News
AcariaHealth Announces Acquisition of Foundation Care
Date: 10/04/2017
Orlando, FL (October 4, 2017) – AcariaHealth is pleased to announce the acquisition of Foundation Care, a national, full-service specialty pharmacy. Foundation Care provides personalized service to patients with chronic conditions, such as cystic fibrosis, bronchiectasis and diabetes, and is a trusted resource for disease management for patients, physicians and caregivers alike.
“Foundation Care represents a wonderful opportunity to collaborate and grow our companies by jointly building upon our dedication to serving patients and providing exceptional care and support. It also allows us to expand our specialty drug portfolio into cystic fibrosis and gain access to key limited distribution drugs,” said Don Howard, CEO of Envolve Pharmacy Solutions, the specialty pharmacy benefits manager division of Envolve, Inc., an integrated health solutions company. “I am excited to welcome the Foundation Care team to our family of pharmacies.”
Foundation Care, headquartered near St. Louis, Mo., was founded in 2004. It has 245 employees and serves patients across the US. The pharmacy is accredited by URAC, the Pharmacy Compounding Accreditation Board (PCAB), and Verified Accredited Wholesale Distributors (VAWD), among others.
“We are pleased with the opportunity to become part of AcariaHealth, a recognized leader in specialty pharmacy,” said Dan Blakeley, Managing Partner and CEO, Foundation Care. “Together, we’ll work hard to ensure that our pharmacy services fully support patients with cystic fibrosis and other conditions to receive an exceptional level of care and support.”
The deal closed October 1, 2017. Foundation Care is the fifteenth pharmacy under the AcariaHealth brand.
About AcariaHealth
AcariaHealth™, an Envolve Pharmacy Solution, is a national comprehensive specialty pharmacy focused on improving care and outcomes for patients living with complex conditions, such as hepatitis C, multiple sclerosis, oncology, rheumatoid arthritis, hemophilia, cystic fibrosis and other conditions. Offering specialized care management services in these disease states, AcariaHealth is dedicated to enhancing the patient care offering, collaborating with providers and capturing relevant data to measure patient outcomes. To learn more, visit www.acariahealth.com.
Forward-Looking Statements
The company and its representatives may from time to time make written and oral forward-looking statements within the meaning of the Private Securities Litigation Reform Act (“PSLRA”) of 1995, including statements in this and other press releases, in presentations, filings with the Securities and Exchange Commission (“SEC”), reports to stockholders and in meetings with investors and analysts. In particular, the information provided in this press release may contain certain forward-looking statements with respect to the financial condition, results of operations and business of Centene and certain plans and objectives of Centene with respect thereto, including but not limited to the expected benefits of the acquisition of Health Net, Inc. or Fidelis Care. These forward-looking statements can be identified by the fact that they do not relate only to historical or current facts. 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the exertion of management’s time and Centene’s resources, and other expenses incurred and business changes required in connection with complying with the undertakings in connection with certain regulatory approvals for the Health Net acquisition and the Fidelis Care acquisition; disruption from acquisitions, including the Health Net acquisition and the Fidelis Care acquisition, making it more difficult to maintain business and operational relationships; the risk that unexpected costs will be incurred in connection with, among other things, the Health Net acquisition, the Fidelis Care acquisition and/or the successful integration of acquisitions; changes in expected closing dates, estimated purchase price and accretion for acquisitions; the risk that acquired businesses will not be integrated successfully, including the Health Net acquisition and the Fidelis Care acquisition; the risk that the conditions of the Fidelis Care acquisition may not be satisfied or completed on a timely basis, or at all; inability to pursue alternatives to the Fidelis Care acquisition, or the risk that potential competing acquirers of Centene may be discouraged from making favorable alternative transaction proposals due to certain provisions in the Fidelis Care asset purchase agreement; failure to obtain expiration or termination of applicable waiting periods or to receive any required regulatory approvals, consents or clearances for the Fidelis Care acquisition, and the risk that, even if so obtained or received, regulatory authorities impose conditions on the completion of the transaction that could require the exertion of management’s time and Centene’s resources or otherwise have an adverse effect on Centene or the combined company; business uncertainties and contractual restrictions while the Fidelis Care acquisition is pending, which could adversely affect Centene’s business and operations; change of control provisions or other provisions in certain agreements to which Fidelis Care is a party, which may be triggered by the completion of the Fidelis Care acquisition; loss of management personnel and other key employees due to uncertainties associated with the Fidelis Care acquisition; the risk that, following completion of the Fidelis Care acquisition, the combined company may not be able to effectively manage its expanded operations; restrictions and limitations that may stem from the financing arrangements that the combined company will enter into in connection with the Fidelis Care acquisition; Centene’s ability to maintain or achieve improvement in the Centers for Medicare and Medicaid Services (CMS) Star ratings and other quality scores that impact revenue; additional indebtedness incurred or equity issued to finance the Fidelis Care acquisition; availability of debt and equity financing, on terms that are favorable to Centene; inflation; foreign currency fluctuations; and risks and uncertainties discussed in the reports that Centene has filed with the SEC. 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About Envolve Pharmacy Solutions
Envolve Pharmacy Solutions™ provides total drug management that includes integrated pharmacy benefit management, specialty pharmacy and medication delivery services. Envolve Pharmacy Solutions manages pharmacy and medical benefits, cost and drug trend, all under a flexible program designed for plan sponsors and their members.
About Envolve, Inc.®
Envolve, Inc.® is a family of health solutions, working together to make healthcare simpler, more effective and more accessible for everyone. As an agent for change in healthcare, Envolve is committed to transforming the health of the community, one person at a time. Envolve unifies medical management, utilization management, specialty pharmacy, PBM, vision, dental, behavioral health management, life and health/wellness management, empowerment and education services, telehealth services, 24/7 nurse advice services, and data, analytics and IT solutions. For more information, please visit our website www.envolvehealth.com or contact us today at info@envolvehealth.com.