OneroRx Inc., a leader in integrated pharmacy services to patients in underserved markets through its hub and spoke pharmacy and telepharmacy operations, announced that it has completed an acquisition that substantially increases the scope and scale of its business. The transaction involves the acquisition of Medley Pharmacy, Inc., a leading pharmacy operator in Missouri and represents an expansion into a new market, the State of Missouri.
The Medley business began in 1978, with the opening of its first store in Owensville, Missouri. Medley operates 15 pharmacies in south central Missouri under the Medley Pharmacy, Sinks Pharmacy, Steelville Drug, Towne Pharmacy, and Sinks Pharmacy Select brands serving over 50,000 patients in 7 counties across south central Missouri. 14 of the locations are retail pharmacies, with Sink Pharmacy Select being a Long-Term-Care pharmacy that provides pharmacy services for a wide range of clients such as skilled nursing facilities, assisted living, hospice, and group homes.
“We are very pleased to acquire Medley Pharmacy, Inc. and we welcome their talented pharmacy staff to OneroRx,” said Joseph R. Dunham, Chairman, CEO and President of OneroRx. “This transaction is a continuation of our strategy in serving pharmacy deserts. The cultures, missions and values of both organizations align very well. Through this transaction we have a substantial footprint in our fourth state of operation as we continue to expand in the Midwest. With the acquisition of Medley Pharmacy, OneroRx now operates 46 pharmacies and telepharmacies in Iowa, Wisconsin, Illinois and Missouri, serving over 175,000 patients annually.”
“We are excited to join OneroRx,” said Sandy Mitchell, President of Medley Pharmacy, Inc. “This is an opportunity to join a company that operates with the same commitment to patients, employees, and their communities as we do. The 45-year legacy of Medley Pharmacy, Inc. will continue with OneroRx ownership. Rural communities rely on independent pharmacies for their healthcare needs and OneroRx is committed to preserving access to healthcare for our patients.” OneroRx is a leading regional provider of pharmacy and telepharmacy services, pharmaceutical products, supplements, and medical supplies to patients in underserved communities.
The M&A market for healthcare companies continues to strengthen in 2022 ahead of projected increases in US capital gains taxes. There is unprecedented capital in market, the lowest interest rates in US history and strong acquirer motivations for high quality healthcare companies. Across the continuum of care, buyers and investors are looking for well established, profitable businesses and offering strong valuations and options for management.
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