AmerisourceBergen to buy reimbursement services firm TheraCom for $250m
The deal values TheraCom, a subsidiary of pharmacy group CVS Caremark Corp, at around $250m (€187m) and will see the Maryland, US-based firm join the Lash Group as part of AmerisourceBergen Consulting Services (ABCS) when completed in the first quarter next year.
Pharmacy and reimbursement services specialist TheraCom is AmerisourceBergen’s third acquisition in as many months behind market access consultancy Premier Source and informatics services firm IntrinsiQ.
Peyton Howell, president, AmerisourceBergen Consulting Services, told Outsourcing-pharma.com how TheraCom fits with the firm’s growth strategy.
“Premier Source is focused on patient access and reimbursement support services for molecular diagnostics and emerging biotech manufacturers, while TheraCom expands our services which support patient access and reimbursement support programs for pharmaceutical products. “
Howell added that: “Both acquisitions in combination with our existing best-in-class consulting business position us very well to meet the increasing demands for product support services, including services for very targeted therapies that often require diagnostics prior to the administration of the drug regimen.”
She also predicted that drug industry desire for cost effective market access coupled with ongoing US healthcare reforms would drive strong demand for the types of services offered by TheraCom over the next few years.
“The need for reimbursement, adherence and access services is expanding and becoming essential especially for new product launches.”
AmerisourceBergen has funded its recent acquisitions, which are worth at least $285m, with a $1.2bn (€1.4bn) cash reserve it built up as a result of ‘strong’ second quarter sales.
In August when AmerisourceBergen launched the strategy CEO Steve Collis set out the its criteria for acquisitions, explaining that “They should increase our value offering to existing customers, both up and down the channel; they should be within our established core competency; and they should increase shareholder value.”
And according to Howell this is still the strategy, she told Outsourcing-pharma.com that: “Acquisitions continue to be one of the ways in which we can potentially grow all of our lines of business and continue to drive value for all of our stakeholders.”