Elevance Health (NYSE: ELV) today announced the closing of its acquisition of BioPlus, a comprehensive specialty pharmacy subsidiary of CarepathRx, a portfolio company of Nautic Partners.
BioPlus provides a complete range of specialty pharmacy services for patients living with complex and chronic conditions, such as cancer, multiple sclerosis, hepatitis C, autoimmune diseases, and rheumatology. The company covers more than 100 limited distribution medications and has a footprint that touches all 50 states.
This acquisition will help Elevance Health meet the specialty drug needs of its clients and customers with a whole-health approach, supported by programs across Elevance Health and Carelon, Elevance Health’s healthcare services brand. BioPlus will now operate as part of CarelonRx, Elevance Health’s pharmacy benefit manager within Carelon.
“Specialty pharmacy is a critical driver of value for patients, and we are excited to welcome BioPlus, the largest independent specialty pharmacy, to our Elevance Health family,” said Pete Haytaian, Executive Vice President, Elevance Health and President, Carelon. “Together, we will enhance our abilities to provide end-to-end pharmacy services for our consumers by delivering greater affordability and access to critical medications, as well as a superior patient experience.”
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Elevance Health plans to expand BioPlus’ service models across more complex disease treatment areas so the combined company can continue to provide timely access to medications, deliver leading support services for both providers and patients, and ensure individuals receive distinctive clinical expertise and service. The acquisition of BioPlus furthers Elevance Health’s commitment to scaling healthcare services to address the needs of health plans and their members, beginning with members of its affiliated health plans.
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