Financial terms of the transaction weren’t disclosed. Long Island, N.Y.-based Focus Rx has locations in Holbrook and Ronkonkoma, N.Y., where it’s headquartered.
With a strong patient focus, Focus Rx provides home infusion and specialty prescription management services and, in particular, will help Diplomat meet rising demand for infusion therapies, the nation’s largest independent specialty pharmacy said.
“This partnership opens growth opportunities, especially in the key markets of New York and New Jersey,” Phil Rielly, corporate vice president and president of Diplomat Specialty Infusion Group, said in a statement when Diplomat announced the deal late Monday. “Focus Rx brings over 15 regional and national payor contracts, boosting Diplomat’s prescription and payor access.”
Diplomat said its specialty infusion services serve the needs of people living with chronic conditions such as alpha-1 antitrypsin deficiency, hemophilia, hereditary angioedema, immune deficiencies, nutritional deficiencies and von Willebrand disease.
Focus Rx’s nutrition deficiency business will complement ThriveRx, the nutrition division of Diplomat Specialty Infusion Group, and provide sizable growth in the New York market, according to Diplomat.
“As a specialty infusion provider in today’s rapidly evolving health care environment, we are excited to partner with Diplomat to enhance the delivery of comprehensive and personalized services to our patients,” stated Lou Puleo, chief executive officer of Focus Rx. “Our efforts improve patient results, as well as the clinical, operational and financial well-being of our partners. Diplomat will further our commitment, enabling us to deliver integrated health care services to new and existing consumers and advancing our strong clinical expertise.”
For its full 2017 fiscal year, Focus Rx is expected to generate about $47 million in revenue, Diplomat reported.
Focus Rx marks the third acquisition that Diplomat announced this year, following the purchases of multichannel service center solution provider WRB Communications Inc. in May and specialty pharmacy Affinity Biotech Inc. in February.