What You Should Know:
– CarepathRx will acquire the University of Pittsburgh Medical Center’s pharmacy operations in a $400M deal.
– The company fully integrates pharmacy operations, expands healthcare services, improves ambulatory access, minimizes clinical variation and creates new health system revenue streams.
– CarepathRx serves more than 15 health systems and 600 hospitals, with more than 1,500 employees nationwide, 400 payor contracts. Already CarepathRx has treated more than 100,000 patients.
CarepathRx, a leader in pharmacy and medication management solutions for vulnerable and chronically ill patients, announced today a partnership with UPMC’s Chartwell subsidiary that will expand patient access to innovative specialty pharmacy and home infusion services. Under the $400M landmark agreement, CarepathRx will acquire the management services organization responsible for the operational and strategic management of Chartwell while UPMC becomes a strategic investor in CarepathRx.
This new partnership expands CarepathRx’s specialty and home infusion capabilities. “Our partnership with UPMC and Chartwell is an important step for CarepathRx. We set out to create a new approach to pharmacy care in the market—one that is centered on the patient and that works collaboratively with both the provider and the payor of health care,” said Figueroa, chief executive officer of CarepathRx. “We welcome the team at Chartwell to the CarepathRx family and are thrilled to partner with UPMC to help us achieve our mission.”
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Founded in 2019 by seasoned health care executive John Figueroa and middle-market private equity firm Nautic Partners LLC, CarepathRx has rapidly become a leader in delivering comprehensive pharmacy solutions to patients undergoing complicated medication therapies. By focusing on the most vulnerable patients, CarepathRx is seeking to break down the barriers of typical pharmacy care and medication management. Its suite of solutions caters to patients undergoing specialty and infusion therapies, often for a variety of chronic conditions. CarepathRx works closely with partners across the health care spectrum—including health systems, community physicians, home health agencies and payors. Today, CarepathRx delivers its services to more than 600 hospitals across the country.
The transaction is expected to close within 30 days. Cantor Fitzgerald & Co. served as financial advisor to Chartwell in the formation of the management services organization and partnership with CarepathRx.