Elevance Health's specialty care acquisition spree

Elevance Health has picked up several specialty pharmacy and care-based companies in recent years, bolstering the capacity of its health services arm, Carelon. 

On March 19, Kroger announced plans to sell its specialty pharmacy business to CarelonRx, Elevance Health's pharmacy benefits segment. The organization serves patients with chronic illness that requires complex care, including rheumatoid arthritis, growth hormone deficiencies, multiple sclerosis and bleeding disorders. 

The deal is expected to close in the second half of 2024. 

Earlier this month, Elevance closed the acquisition of Paragon Healthcare. The Plano, Texas-based company operates more than 40 ambulatory infusion centers in eight states and also provides home infusion. 

In 2023, Elevance acquired another specialty pharmacy business. The company picked up BioPlus, which also provides pharmacy management for complex conditions. 

On Elevance Health's most recent quarterly earnings call, held Jan. 24, CEO Gail Boudreaux said the company's specialty pharmacy business is fast-growing. Carelon is focused on growing capacity in managing high-cost, complex care, Ms. Boudreaux said. 

"That's where we think that there's a huge differentiated focus between our technology, our clinical domain expertise and our ability to drive trend," she said. 

Elevance is also building up its home health delivery services. In 2021, it acquired home nursing management company myNEXUS, and expanded it to 15 states in 2022. 

Copyright © 2024 Becker's Healthcare. All Rights Reserved. Privacy Policy. Cookie Policy. Linking and Reprinting Policy.


Top 40 articles from the past 6 months