Diplomat Pharmacy Inc., a Flint-based company that offers personalized medication for those with specialized needs, today announced it will acquire BioRx, a specialty pharmacy in Cincinnati.
“The combined resources of both companies will make us much stronger and unique within the infusion services industry,” says Phil Hagerman, chairman and CEO of Diplomat. “The specialty pharmacy market has evolved substantially over the last decade.”
Diplomat Pharmacy, started in 1973, provides medications for such illnesses as Crohn’s Disease, psoriasis, and cystic fibrosis. The specialized medications work to reduce side effects and eliminate negative drug interactions. BioRx provides a similar product, and operates numerous pharmacy and office locations across the U.S.
As part of the agreement, BioRx co-founders Phil Rielly and Eric Hill will continue to lead the new combined organization move forward.
“Since we started BioRx in 2004, our goal has been to build the country’s most patient-centered specialty pharmacy that focuses on chronic and complex therapies. Diplomat shares this focus,” Rielly says.
The terms of the transaction were not disclosed, is expected to close in March.