McKesson announced Monday that it signed a definitive agreement to buy Rx Savings Solutions for up to $875 million.
Rx Savings Solutions contracts directly with payers and large, self-funded employers to “maximize the effectiveness of benefit design” and deliver prescription drug cost savings for members. Rx Savings Solutions reaches more than 17 million patients, according to a company press release.
Additionally, the company uses an evidence-based algorithm to assist members with information about available therapy options and cost-effective prescription alternatives covered through their insurance.
The move signals McKesson’s latest effort to boost access, affordability and adherence to prescription drugs across the healthcare system.
The transaction includes a $600 million upfront payment and $275 million of consideration based on Rx Savings’ financial performance through 2025. As part of the deal, Rx Savings will become part of McKesson’s prescription technology solutions segment.
McKesson added that it plans to use Rx Savings as a foundation to establish outcomes management programs for health plans and biopharma companies.
“We expect the acquisition of Rx Savings Solutions to accelerate McKesson’s growth priority in biopharma services by extending our ecosystem of differentiated medication access solutions to patients,” McKesson CEO Brian Tyler said in a statement. “Together with Rx Savings Solutions, McKesson will amplify our efforts to advance health outcomes for all.”
The deal is expected to close in the second half of the 2023 fiscal year, pending customary closing conditions and regulatory review.
