Elevance expands special pharmacy services with acquisition
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Indianapolis-based Elevance Health (NYSE: ELV) has entered into an agreement with Washington-based CarepathRx to acquire BioPlus, a comprehensive specialty pharmacy. Financial terms were not disclosed, but the companies expect to close the deal in the first half of 2023.
Elevance says BioPlus provides pharmacy and medication management solutions for vulnerable and chronically ill patients.
It provides a range of pharmacy services for patients living with complex conditions, such as cancer, multiple sclerosis, hepatitis C, and autoimmune diseases.
“The acquisition of BioPlus helps us deliver on our whole-health strategy that gives our consumers improved access and reliability to their prescriptions when they need it most,” said Pete Haytaian, executive vice president, Elevance Health and president, Carelon.
Haytaian says the acquisition will help Elevance deliver greater affordability and access to critical medications.
Elevance says BioPlus employs more than 500 workers, including pharmacists, pharmacy techs, and call center representatives. Elevance says it does not anticipate reductions as a result of this acquisition.