Centene said July 14 that it has completed the sale of its specialty and rare drug pharmacy Pantherx.
The payer first announced plans to sell the Pittsburgh-based company to Vistria Group, General Atlantic and Nautic Partners in May. It announced the deal along with a seperate sale of Magellan Rx to Prime Therapeutics. The two deals are worth a total of $2.8 billion.
Centene purchased Pantherx in December 2020. The payer said in a July 14 news release it intends to use a majority of the Pantherx sale proceeds to repurchase stock and the balance to reduce debt.