Investment firm KKR closed its purchase of BrightSpring Health Services on March 5.
BrightSpring has now officially merged with PharMerica Corporation, lending it a large footprint in pharmacy services for high-need and medically complex populations. The combined company now serves more than 300,000 clients daily in 47 states, Puerto Rico and Canada, with combined revenue of approximately $4.5 billion.
“Combining BrightSpring and PharMerica brings together two well-respected, high-quality and innovative leaders within their markets,” said Jon Rousseau, president and CEO of BrightSpring and chief executive officer of PharMerica. Rousseau will lead the combined enterprise as CEO, with Bob Dries named president of PharMerica.
The deal was originally announced on Dec. 10, with KKR buying BrightSpring for around $1.32 billion. Walgreens Boots Alliance Inc. is a minority investor. BrightSpring and PharMerica will remain at their headquarters in Louisville, KY.
“Together, we will have unmatched capabilities to drive improved outcomes and reduced costs through integrated service and care models for all of the people and stakeholders we serve,” Rousseau said. “Through the combination of our community-based health services and pharmacy capabilities, our complementary offerings will have valuable benefits to our clients, patients and customers and provide new opportunities together.”
In February, BrightSpring announced some executive additions. Susan Sender took over as the company’s chief clinical officer, while Rachael Kurzer Givens was named chief compliance officer.
Finally, MatrixCare announced it had entered a national pharmacy integration and electronic medication administration record agreement with PharMerica. It covers National Council for Prescription Drug Programs bidirectional e-prescribing with MatrixCare’s customer facilities and pharmacy-centric order entry integration with its CareAssist platform.
From the April 1, 2019 Issue of McKnight's Long-Term Care News
