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$400M agreement between CarepathRx and UPMC's Chartwell could expand access to specialty pharmacy services
CarepathRx, a pharmacy management company, has partnered with the University of Pittsburgh Medical Center (UPMC)'s Chartwell subsidiary in a deal that executives say will expand patient access to specialty pharmacy and home infusion capabilities. Per the $400 million agreement, CarepathRx will acquire the management services organization responsible for the operational and strategic management of Chartwell, while UPMC becomes a strategic investor in CarepathRx. The deal is expected to close within the next 30 days.
By prioritizing the most vulnerable patients—many of which are undergoing specialty and infusion therapies—CarepathRx’s goal is to overcome the hurdles that may come with traditional pharmacy care and medication management. CarepathRx works closely with an array of members within the healthcare field, such as health systems, community physicians, home health agencies and payers, providing services to more than 600 hospitals nationwide.
The deal is a positive for all parties involved, says Leslie Davis, senior vice president of UPMC, and executive vice president and COO of its health services division, noting that the center is continually searching for ways to get involved with new care delivery models, including in the pharmacy sector.
"Health systems nationwide are looking for new ways of delivering care beyond the walls of the hospital to drive better clinical outcomes at lower costs," she mentioned. "Chartwell's agreement with CarepathRx will allow other health systems to benefit from the pharmacy model that UPMC has created, while delivering even better care and service for our patients and health plan members."