Elevance Health to acquire specialty pharmacy BioPlus

The seller is CarepathRx, a portfolio company of Nautic Partners.

  • The acquisition is expected to close in the first half of 2023
  • Headquartered in Indianapolis, Elevance Health is a health insurance provider
  • Nautic Partners targets the healthcare, industrials and services sector

Elevance Health has agreed to acquire BioPlus, a specialty pharmacy. The seller is CarepathRx, a portfolio company of Nautic Partners. No financial terms were disclosed.
Headquartered in Indianapolis, Elevance Health is a health insurance provider.

“As a trusted, lifetime health partner, the acquisition of BioPlus helps us deliver on our whole-health strategy that gives our consumers improved access and reliability to their prescriptions when they need it most,” said Pete Haytaian, executive vice president, Elevance Health and president of Carelon, in a statement. “In making BioPlus part of the Elevance Health family, we are committed to leveraging our resources to scale and broaden the reach of BioPlus’ best-in-class specialty pharmacy capabilities, delivering greater affordability and access to critical medications.”

After the acquisition closes, the specialty pharmacy will operate as part of IngenioRx, Elevance Health’s pharmacy benefit manager within Carelon, Elevance Health’s healthcare services brand.

The acquisition is expected to close in the first half of 2023.

Nautic Partners is a middle-market private equity firm that focuses on three industries: healthcare, industrials and services.