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Specialty-pharmaceutical services company will add to AmerisourceBergen Consulting Services
Continuing an active acquisition program—nearly all occurring within the month of September—AmerisourceBergen has acquired TheraCom LLC from CVS Caremark for $250 million, cash. The acquisition is expected to close by the end of the year. The company will be folded into AmerisourceBergen Consulting Services, the newly formed division of ABC that includes Lash Group and the just-acquired Premier Source.
The purchase makes eminent sense for ABC, which has been building up its specialty services to manufacturers and healthcare providers. TheraCom provides “commercialization support” services to manufacturers, including reimbursement and patient access support. TheraCom is also an accredited wholesaler-distributor in its own right. "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," said Steven Collis, ABC CEO.
What is puzzling is why CVS Caremark is selling. TheraCom, which grossed over $700 million in the past 12 months, is in the specialty-pharmaceutical pharmacy and distribution space that is growing rapidly, and patient-reimbursement services are becoming a key element in dealing with managed markets. There was some speculation that CVS Caremark is cleaning up its balance sheet in preparation for splitting the CVS and Caremark parts of the company (something that has been talked about ever since the giant pharmacy chain and the giant PBM came together).