CHI, Intermountain, Fairview Become Majority Owners of Pharmacy Company

Three leading health systems have invested capital and committed resources to expand Excelera Corp., an investor-owned and national specialty pharmacy network.

Excelera was created in 2012 to help health systems and academic medical centers get access to specialty pharmaceuticals for patients who have complex conditions.

Englewood, Colo.-based Catholic Health Initiatives, Salt Lake City-based Intermountain Healthcare and Minneapolis-based Fairview Health Services have agreed to become majority investor members for Excelera. Four other health systems are also part of the company: Detroit-based Henry Ford Health System, Sioux Falls, S.D.-based Avera Health, Marshfield (Wis.) Clinic and Rapid City, S.D.-based Regional Health.

According to Excelera's website, integrated delivery networks and academic medical centers created the company due to "restrictive payer contracting and pharmaceutical distribution practices," which they say "play a major role in diverting specialty pharmacy volume to for-profit companies and fragmenting the care of those [chronically ill] patients."

CHI, Intermountain and Fairview officials said their partnership with Excelera will build a network that will focus on better outcomes for patients who need specialty drugs.

"Excelera supports exceptional treatment for patients with chronic and acute illnesses by improving access to specialty pharmacy services," Dan Fromm, Fairview senior vice president and CFO, said in a news release. "Specialty pharmaceuticals are expensive drugs that may require special handing, special administration and often treat the most ill and clinically complex patients. By establishing best-practice care protocols and managing specialty pharmaceuticals at the point of care, we believe we can positively impact clinical outcomes and the experience of our patients and caregivers."

More Articles on Hospital Finance Initiatives:
Edward Hospital Invests in 2 Surgery Centers
Audit Firm Owned by Ascension, CHI Acquired by Crowe Horwath
Catholic Health Partners to Acquire Kaiser's Ohio Health Plan

Copyright © 2024 Becker's Healthcare. All Rights Reserved. Privacy Policy. Cookie Policy. Linking and Reprinting Policy.


Featured Whitepapers

Featured Webinars