A Resilient Industry: M&A Trends in Specialty Pharmacy
Significant changes have swept the specialty pharmacy market over the past several years. It was once a niche in the pharmacy industry but has grown significantly in market size. According to a report by Axtria, specialty drug spending is growing and constituted about 46% ($222.9 billion) of all prescription drugs in 2019, compared with 34.9% ($132 billion) in 2014. These numbers make sense with the tailwinds that pushed the industry, such as an aging population in the U.S. creating a greater need for medications that treat chronic and complex diseases. Most of the changes in the market have come from M&A activity. Consolidation has swept the industry, with a few players controlling... Read More »
Elevance Health Acquires Specialty Pharmacy BioPlus
Elevance Health acquired Altamonte Springs, Florida-based specialty pharmacy BioPlus from CarepathRx. Terms of the deal were not disclosed. BioPlus provides services for patients living with complex and chronic conditions, such as cancer, multiple sclerosis, Hepatitis C, autoimmune diseases and rheumatology. Indianapolis-based Elevance Health connects consumers, families and communities to the care, support and resources they need. Its companies serve more than 119 million people through a portfolio of medical, digital, pharmacy, behavioral, clinical and complex care solutions. According to the LevinPro HC database, this was the 23rd specialty pharmacy transaction of 2022. This compares... Read More »
WindRose Health Investors acquires Specialty Pharmacy Bank’s Apothecary
WindRose Health Investors, LLC, a New York-based healthcare private equity firm, announced that it has completed the acquisition of Bank’s Apothecary. Bank’s Apothecary will merge with WindRose’s portfolio companies Terrapin Pharmacy and Ganse Apothecary, significantly expanding the footprint of WindRose’s behavioral health pharmacy platform. Terms of the transaction were not disclosed. Westcove Partners acted as financial advisor to Bank’s. Latham & Watkins LLP acted as legal advisor to WindRose, and Epstein, Becker & Green acted as legal advisor to Bank’s. Terms of the transaction were not disclosed. Bank’s Apothecary is an independent accredited... Read More »
BD Enters New Pharmacy Automation Solutions Market With Parata Systems Acquisition
On June 6, Becton, Dickinson and Company (BD), a leading global medical technology company, entered into a definitive agreement to acquire Parata Systems, an innovative provider of pharmacy automation solutions, for $1.53 billion from leading private equity firm Frazier Healthcare Partners. The transaction will be complementary to BD’s solutions in medication management with a new set of technologies across the care continuum, including acute care health systems, retail pharmacies, long-term care and home settings. Ropes & Gray LLP advised Becton, Dickinson and Company in the acquisition. Parata provides BD access to a new $600 million pharmacy automation market segment that is... Read More »