Maxor Announces Intent to Acquire Pharmaceutical Specialties, Inc. (PSI), Creating a National Best-In-Class Specialty Pharmacy
- Sep 20, 2016
- Related Investments
Maxor National Pharmacy Services, LLC ("Maxor") today announced an agreement to acquire Pharmaceutical Specialties, Inc. ("PSI").
The combination of Texas-based Maxor Specialty / IV Solutions and Georgia-based PSI combine both company's clinical expertise and high-touch patient service models to provide patients, physicians, manufacturers, and payers an industry-leading specialty pharmacy.
"Maxor shares the philosophy of PSI's case management approach to patient care. This model provides individualized patient care along with prompt service to eliminate unnecessary delays in treatment, allowing our patients to achieve optimal benefit from their prescribed therapies," said Keith Sledge, founder and President of PSI.
"Maxor and PSI have both offered innovative, clinically-focused specialty pharmacy services for more than 20 years. Combining these two companies brings national scale, clinical excellence, and operational capabilities while maintaining individual patient focus; enabling us to further lead and serve our Specialty Pharmacy customers," said Mike Ellis, Maxor's CEO.
The transaction is expected to close in the fourth quarter of 2016. Financial terms were not disclosed.
Established in 1926, Maxor is a leading pharmacy services platform that consists of three primary business segments: (i) Maxor Specialty, accredited by the Accreditation Commission for Health Care and IV Solutions, accredited by The Joint Commission, providing specialty pharmacy, respiratory, and home infusion services; (ii) MaxorPlus, providing client and patient-focused pharmacy benefit management (PBM) services with desired clinical outcomes; (iii) Maxor Pharmacy Management and Consulting Services, providing on-site outpatient pharmacy management, 340B audits, and consulting services to hospitals, health systems, Federally Qualified Health Plans, DSH hospitals, and self-funded employer groups.
Pharmaceutical Specialties, Inc. is a leading pharmacy specializing in pulmonary medicine including cystic fibrosis and bronchiectasis, endocrine medicine including growth hormone, and GI medicine including Hepatitis C and Crohn's disease. Since its establishment in 1994, PSI's in-depth expertise and patient-focused approach has consistently achieved optimal outcomes for its patients. PSI is based in northeast Georgia and licensed in 49 states. www.psipharmacy.com