Wauwatosa-based Serve You Custom Prescription Management Inc.
has acquired the New England Mail Order Pharmacy business from Middlebury, Vermont-based Pharmacy Health Services Inc.
Serve You Rx Vermont LLC, a subsidiary of Serve You, will integrate the new addition. The NEMOP operations and staff in Middlebury will remain in place.
Founded in 1987, Serve You is a pharmacy benefit manager. The company works with benefit and insurance brokers, as well as employers, unions, coalitions and government entities across the country to manage prescription costs.
With the acquisition of NEMOP, Serve You will be better able to service the mail order pharmacy needs of its growing PBM membership in the New England states, the company said in a statement.
"We're positioning ourselves for geographic expansion, so it was perfect timing for this opportunity to present itself," said Sharon Murillo, president and chief executive officer of Serve You. "Like us, NEMOP has a high-touch service model, which makes it a great fit. NEMOP also brings experience in 340B, complementing our existing mail order fulfillment capabilities."
The 340B drug pricing program requires drug manufacturers to offer outpatient drugs to eligible health care organizations or covered entities at reduced prices.
Serve You also is expanding its Milwaukee PBM and mail order pharmacy, Serve You DirectRx Pharmacy, doubling the size of the pharmacy and dramatically increasing its capacity for prescription dispensing.
"We are making large strides in penetrating new markets around the country and are committed to growth while maintaining the service promise that Serve You is known for," Murillo said.
Serve You representatives could not be reached for further information about the expansion.