Diplomat Pharmacy completes acquisition of Focus Rx Pharmacy Services

Flint, MichiganTuesday, September 12, 2017, 17:00 Hrs  [IST]

Diplomat Pharmacy has completed its acquisition of Focus Rx Pharmacy Services Inc., a specialty and infusion pharmacy with two locations in New York state.

Focus Rx is a customer-focused health care partner that provides home infusion and specialty prescription management services. This acquisition bolsters Diplomat's offering of extensive solutions to meet growing demand for infusion therapies.

"This partnership opens growth opportunities, especially in the key markets of New York and New Jersey," said Phil Rielly, Diplomat vice president and president of Diplomat Specialty Infusion Group. "Focus Rx brings over 15 regional and national payor contracts, boosting Diplomat's prescription and payor access."

Diplomat's specialty infusion services are built on the combined experience of experts in a range of areas and fully dedicated to meeting the specialized needs of individuals living with chronic conditions including alpha-1 antitrypsin deficiency, hemophilia, hereditary angioedema, immune deficiencies, nutritional deficiencies, and von Willebrand disease. The Focus Rx nutrition deficiency business will complement ThriveRx, the nutrition division of Diplomat Specialty Infusion Group—providing significant growth in the New York market.

"As a specialty infusion provider in today's rapidly evolving health care environment, we are excited to partner with Diplomat to enhance the delivery of comprehensive and personalized services to our patients," said Lou Puleo, CEO of Focus Rx. "Our efforts improve patient results, as well as the clinical, operational, and financial well-being of our partners," Puleo said. "Diplomat will further our commitment, enabling us to deliver integrated health care services to new and existing consumers and advancing our strong clinical expertise."

Focus Rx is expected to generate approximately $47 million in revenue and $3 million in adjusted EBITDA for the full year 2017. Harbor Healthcare Consultants, a boutique investment banking firm, assisted Focus Rx as their exclusive advisor.