Northwind Pharma acquires Oregon company
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Indianapolis-based Northwind Pharmaceuticals LLC has acquired QVI Risk Solutions, a health benefit administrator headquartered in Bend, Oregon. The private pharmaceutical repackaging company did not disclose financial details of the deal.
Founded in 2003, QVI provides third-party administrator services to employers that self-fund their employee benefit programs. The company also provides business process outsourcing services to other TPAs and commercial health insurers.
“The self-funded employers, unions, advisors, and healthcare providers, with whom we work, feel that the economic and experiential value of healthcare has become disordered,” Northwind CEO Phillip Berry said in a news release. “They continue to ask us to help them create options that drive value back to those who pay for and access the healthcare system.”
Berry said the acquisition of QVI’s services will supplement Northwind’s direct contract pharmacy benefits services.
“For 20 years, QVI has shown-up for our clients and their members by being a good steward of their health and financial resources,” said QVI Risk Solutions CEO Carolyn Jarschke. “Northwind’s values and vision for the future align ideally with our own. Quality, value, and innovation, have been hallmarks of our success and we are excited to enter this next chapter by joining our story to Northwind’s.”
QVI will continue to operate out of its Oregon office, according to Northwind. The company has 12 employees, and Berry told IIB no jobs will be negatively affected by the deal.
The acquisition comes more than four months after Northwind announced a $10.5 million expansion in Indianapolis, with plans to create 205 jobs by the end of 2025.
The company currently has 100 employees, and Berry said the acquisition will driving the hiring of up to 30 people by the end of the year.