CarepathRx recently announced that it plans to acquire part of the University of Pittsburgh Medical Center’s (UPMC’s) Chartwell pharmacy subsidiary in a $400 million deal. CarepathRx was founded in 2019 by John Figueroa, former CEO of Genoa Healthcare, and Nautic Partners.
As part of the agreement, CarepathRx plans to acquire the management services organization responsible for the operational and strategic management of Chartwell. UPMC will become a strategic investor in CarepathRx.
CarepathRx is a portfolio company of The Blue Venture Fund, a collaboration between BlueCross BlueShield (BCBS) companies, the BlueCross BlueShield Association (BCBSA), and venture capital firm Sandbox. Chartwell Pennsylvania, LP, is one of the largest and most clinically advanced providers of home infusion, specialty pharmacy, and enteral nutrition in the nation.
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. This new partnership expands CarepathRx’s specialty and home infusion capabilities. CarepathRx serves more than 15 health systems and 600 hospitals, with more than 1,500 employees nationwide.
CarepathRx companies include:
- BioPlus – provides specialty pharmacy services with extensive 340B experience, Limited Distribution Drug (LDD) access and payor access.
- PipelineRx – is a leader in comprehensive medication management solutions designed to advance pharmacy towards more outcomes-focused patient care.
- ExactCare – helps people with chronic conditions and multiple medications overcome daily challenges to living healthier at home. Solutions include at-home clinical pharmacy support and an easier, safer way to manage medications.
- SemitaRx – provides a specialty pharmacy management solution that improves pharmacy productivity.
- ProHealth – provides home infusion management solutions that expand hospital pharmacy services into the home and across the continuum of care.
Takeaway: Will UPMC be a bellwether on a new trend of health systems divesting specialty pharmacy and infusion businesses that will be reversing the trend of acquisition activity in this area?