With BioRx deal closed, Diplomat becomes one of nation's largest specialty infusion providers

FLINT, Mich. - Diplomat Pharmacy announced Wednesday it has completed the acquisition of BioRx, a highly specialized pharmacy and infusion services company that provides treatments for patients with ultra-orphan and rare, chronic diseases. With the close of this acquisition, the combined resources and capabilities will make Diplomat one of the nation's largest specialty infusion providers.

 

Diplomat and BioRx are dedicated to personalized medication therapies for patients with chronic and complex therapies. "The combined resources of both companies will better serve our patients with broader access to limited distribution drugs as Diplomat and BioRx manage a strong therapy mix," stated Phil Hagerman, Diplomat chairman and CEO. "The combination furthers our capabilities to roll out services to a larger national geographic footprint which will strengthen our ties with pharmaceutical manufactures by satisfying their demand for multi-channel reach."

 

"For payor partners, our expanded offering improves our ability to take care of patients regardless of benefits," said Phil Reilly, co-founder of BioRx. 

 

Both BioRx co-founders, Rielly and Eric Hill, have made multi-year commitments to help lead the combined infusion services organization going forward.

 

Under the terms of the agreement, Diplomat is paying BioRx $210 million cash and approximately 4.05 million shares of Diplomat common stock. In 2014, BioRx generated approximately $227 million in revenue.