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Kroger grocer has entered into a definitive agreement to sell its specialty pharmacy business to CareronRx, a subsidiary of Elevance Health, the companies announced this week.
Financial terms of the deal were not disclosed.
Kroger Specialty Pharmacy has been part of Kroger since 2012. Kroger Health President Colleen Lindholz said the decision to sell the business came after a review of its assets, which “revealed that our strong specialty pharmacy business unit is better suited to serve us.” Maximize your potential outside of business.
“One of the most important considerations was to continue operations with minimal disruption to our employees and patients,” she said. “We are confident that this transaction will help grow our business and deliver better outcomes for patients.”
what is the impact
This retailer's specialty pharmacy serves patients with chronic conditions who require complex care. With skilled clinicians and treatment programs, patients and prescribers can benefit from education and resources, counseling, side effect management, financial assistance, personalized care and administrative expertise, according to Kroger. .
Our specialty pharmacy business supports patients facing diseases such as rheumatoid arthritis, growth hormone deficiency, multiple sclerosis, and bleeding disorders.
Kroger Specialty Pharmacy is independent from other Kroger family pharmacies, including in-store retail pharmacies and The Little Clinic. This means in-store retail pharmacies and The Little Clinic are not included in the deal.
The transaction is subject to customary closing conditions, including regulatory approvals, and is expected to close in the second half of this year. The move is not expected to affect Kroger's 2024 outlook.
bigger trends
Kroger entered value-based care last year, when its healthcare division, Kroger Health, partnered with Better Health Group to provide value-based primary care to seniors on Medicare. did. This care model will launch at select Kroger stores in the Atlanta area. The retailer has already begun enrolling seniors and plans to offer preventive care and personalized care from primary care providers.
Also last year, Kroger Health and Select Health announced a co-branding relationship for Medicare Advantage plans. These new co-branded plans will be offered in select counties in his four states: Colorado, Idaho, Nevada and Utah. Select said the plan offering increases access to options and services that promote health and wellness, and allows customers to save money on groceries and prescription drugs.
CarelonRx is also busy. Last year, Elevance Health PBM launched a new cost-savings program called EnsureRx. It automatically compares the price of some eligible generic drugs with various cash discount cards and applies the lowest cost to consumers at the pharmacy counter.
And starting this spring, CarelonRx will launch a weight management program to provide support to members on their weight loss journeys, including those using GLP-1 medications. The Digital First program provides access to digital coaching and wellness tools to help participants manage and monitor their weight goals, with the ability to connect to live human support both digitally and by phone .
Elevance completed its acquisition of Bioplus early last year, taking a step into the specialty pharmacy space. Bioplus provides a wide range of specialty pharmacy services to patients with complex chronic conditions such as cancer, multiple sclerosis, hepatitis C, and autoimmune diseases. Rheumatic condition. Elevance expects this acquisition will enable it to take a more holistic health-focused approach to meeting the specialty pharmaceutical needs of its clients and clients.
Jeff Lagasse I am the editor of Healthcare Finance News.
Email: jlagasse@himss.org
Healthcare Finance News is a publication of HIMSS Media.
