Buyer: Value Drug
Seller: Restore Rx
Keywords: Pharmacy, Value Drug, Restore Rx
Value Drug, through its Value Specialty Pharmacy subsidiary, will be acquiring Brunswick, Tenn.-based specialty pharmacy Restore Rx, the company announced this week.
With the acquisition, the company said it would expand the scope of Value Specialty Pharmacy’s business while retaining the current location, leadership and employees of Restore Rx. The acquisition brings Value Drug a nationwide patient footprint and headquarters in close proximity to the FedEx hub in Memphis, facilitating expedited shipping.
“We are very excited about the opportunities that this acquisition will bring,” Value Drug and Value Specialty Pharmacy president Greg Drew said. “Restore Rx is a company that has developed key relationships in this segment, and the fact that we are able to retain the prior relationships, owners and employees will be a key to our success, as we expand to a nationwide footprint, with all the opportunities that brings.”
Value Specialty Pharmacy, which is accredited by URAC and ACHC, established itself in 2011 to help support the specialty needs of independent community pharmacies. In addition to Value Specialty Pharmacy, Value Drug coop members also have access to CP Specialty Pharmacy Services, which is a hub-based program for such specialty pharmacy services as prior authorization, patient financial assistance and clinical pharmacy and nursing services.
“This acquisition was a key component to the Board’s commitment to specialty pharmacy, allowing us to effectively compete in a very important part of pharmacy’s future,” Value Drug board chairman Rody Tibbott said.