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Diplomat closes BioRx acquisition

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FLINT, Mich. — Diplomat Pharmacy Inc. has completed its acquisition of pharmacy and infusion services provider BioRx LLC.

Diplomat said Thursday that the addition of BioRx will make it one of the nation’s largest specialty infusion providers. Diplomat already is the largest independent specialty pharmacy in the United States.

“The combined resources of both companies will better serve our patients with broader access to limited distribution drugs as Diplomat and BioRx manage a strong therapy mix,” Diplomat chairman and chief executive officer Phil Hagerman said in a statement. “The combination furthers our capabilities to roll out services to a larger national geographic footprint, which will strengthen our ties with pharmaceutical manufactures by satisfying their demand for a multichannel reach.”

Cincinnati-based BioRx provides treatments for patients with ultra-orphan and rare, chronic diseases. Along with pharmacy and infusion services, the company serves health plans and payer organizations with data analytics and outcomes reporting. BioRx’s clinical staff serves patients in all 50 states and operates dispensing facilities in Ohio, Massachusetts, North Carolina, Iowa, Minnesota, Arizona and California.

Under the acquisition deal, announced in late February, Diplomat purchased BioRx for $210 million cash and about 4.05 million shares of Diplomat common stock.

“For payor partners, our expanded offering improves our ability to take care of patients regardless of benefits,” stated Phil Reilly, co-founder of BioRx.

“Since we started BioRx in 2004,” added BioRx co-founder Eric Hill, “our goal has been to build the country’s most patient-centered specialty pharmacy. Diplomat shares this focus and continues to represent the right partner, at the right time, for us to continue our mission into the future.”

Rielly and Hill have made multiyear commitments to help lead the combined infusion services organization going forward, Diplomat said.


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