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PharMerica Signs Exclusive Agreement With Innovatix, LLC

Stocks in this article: PMC

PharMerica Corporation (NYSE:PMC), a national leader in institutional and specialty home infusion pharmacy services with more than 90 locations across 45 states, has signed a three-year agreement with Innovatix, LLC, a full service non-acute care group purchasing organization co-owned by subsidiaries of GNYHA Ventures and Premier, Inc. (Nasdaq:PINC).

Under the agreement, Innovatix will serve as PharMerica’s exclusive GPO beginning January 1, 2014, and will support PharMerica’s institutional and specialty pharmacy purchasing needs through Innovatix’s network of pharmaceutical and ancillary suppliers. Innovatix will also work with Premier, a leading healthcare improvement company, to ensure Pharmerica is using appropriate products to support its contracting needs.

Additionally, PharMerica will be a member of InnovatixCares, LLC, a new population health management network, whose objective is to achieve better patient care through effective integration of post-acute care providers and emerging Accountable Care Organizations (ACO). InnovatixCares is working with Premier’s PACT Population Health Collaborative to create a comprehensive ACO solution linking providers across the care continuum.

“At the conclusion of a competitive proposal process, we are pleased that PharMerica has chosen Innovatix as its exclusive purchasing organization,” Innovatix President and CEO John P. Sganga said. “By leveraging our pharmacy expertise and the extensive portfolio we share with our national partner Premier, Inc., we believe Innovatix will deliver exceptional value and unparalleled service to PharMerica.”

Commenting about the selection process, Greg Weishar, President and CEO of PharMerica said, “Our selection of Innovatix came after a lengthy and thorough process. Choosing to partner with Innovatix represented the best choice in light of our own strategic initiatives and market expansion into home infusion and specialty. Additionally, we believe ACOs will play an emerging role in coordinating patient care in the years ahead and believe Innovatix is well positioned to assist us in partnering with ACOs, hospitals and physicians.”

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