Avella Specialty Pharmacy Agrees to Acquire Advanced Pharma
Avella Specialty Pharmacy has announced that it has signed a definitive agreement to acquire Advanced Pharma, a leading provider of compounded sterile preparations to hospitals and health systems nationwide.
Avella Specialty Pharmacy has announced that it has signed a definitive agreement to acquire Advanced Pharma Inc., a leading provider of compounded sterile preparations to hospitals and health systems nationwide. The transaction is expected to close in the fourth quarter of 2016. With this acquisition, Avella furthers its strategic vision of becoming the leading omni-site specialty pharmacy in the nation. The purchase will also add to the breadth of Avella’s compounding capabilities, clinical services and product offerings.
Advanced Pharma, based in Houston, is an FDA-registered 503B Outsourcing Facility providing compounded products to hospitals, health systems and ambulatory surgery centers nationwide. Most of these medications are administered by injection, IV or pump in the hospital setting and are used to manage pain, dehydration, infection and other serious issues in acute care. Advanced Pharma maintains a state-of-the-art, 35,000-square-foot production facility, which, when coupled with Avella’s clean room facilities in Phoenix, will create industry-leading capacity.
Avella offers breakthrough specialty and compounded medications to patients and providers for the treatment of serious health conditions, such as cancer, hepatitis C, HIV, and a number of other conditions. Avella’s pharmacists partner with providers to serve as a critical member of each individual’s care team. The company also works to improve patient outcomes and reduce cost through services such as its financial assistance programs, medication adherence tools and patient outreach.
“We are very excited to become part of a leading specialty pharmacy with such a strong reputation for clinical excellence,” said Advanced Pharma President Bourjois Abboud. “Avella’s national footprint, deep industry relationships and expertise in this space, combined with Advanced Pharma’s own capabilities and product mix, will position the company for success today and far into the future.”
Advanced Pharma, which will be rebranded as part of Avella after this transaction closes, maintains a strong commitment to excellence in quality and customer service. The organization also shares Avella’s high standards for patient safety, illustrated by Advanced Pharma’s maintenance of current Good Manufacturing Practices in its compounding processes. These combined capabilities made the opportunity to purchase Advanced Pharma particularly attractive to Avella’s leadership.
According to Avella CEO Rebecca M. Shanahan, “Avella immediately recognized the potential of this company in terms of its visionary leadership team and its dedication to providing the highest-quality products to its hospital partners. Like Avella, Advanced Pharma is always striving to provide greater value to clients and the industry at large. The integration of Advanced Pharma’s people, processes and products into our own organization is a natural evolution for Avella’s growth and will position us as the premier national provider of specialty drugs and compounded therapies.”