Diplomat Pharmacy, Inc., and BioRx, LLC, said Thursday there is a definitive agreement on Diplomat acquiring BioRx.
The transaction requires regulatory review but is anticipated to close in March.
Diplomat, based in Flint, Michigan, is the country’s largest independent specialty pharmacy. Independent pharmacies are not owned by an insurance company or pharmacy benefit manager. BioRx is a highly specialized pharmacy and infusion services provider.
“We are proud and excited to join the Diplomat family of companies,” BioRx Co-founder Phil Rielly said. “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.”
The combined resources of the two companies will make Diplomat stronger and more distinctive in the infusion services industry,Diplomat Chairman and CEO Phil Hagerman said. The specialty pharmacy industry has evolved in the past 10 years and the partnership positions Diplomat to grow in the coming years, Hagerman said.
“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,” BioRx Co-founder Eric Hill said. “That’s good for patients, prescribers, payers and drug manufacturers.”