Retail News Breaks
AmerisourceBergen to buy TheraCom from CVS Caremark
September 27th, 2011
VALLEY FORGE, Pa. – AmerisourceBergen Corp. has entered an agreement to purchase TheraCom, a subsidiary of CVS Caremark Corp.
AmerisourceBergen said Tuesday that the $250 million deal is slated to close in its fiscal 2012 first quarter, which ends Dec. 31.
The pharmaceutical distributor noted that TheraCom is a leading provider of commercialization support services to the biotech and pharmaceutical industry, specifically providing reimbursement and patient access support services. Plans call for TheraCom to join Lash Group as part of the distributor's AmerisourceBergen Consulting Services (ABCS) unit.
"The acquisition of TheraCom will significantly increase the size and scope of our consulting services offering and meaningfully expands our reimbursement, adherence and patient access services for pharmaceutical and biotech manufacturers," Steven Collis, president and chief executive officer of AmerisourceBergen, said in a statement.
Collis added, "The addition of TheraCom's capabilities to our market-leading consulting services will provide our manufacturer customers with enhanced solutions to meet the challenges in the changing health care landscape and will help ensure even greater patient access to medication therapies."
According to AmerisourceBergen, TheraCom's customized solutions and "high-touch" service model complement ABCS' services and expand the unit's pharmacy benefit reimbursement capabilities.
Together, Lash Group and TheraCom will offer an extensive platform of services and solutions to support the rising demand for patient access and reimbursement services, as well as support the need for unique distribution solutions, AmerisourceBergen said. TheraCom's annualized revenue is about $700 million, coming mainly from the specialized distribution component of the integrated reimbursement support services for certain prescription products, the distributor added.
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