Centene Corp. (CNC: Quote) Monday said it has signed a definitive agreement to acquire Specialty Therapeutic Care Holdings, Inc., one of the nation's largest, independent, comprehensive specialty pharmacy companies, from Enhanced Equity Funds and affiliates for $152 million.
The transaction consideration is anticipated to be financed through a combination of Centene common stock, cash on hand and existing credit facilities.
The acquisition is expected to close in the first quarter. The company expects the acquisition to be neutral to earnings per share in the first 12 months following the acquisition, excluding one-time transaction costs.
With this transaction, US Script, Centene's pharmacy benefit manager, will now have a sister company that will expand its specialized pharmacy benefit services for complex diseases, such as Hepatitis C, Hemophilia, Multiple Sclerosis, Rheumatoid Arthritis and Oncology.
AcariaHealth's specialty pharmacy platform will enhance US Script's ability to serve as a stand-alone pharmacy benefit management company.
Jason Harrold, Executive Vice President, Specialty Companies for Centene, said, "This integrated approach, particularly with high cost specialty drugs, will allow us to better serve the needs of our members, including the high-acuity populations such as the Aged, Blind or Disabled and Dual Eligibles.''
by RTT Staff Writer
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