Centric Buys Specialty Pharmacy Network

Centric Buys Specialty Pharmacy Network

Centric Health Corporation (TSE: CHH) is on its way to becoming the largest specialty pharmacy company serving seniors in Canada, thanks to its recently announced acquisition of Remedy Holdings Inc. The price is approximately US$27.2 million. This is the second deal in March 2020 targeting special services for seniors. Early in the month, NaviHealth acquired Innovative Healthcare Delivery IHD delivers a high-touch, patient-centric and non-clinical approach that is paired with proprietary workflow and patient engagement technology to help seniors to better understand and participate in their care plans.   In February, Guardian Pharmacy Services added to its Florida holdings with... Read More »
Centric Buys Specialty Pharmacy Network

Guardian Pharmacy Buys Long-Term Care Business

Guardian Pharmacy of Jacksonville, a locally owned member of Atlanta-based Guardian Pharmacy Services (GPS), has acquired the long-term care division of Atkinson’s Pharmacy, which offers compound and specialty pharmacy services for the long-term care industry, including an electronic medical records system for clients. Terms of the deal were not disclosed. GPS is one of the nation’s largest long-term care pharmacy companies, with 37 locations in 26 states. Its local-autonomy business model allows local teams to focus on the specialized needs of customers in their communities. Guardian’s corporate support team assists with day-to-day business operations. The Jacksonville... Read More »
KKR’s PharMerica Makes Its First Deal

KKR’s PharMerica Makes Its First Deal

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... Read More »
Avella Specialty Pharmacy Goes to OptumRx

Avella Specialty Pharmacy Goes to OptumRx

The auction for Riordan, Lewis & Haden’s portfolio company, Avella Specialty Pharmacy, was well under way back in February, according to industry sources. UnitedHealth Group’s (NYSE: UNH) Optum was reported to be in the lead, and then things went dark. It wasn’t until UnitedHealth Group’s third quarter earnings report was published on October 16 that the story ended. Some time in the third quarter, Optum acquired Avella and tucked it into its OptumRx pharmacy services subsidiary. The price wasn’t disclosed, but PEHub cited two sources saying the deal was valued at around $325 million. That’s pretty low, considering Avella’s previously disclosed... Read More »

Personalized Medicine Isn’t All Biotech

There are many sides to personalized medicine, and genetic testing is just one. Another cropped up last week in an acquisition made by Restore Health, a privately held Wisconsin company that provides personalized medicines to health care providers across the United States. Its target was Diplomat Pharmacy’s (NYSE: DPLO) compounding pharmacy business, which includes preparation of personalized medicines for patients, and compounding pharmacists who work with prescribers to customize medication to meet specific patient health needs. The deal frees up Diplomat to focus on its core specialty pharmacy operations, which were bolstered with its acquisition of Burman’s Specialty Pharmacy for $82.8... Read More »