In brief: A&D, PharMerica close out year with buys
SAN JOSE, Calif. – A&D Company has entered into a definitive agreement to buy the necessary business assets of Toronto-based Auto Control Medical. The deal allows A&D to expand its product range and application experience across the Americas. A&D provides a full line of advanced biometric monitoring solutions, including blood pressure monitors, weight scales, activity monitors and other health monitoring devices for consumer and professional use. Auto Control Medical distributes hypertension, diabetes and respiratory products in Canada. Per the deal, Auto Control Medical will initially operate as a division of A&D Canada. Its current executive team, as well as its sales team and support staff, will continue to manage the company. The deal is scheduled to close in January.
PharMerica closes year with two buys
LOUISVILLE, Ky. – Amerita, a subsidiary of PharMerica, a national provider of institutional and specialty pharmacy services, has acquired Alternacare Infusion Pharmacy, an Olathe, Kan.-based specialty home infusion provider. PharMerica also announced that it has completed its acquisition of Integrated Pharmacy Network, a Midland, Mich.-based long-term care pharmacy. With these deals, PharMerica has achieved its goal of completing acquisitions that generate at least $100 million of annualized sales, in aggregate, in 2015, according to a press release from The Braff Group, which served as the M&A adviser to Alternacare. “2015 is shaping up to be a strong year in infusion therapy mergers and acquisitions,” said Reg Blackburn, managing director of pharmacy services for The Braff Group. “Through the third quarter of this year, infusion deal volume is up more than 80% vs. the same period in 2014. Moreover, 2015 has already produced two new private equity sponsored platform deals, clearly signaling that after a sustained period of M&A activity, the sector still has legs.”
Liberator to finalize settlement agreement
STUART, Fla. – Liberator Medical Holdings has entered a definitive agreement to settle all allegations related to a complaint that it had violated the False Claims Act, it announced Dec. 22. Liberator previously announced it had reached an agreement in principle to settle the allegations in a civil qui tam complaint. The mail order provider will pay $500,000, along with its share of the plaintiffs’ legal expenses, according to a press release. Liberator was accused of engaging in illegal kickback arrangements with Coloplast. Other defendants included Hollister, 180 Medical, A-Med Health Care Center, Byram Healthcare Centers, CCS Medical, RGH Enterprises d/b/a Edgepark Medical Supplies, and Shield California Health Care Center. Liberator in November announced that it would be sold to C.R. Bard, a manufacturer of medical devices for vascular, urology, oncology and surgical specialty supplies for $181 million. The deal is expected to close in the first quarter of 2016.
Med sync programs work, according to NCPA survey
ALEXANDRIA, Va. – Medication synchronization programs can benefit pharmacists and patients, according to a survey of pharmacies that are using the Simplify My Meds program created by the National Community Pharmacists Association. Pharmacies reported that SMM increased their efficiency and balanced their workflow, and increased patient satisfaction. “Med sync programs, such as Simplify My Meds, are critical to achieving greater patient adherence,” said NCPA CEO Douglas Hoey, RPh. “Non-adherence to medication is estimated to cost the healthcare system as much as $290 billion annually through necessitating costly procedures or hospitalizations that could otherwise have been prevented.” SMM is used by more than 2,600 independent pharmacies nationwide.