UPMC to sell pharmacy business for $400M

Pittsburgh-based UPMC has agreed to sell its pharmacy subsidiary, Chartwell, for $400 million to CarePathRx, the companies announced Dec. 1. 

Chartwell is the health system's home infusion and specialty pharmacy company. CarePathRx, founded in 2019 and based in Mercer Island, Wash., helps patients undergoing complicated medication therapies, focusing on specialty and infusion therapies for chronic illnesses. 

"Chartwell's agreement with CarepathRx will allow other health systems to benefit from the pharmacy model that UPMC has created, while delivering even better care and service for our patients and Health Plan members," Leslie Davis, senior vice president of UPMC and executive vice president and COO of the health services division, said in a news release.

The deal is expected to close in 30 days. 

Read the full news release here.

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