Walgreens paying $225 million for parts of BioScrip’s business

Walgreens is acquiring parts of BioScrip’s specialty and mail-service pharmacy operations for approximately $225 million, the company announced.

Walgreens said it will acquire BioScrips’ centralized specialty pharmacy business and traditional mail-order pharmacy business that dispenses scripts for drugstore.com, which Walgreens acquired last year, and others. Walgreens will also take on BioScrips’ community specialty pharmacy business, which primarily serves HIV, oncology, and transplant patients, and operates 30 locations.

The acquisition will help grow Walgreens centralized specialty and mail-service pharmacy operations, the company said. BioScrip, meanwhile, said it plans to expand in its core strategic growth areas: infusion pharmacy and home health services. BioScrip will also maintain its pharmacy benefit management and cash card business.

“Many of our patients will benefit from expanded access to new and limited distribution of drugs for chronic conditions such as HIV, cancer, and organ transplant. This acquisition also significantly expands our nationwide reach to an additional half-million patients with chronic and complex health conditions who have strong clinical relations with their current BioScrip pharmacy,” Greg Wasson, president and CEO of Walgreens, said in a press release.

The transaction includes a plan to transfer the servicing of BioScrip patients for the central specialty pharmacy and mail-service businesses to existing Walgreens facilities. BioScrip will continue to service its infusion patient base through existing BioScrip pharmacy facilities.