LTC pharma provider grows
A big-name New Jersey pharmacy provider for the long-term care field is spreading its reach with two recent acquisitions.
PharmScript of Somerset, NJ, announced last week that it is acquiring other players in the space. Those include Massachusetts-based Arxcare, which will allow the pharmacy care provider to spread into the Bay State, along with Maine, New Hampshire and Vermont. They're also obtaining the firm Vinze Pharmcare, which allows the New Jersey provider to offer services in Ohio, according to a statement.
The firm says it's also looking to build what it calls “state-of-the-art” pharmacy facilities in Ohio and Massachusetts to allow it to better serve the long-term care crowd in those states. Pharmscript, which labels itself as the fourth-largest U.S. LTC pharmacy chain, has around 400 long-term and post-acute care facilities in 17 states, offering such services as quality assurance and technology that assists providers in administering meds, according to the statement.
“We are excited to have Arxcare and Vinze, as well as their clients, join PharmScript,” CEO Michael Segal said in a press release.