WOONSOCKET – CVS Health Corp. has acquired Portland, Maine based Apothecary By Design’s specialty pharmacy business from New York-based BelHealth Investment Partners Jan. 7, and plans to keep each of the company’s 38 employees.
“The transaction will allow CVS Health to provide the highest level of specialty pharmacy care to patients currently served by Apothecary By Design,” CVS said in a statement about the acquisition.
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CVS regularly makes such small acquisitions, said Amy Lanctot, senior manager of public relations at the company. She said the purchase is unrelated to the company’s recently reported $69 billion deal to acquire Aetna, currently waiting on federal review.
CVS began operating Apothecary By Design’s Portland facility at 141 Preble St. on Monday, providing specialty pharmacy services to patients through CVS Specialty, the specialty pharmacy business of CVS Health. The business has retained the Apothecary By Design name.
CVS Specialty is the nation’s largest specialty pharmacy. CVS Specialty patients receive ongoing disease education, counseling, and benefits verification, as well as coordination of care with multiple health care providers, comprehensive patient education and adherence management.
Rob Borkowski is a PBN staff writer. Email him at Borkowski@PBN.com.
