Elevance Health completes BioPlus acquisition

Indianapolis-based Elevance Health (NYSE: ELV) has finalized its agreement with Washington-based CarepathRx to acquire BioPlus, a comprehensive specialty pharmacy. Financial terms of the deal were not disclosed.

Elevance says the acquisition will help it meet the specialty drug needs of its clients and customers.

BioPlus provides specialty pharmacy services for patients living with complex and chronic conditions, such as cancer, multiple sclerosis, hepatitis C, autoimmune diseases, and rheumatology.

Elevance says BioPlus will now operate as part of CarelonRx, Elevance’s pharmacy benefit manager within Carelon.

“Specialty pharmacy is a critical driver of value for patients, and we are excited to welcome BioPlus, the largest independent specialty pharmacy, to our Elevance Health family,” said Elevance Health Executive Vice President Pete Haytaian. “Together, we will enhance our abilities to provide end-to-end pharmacy services for our consumers by delivering greater affordability and access to critical medications, as well as a superior patient experience.

The company entered into acquisition talks last November.