced Care Pharmacy Services is a privately-held Alabama-based provider of specialized pharmacy services for a variety of care settings. Genoa’s purchase, which did not disclose a price, increases its number of Michigan-based pharmacies to 24, and 325 nationally. Most of which are located on-site within community mental health centers.

This announcement follows a recent study that cited higher rates of medication adherence and lower rates of behavioral health-related hospitalizations and ER visits among patients in community mental health centers who used Genoa on-site pharmacies, compared with community pharmacies.

This transaction marks the seventh specialty pharmacy acquisition of 2016.

 

 

One thought on “Specialty Pharmacy Extends Reach in Healthcare

  1. Great update on Genoa! I’m glad to see a company growing that is showing positive health outcomes for mental health patients. I work as a consultant pharmacist in a lot of psychiatric care facilities and none of them have this type of pharmacy/patient service. I hope this trend continues to grow!

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