In late May, specialty pharmacy company PharMerica Corporation announced its first acquisition since being acquired by KKR & Co. (NYSE: KKR), with a minority investment from Walgreens Boots Alliance (NASDAQ: WBA), in August 2017.
The company priovides institutional and community-based pharmacy services in the United States. When KKR took it private for $1.3 billion, it had trailing-12 month revenue of approximately $2.4 billion and EBITDA of $138 million.
In December 2018, KKR announced a $1.3 billion deal for BrightSpring Health Services, then owned by Onex Corporation (ONEX.TO). BrightSpring, formerly known as ResCare, provides comprehensive home and community-based health services in areas such as behavioral health, pharmacy, e-health, hospice, and homecare to complex populations in need of specialized care.
The two companies merged on March 6, 2019, after the deal for BrightSpring closed, adding specialized care in areas such as behavioral health, pharmacy, ehealth, hospice, and homecare to complex populations in need of specialized care. Both are based in Louisville, Kentucky, making the integration a bit easier.
Now comes the deal for PropacPayless, owned by Moda Health. PropacPayless is a smaller long-term care and senior living pharmacy that serves 34,000 people in the northwest and western United States. Financial terms were not disclosed.
The newly combined company will continue to serve the long-term care, senior living, hospital, home infusion, behavioral, specialty and oncology pharmacy markets.
