PITTSBURGH (March 24, 2016)—Apothecary by Design (ABD), a rapidly growing specialty pharmacy serving patients with complex conditions such as infertility, recently announced that it has acquired Healy Pharmacy, of Warrenville, Illinois. The two pharmacies will share resources in order to better serve patients and prescribers, and will each be better positioned to succeed in the increasingly competitive specialty pharmacy marketplace, according to ABD's chief executive officer, Mark McAuliffe.
The Braff Group originated the transaction, and served as the exclusive mergers and acquisitions advisor to Healy Pharmacy.
"By joining forces, both pharmacies are stronger," McAuliffe said. "For example, both Healy and Apothecary by Design are deeply committed to providing high-quality patient care; together, our pharmacies will be able to exchange best practices and deliver even better outcomes. We look forward to working with our new colleagues in Illinois."
ABD and Healy both specialize in infertility treatment, serving complementary geographic markets with little overlap. "In addition," McAuliffe said, "the partnership blends each pharmacy's unique areas of expertise, such as Healy's strength in oncology and ABD's experience in infectious and inflammatory diseases."
Healy patients will continue to receive the same personalized care, from the same location, according to Jack Quinnert, Healy's pharmacist in charge. The pharmacy's staff and leadership will remain in place, he added. "The only changes patients or health care practitioners will experience in our service will be positive ones," Quinnert said. "Both Healy and ABD are known for the way in which they interact with patients and collaborate with the care team. Drawing on each pharmacy's strengths can only benefit the patients we serve."
"With such narrow margins in specialty pharmacy, virtually every deal in the space is informed, at least in part, by the drive to generate revenue enhancing or cost reducing synergies," commented Reg Blackburn, The Braff Group managing director that headed up the deal team representing Healy. "Deals like this increase distribution capacity, efficiency, and reach, create opportunities for greater volume- based rebates, leverage back office infrastructures, and often expand product line capabilities for both the buyer and the seller."
About Apothecary by Design
Apothecary by Design, a BelHealth Investment Partners portfolio company, is a rapidly growing specialty pharmacy with a high-touch service model and a focus on advocating for patients with chronic diseases. Headquartered in Portland, Maine, ABD provides intensive case management services regionally and nationally to patients who have complex medical conditions, such as infertility, hepatitis C, HIV and rheumatoid arthritis. Through support, education and advocacy, ABD puts patients on a path toward better health and quality of life.
Visit the braffgroup.com for more information.