BREAKING: Omnicell Buys PSG’s 340B Line of Business, the Latest in a Trend of 340B TPA Acquisitions
Omnicell Buys PSG’s 340B Line of Business, the Latest in a Trend of 340B TPA Acquisitions
Omnicell Inc., a leading provider of automated drug dispensing systems and other prescription drug supply chain products and services, has agreed to buy Pharmaceutical Strategies Group’s 340B Link business, PSG’s 340B third party administrator (TPA) suite of services. (PSG is a 340B Report sponsor.) Omnicell, which is based in Mountain View, Calif., will pay PSG $225 million for 340B Link.
The acquisition reflects a trend in the 340B TPA industry that began several years ago. MacroHelix is owned by drug distributor McKesson Corp.; Wellpartner by PBM/retail pharmacy/insurance conglomerate CVS Health; Verity Solutions by Express Scripts, the PBM subsidiary of insurance company Cigna; and SunRx by the PBM MedImpact. A number of the other 340B TPAs have received significant investments from or have been acquired by private equity firms.