BioRx Agrees to Acquisition by Diplomat Pharmacy, Inc.
Combination extends reach of independent, patient-centered care.
Cincinnati, Ohio (February 26, 2015) — BioRx, LLC and Diplomat Pharmacy, Inc. (NYSE: DPLO) announced today a definitive agreement whereby Diplomat will acquire BioRx. The transaction requires regulatory review but is expected to close in March, 2015.
“We are proud and excited to join the Diplomat family of companies,” said Phil Rielly, co-founder of BioRx. “Since we started BioRx in 2004, our goal has been to build the country’s most patient-centered specialty pharmacy that focuses on chronic and complex therapies. Diplomat shares this focus and represents the right partner, at the right time, for us to continue our mission into the future.”
Based in Flint, Michigan, Diplomat is a family-grown business that today is the largest independent specialty pharmacy in the country –one not owned by an insurance company or pharmacy benefit manager (PBM). This independent focus is unique among specialty pharmacies of Diplomat’s scale.
Phil Hagerman, Chairman and CEO of Diplomat commented, “We are very excited to expand Diplomat’s infusion services with the acquisition of BioRx. The combined resources of both companies will make us much stronger and unique within the infusion services industry.” Mr. Hagerman continued, “The specialty pharmacy market has evolved substantially over the last decade and this partnership will help Diplomat be even more prepared to grow and thrive in the years to come.”
Both BioRx co-founders, Phil Rielly and Eric Hill, have made multi-year commitments to help lead the combined organization going forward. “With the collective resources of BioRx and Diplomat, we become a stronger company and achieve a more competitive position in the market,” said Hill. “Together, we offer a robust portfolio of specialty products across an integrated national pharmacy network – all while maintaining a delivery model that customizes care at the individual level. That’s good for patients, prescribers, payers and drug manufacturers.”
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BioRx is a highly specialized pharmacy and infusion services provider that secures necessary treatments for patients with ultra-orphan and rare, chronic diseases. In addition to pharmacy and infusion services, BioRx also serves health plans and payer organizations with comprehensive data analytics and outcomes reporting – at the member-specific and population-wide levels. The company’s clinical staff reaches patients in all 50 states and operates dispensing facilities in Ohio, Massachusetts, North Carolina, Iowa, Minnesota, Arizona and California. To learn more, visit www.biorx.com.
Diplomat (NYSE: DPLO) serves patients and physicians in all 50 states. Headquartered in Flint, Michigan, the company focuses on medication management programs for people with complex chronic diseases, including oncology, immunology, hepatitis, multiple sclerosis, HIV, specialized infusion therapy and many other serious or long-term conditions. Diplomat opened its doors in 1975 as a neighborhood pharmacy with one essential tenet: “Take good care of patients, and the rest falls into place.” Today, that tradition continues – always focused on improving patient care and clinical adherence. For more information, visit www.diplomat.is