PharMerica Signs Exclusive Agreement with Innovatix, LLC

NEW YORK--()--PharMerica Corporation (NYSE:PMC), a national leader in institutional and specialty home infusion pharmacy services with more than 90 locations across 45 states, has signed a three-year agreement with Innovatix, LLC, a full service non-acute care group purchasing organization co-owned by subsidiaries of GNYHA Ventures and Premier, Inc. (Nasdaq:PINC).

Under the agreement, Innovatix will serve as PharMerica’s exclusive GPO beginning January 1, 2014, and will support PharMerica’s institutional and specialty pharmacy purchasing needs through Innovatix’s network of pharmaceutical and ancillary suppliers. Innovatix will also work with Premier, a leading healthcare improvement company, to ensure Pharmerica is using appropriate products to support its contracting needs.

Additionally, PharMerica will be a member of InnovatixCares, LLC, a new population health management network, whose objective is to achieve better patient care through effective integration of post-acute care providers and emerging Accountable Care Organizations (ACO). InnovatixCares is working with Premier’s PACT Population Health Collaborative to create a comprehensive ACO solution linking providers across the care continuum.

“At the conclusion of a competitive proposal process, we are pleased that PharMerica has chosen Innovatix as its exclusive purchasing organization,” Innovatix President and CEO John P. Sganga said. “By leveraging our pharmacy expertise and the extensive portfolio we share with our national partner Premier, Inc., we believe Innovatix will deliver exceptional value and unparalleled service to PharMerica.”

Commenting about the selection process, Greg Weishar, President and CEO of PharMerica said, “Our selection of Innovatix came after a lengthy and thorough process. Choosing to partner with Innovatix represented the best choice in light of our own strategic initiatives and market expansion into home infusion and specialty. Additionally, we believe ACOs will play an emerging role in coordinating patient care in the years ahead and believe Innovatix is well positioned to assist us in partnering with ACOs, hospitals and physicians.”

“This partnership is aligned with our long-term strategic vision to help alternate site providers manage care more efficiently and effectively,” said Durral R. Gilbert, Premier’s President of Supply Chain Services. “Premier looks forward to working closely with PharMerica and Innovatix to support and advance patient-centered care.”

Sganga added, “We are proud to add PharMerica as a member and look forward to the additional value and opportunity this new relationship will bring to all Innovatix members.”

About PharMerica: PharMerica Corporation is a leading institutional pharmacy services company that services healthcare facilities in the United States, provides pharmacy management services to hospitals, and also provides specialty infusion services to patients outside a hospital setting. As of September 30, 2013, PharMerica operated 90 institutional pharmacies and 12 specialty infusion centers in 45 states. PharMerica's customers are institutional healthcare providers, such as skilled nursing facilities, nursing centers, assisted living facilities, hospitals, individuals receiving in-home care, and other long-term alternative care providers.

About Innovatix: Innovatix is a full-service group purchasing organization serving over 17,500 non-acute care facilities throughout the United States, including long term care, specialty, and infusion pharmacies, as well as nursing homes and assisted living facilities. Innovatix is a joint venture between a subsidiary of GNYHA Ventures, Inc. and a subsidiary of Premier, Inc. Innovatix is dedicated to maintaining and growing a contract portfolio that supports our members’ goals to reduce expenses and enhance the quality of services and care provided.

About Premier, Inc., Malcolm Baldrige National Quality Award recipient: Premier, Inc. (Nasdaq:PINC) is a leading healthcare improvement company, uniting more than 2,900 U.S. hospitals and nearly 100,000 other providers to transform healthcare. With integrated data and analytics, collaboratives, supply chain solutions, and advisory and other services, Premier enables better care and outcomes at a lower cost. Premier plays a critical role in the rapidly evolving healthcare industry, collaborating with members to co-develop long-term innovations that reinvent and improve the way care is delivered to patients nationwide. Headquartered in Charlotte, N.C., Premier is passionate about transforming American healthcare.

Contacts

GNYHA Ventures
Eric Rodriguez, 212-554-7261
Jr. Brand Manager, Corporate Communications
erodriguez@innovatix.com

Release Summary

PharMerica Corporation (NYSE:PMC), a national leader in institutional and specialty home infusion pharmacy services, has signed a three-year agreement with Innovatix, LLC.

Sharing

Contacts

GNYHA Ventures
Eric Rodriguez, 212-554-7261
Jr. Brand Manager, Corporate Communications
erodriguez@innovatix.com