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FOR IMMEDIATE RELEASE
McKesson Specialty and Managed Health Care Associates Announce MHA’s Acquisition of PBI Scottsdale, AZ – Aug. 21, 2006 – McKesson Specialty, a division of McKesson Corporation, and Managed Health Care Associates, Inc., (MHA), the nation’s largest alternate site group purchasing organization (GPO), announced MHA’s acquisition of Pharmaceutical Buyers, Inc. (PBI), a McKesson Specialty business headquartered in Broomfield, CO, effective August 18, 2006. Details of the transaction are not being disclosed.
PBI is an alternate site GPO specializing in home infusion, long-term care (LTC), hospice, compounding pharmacies and home medical equipment (HME) dealers. PBI’s 4,000 members have access to more than 250 contracts with branded and generic pharmaceutical manufacturers.
“With PBI’s focus on GPO services for the home infusion and LTC pharmacy markets and McKesson Specialty’s plan to strengthen its positions in specialty pharmacy and physician-based oncology services, the acquisition of PBI by MHA will enable all companies involved to serve their core business segments most successfully,” said Pat Blake, President, McKesson Specialty.
MHA provides GPO services to LTC pharmacies, home infusion pharmacies and other alternate site locations. MHA also provides managed care contracting services to LTC pharmacies, allowing them to obtain improved contracts from Prescription Drug Plans under the Medicare Part D drug benefit.
“The purchase of PBI is consistent with MHA’s strategic plan to increase its industry leadership position through acquisition and organic growth,” stated Douglas Present, chairman and CEO of MHA. “MHA is already the nation’s largest provider of GPO services for LTC pharmacies. With this acquisition, we will become the largest provider of GPO services for the home infusion class of trade as well. We are looking forward to working with the PBI management team to successfully integrate the two businesses.”
According to PBI President Richard Bulich, “Strategically, this acquisition makes sense and will greatly benefit our joint member base. By combining our complementary services and expertise, we can offer the most comprehensive range of alternate site GPO resources.”
“The PBI team and I are looking forward to working with Doug and the MHA organization,” said Lisa DiSalvo, Vice President of Planning and Operations for PBI. “We are pleased that we will be able to provide even better service for our members.”
About MHA Managed Health Care Associates, Inc. (MHA) has grown to become the market leading alternate site GPO and long-term care (LTC) pharmacy network manager servicing the independent LTC pharmacy industry. MHA’s success is driven by unparalleled member support, competitive contracts, and the ability to create sophisticated, customized, web tools and reports designed to increase savings and promote profitability. Members utilize MHA’s services to assist in the purchasing of a complete line of pharmaceuticals, medical supplies, capital equipment and food, as well as network access to the majority of the largest national and regional prescription drug plans managing the newly created Medicare Part D drug benefit. MHA also offers a variety of services to medical supply, pharmaceutical manufacturers and prescription drug plan organizations, including contract administration, marketing and continuing education. For more information, visit www.mhainc.com.
About PBI PBI is a buying group serving the broad spectrum of alternate site health care providers, including home infusion pharmacies, long-term care pharmacies, durable medical equipment providers, oncology clinics, mail-service pharmacies, medical distributors, surgery centers, specialty pharmacies and home health providers. By delivering contracts and services to meet the widest range of product needs, PBI assures its 4,000 members have flexibility to quickly implement new therapies, optimize changes in the market and reduce the impact of reimbursement regulations. For more information, visit www.pbigpo.com.
About McKesson McKesson Corporation (NYSE:MCK), currently ranked 16th on the FORTUNE 500, is a healthcare services and information technology company dedicated to helping its customers deliver high-quality healthcare by reducing costs, streamlining processes and improving the quality and safety of patient care. Over the course of its 173-year history, McKesson has grown by providing pharmaceutical and medical-surgical supply management across the spectrum of care; healthcare information technology for hospitals, physicians, homecare and payors; hospital and retail pharmacy automation; and services for manufacturers and payors designed to improve outcomes for patients. For more information, visit us at www.mckesson.com.
About McKesson Specialty McKesson Specialty (www.mckesson.com) is a division of McKesson Corporation. McKesson Specialty delivers the services manufacturers, payors and providers need to ensure pharmaceutical products, coordinated reimbursement, and clinical services are available to patients with complex diseases.
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Corporate
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Managed Health Care Associates, Inc. jamendola@ACmarketingPR.com Amendola Communications for McKesson Specialty |