Hy-Vee will expand its specialty pharmacy business by acquiring Amber Pharmacy, its partner in Hy-Vee Pharmacy Solutions since 2010.
Specialty pharmacies help patients manage complex, chronic conditions by assigning a healthcare team — an enrollment specialist, pharmacist, patient care coordinator and billing coordinator — to develop an individualized plan for the patient’s clinical care, insurance and financial administrative assistance.
Employee-owned Hy-Vee founded Hy-Vee Pharmacy Solutions four years ago to more economically serve the specialty pharmacy needs of its employees. Since then, it’s expanded its services to customers.
“The partnership between Hy-Vee and Amber Pharmacy has been very successful over the last four years,” said Randy Edeker, chairman, president and CEO of Hy-Vee, in a statement. “Specialty pharmacy continues to experience tremendous growth.”
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Indeed, specialty drugs comprise one of the fastest growing and most profitable areas of pharmacy, according to John Norton, spokesman for the National Community Pharmacists Association, which represents privately owned pharmacies.
“Everyone is seeing this coming surge with these drugs that really cater to specific needs, and with all the medical breakthroughs they become more and more prevalent,” Norton said.
Amber Pharmacy will maintain its existing name and operations. The specialty pharmacy company will operate independently and will continue to be led by current president Michael Agostino and retain all employees.
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