The supply chain management solutions company purchased RxCrossroads – a Kentucky-based specialty solutions provider – from CVS Health Corporation in a deal valued at $735m, funded by cash on hand.
Shawn Seamans, president, manufacturer solutions of McKesson Specialty Health told us the acquisition expands and improves McKesson’s existing commercialization service offerings to pharmaceutical and biotech companies in areas such as reimbursement and access (HUB) services, pharmacy services, and third-party logistics (3PL).
“Together, McKesson and RxCrossroads will be able to better serve the broad market and individual customer needs by providing differentiated and customized solutions,” Seamans added.
RxCrossroads will also help the company provide complementary capabilities in adjacent fields, including plasma logistics and clinical education solutions, he said.
“Commercialization services in years past were focused on bringing a product to market,” Seamans explained. However, the rise of patient consumerism and increased challenges to access medications have expanded customer needs beyond channel distribution to include customized access, adherence solutions, and evidence generation, he said.
“The way we interact throughout healthcare is changing as well, which is driving our innovation within e-services, multi-channel engagement and longitudinal patient and product insights,” added Seamans.
“McKesson and RxCrossroads are building an ecosystem that connects pharmaceutical companies, providers, pharmacies and payers to successfully commercialize medications and maximize our collective impact on patients’ lives.”
Moving forward, RxCrossroads will become part of McKesson’s Manufacturer Solutions, through which the company provides various services, including clinical research and development, drug launch and distribution, patient reimbursement, as well as real-world evidence generation.