Tag: Consolidation
FTC scrutinizes PBMs in new report
July 9, 2024HME News Staff
WASHINGTON – The Federal Trade Commission has published an interim report that underscores the impact pharmacy benefit managers have on accessibility and affordability of prescription drugs.
The FTC’s report, which is part of an ongoing inquiry launched in 2022, details how increasing vertical integration and concentration has enabled the six largest PBMs to manage nearly 95% of all prescriptions filled in the United States. This market structure has allowed PBMs to profit at...
A fine line
May 18, 2022Liz Beaulieu, Editor
Am I the only one getting CPAP shortage vibes from the baby formula shortage?
I’m not going to lie. The formula shortage wasn’t fully on my radar until recently. With a seven-year-old, my days of buying formula are long over. But seven years ago, it would have been a different story, as my daughter was 100% formula fed. (My breastfeeding story, by the way, is not uncommon. Difficulty with latching. Supply issues with pumping. There is no shame here.)
I can’t imagine...
NCPA president discusses impact of M&A with FTC
April 20, 2022HME News Staff
ALEXANDRIA, Va. – National Community Pharmacists Association President Michele Belcher participated in a recent Federal Trade Commission-Department of Justice online listening forum on the effects of mergers and acquisitions. Belcher, who is owner of Grants Pass Pharmacy in Grants Pass, Ore., described to FTC Chair Lina M. Khan, Assistant Attorney General Jonathan Kanter and others how the take-it-or-leave-it contracts between pharmacy benefit managers and independent pharmacies lead to harms...
In brief: KabaFusion buys Lincare's home infusion biz, Knueppel Healthcare to close
March 6, 2020HME News Staff
CERRITOS, Calif. - KabaFusion has acquired the home infusion assets of Lincare, expanding its footprint to 28 specialty pharmacies.
The deal adds specialty pharmacies in 11 markets: Alabama, Arkansas, Florida, Indiana, Kentucky, Michigan, New Jersey, New York, North Carolina, Virginia and Wyoming.
“We are excited to expand our national network with the infusion pharmacies from Lincare,” said Dr. Sohail Masood, founder and CEO. “We look forward to combining the best of both...
Knueppel Healthcare to close
March 4, 2020HME News Staff
MILWAUKEE - Knueppel Healthcare Services, citing unsustainable Medicare reimbursement, will close by the end of April, according to the Milwaukee Business News.
The provider, a third-generation family business, also cited competition from e-commerce as a reason for closing and laying off 44 employees.
“I've been doing it for close to 20 years now; I gave it my best,” William Knueppel told the newspaper. “On a personal level, I feel I let my father down (who passed in 2008)....
UnitedHealth Group buys specialty pharmacy
December 12, 2019HME News Staff
EDEN PRAIRIE, Minn., and FLINT, Mich. - UnitedHealth Group's Optum division will pay about $300 million to buy Diplomat, a provider of specialty pharmacy and infusion services, according to news reports.
Diplomat focuses on managing specialty medications, including oncology and immunology, and provides specialized infusion therapies in all 50 states and Washington, D.C.
“With its focus in specialty and infusion services, Diplomat has a proven track record of solving the unique challenges...
Reduction in providers up to 37%
May 3, 2019HME News Staff
WASHINGTON - There are about 6,143 unique providers and 9,195 traditional locations as of January 2019, a 37% and 35% reduction, respectively, since the inception of Medicare's competitive bidding program, AAHomecare reports. There has been about a 3% decrease in both providers and locations since the association's last quarterly report in October. Click here for an updated tracking sheet.
NSM grows presence in Bay Area
March 5, 2019HME News Staff
NASHVILLE, Tenn. - National Seating & Mobility is expanding its footprint in California with the acquisition of Western Rehab Solutions in Martinez.
NSM will now operate 16 locations in the state.
“We are excited to expand our northern California footprint with this new branch, and look forward to partnering with this experienced and well respected team to bring innovative mobility and accessibility solutions to Bay Area clients,” said Bill Mixon, NSM CEO.
NSM already operates...
Ritzman Pharmacies sells to CVS
January 8, 2019HME News Staff
MEDINA, Ohio - Ritzman Pharmacies will sell its 20 retail pharmacies serving primarily northeast Ohio to CVS Pharmacy, The Associated Press reports. CVS Pharmacy plans to operate in the same locations with the same staff in Ritzman's Akron and Berlin stores, and close the remaining stores and transfer all files to nearby CVS Pharmacy stores, according to the AP. Ritzman will continue to manage Summa's Home Infusion through a managing company called VAR. Eric Graf, president and CEO of Ritzman,...
M&A: DJO sells, Aeroflow buys
November 27, 2018HME News Staff
ANNAPOLIS, Md. - Colfax Corp. has entered into a definitive agreement to buy DJO Global from an investment group led by private equity firm Blackstone for $3.15 billion in cash.
Colfax provides air and gas handling and fabrication technology products and services to customers around the world, primarily under the Howden and ESAB brands.
“The acquisition of DJO is a compelling next step in the strategic evolutions of Colfax that creates a new growth platform in the high-margin orthopedic...