Centene Signs Agreement to Acquire PantheRx Rare Pharmacy
December 15, 2020
Rare Daily Staff
Healthcare multination Centene Corporation said it has signed a definitive agreement to acquire PantheRx, one of the largest and fastest-growing specialty pharmacies in the United States specializing in orphan drugs and rare diseases.
PantheRx offers a suite of synchronized compliance, logistics, and analytics solutions to help streamline the process of delivering orphan medications and care to people living with complicated rare diseases.
“Centene has a long-standing commitment to providing care to the most underserved, complex populations,” said Michael Neidorff, chairman, president and CEO of Centene. “PantheRx adds a unique capability to our comprehensive pharmacy portfolio. We share a common goal of helping to remove barriers and reduce the burden for our members living with complex and rare diseases.”
PantheRx and its management team will continue to operate independently as part of Centene’s Envolve Pharmacy Solutions, a total drug management program that includes integrated Pharmacy Benefit Manager (PBM) services and specialty pharmacy solutions to millions of members throughout the United States.
“We are elated to enter a partnership that will propel us to the next level and provide opportunities for growth and stability while fostering an independence that delivers greater benefits to our patients, partners and associates,” said Gordon Vanscoy, founder and CEO of PantheRx. “Centene has committed to nurturing our patient-centric culture and focus on quality that is fundamental to PANTHERx’s tremendous success.”
Financial terms of the transaction were not disclosed. The deal is subject to regulatory approvals and is expected to close by the end of 2020.
Michael Neidorff, chairman, president and CEO of Centene
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