Coram acquisition is in line with CVS Caremark’s strategy
CVS Caremark is looking to acquire Coram, the specialty infusion services and enteral nutrition business unit of Apria Healthcare Group, for roughly $2.1 billion. Coram provides infusion therapies and nutrition services to more than 20,000 patients each month.
The acquisition is a significant move for CVS Caremark given the growth of the home infusion business and specialty pharmacy. Furthermore, it enables CVS Caremark to further leverage its “integration sweet spots” and is in line with the company’s strategy of investing in core businesses that will help drive growth.
The infusion services market is estimated to be around $11 billion and the acquisition will undoubtedly enable CVS Caremark to compete in the growing market as specialty infusion drugs account for a significant portion of new drugs in the pipeline.
CVS Caremark executives have long expressed the company’s commitment to expanding its role in specialty pharmacy. Specialty currently represents about 20% of the total drug spend today, but that number is projected to rise to more to than 30% by the end of the decade.
As the company has stated, this move enables CVS Caremark to be a full-service specialty provider and helps the retailer bring new approaches to market that improve the management of specialty pharmacy costs that are covered through the medical or pharmacy benefit, depending on the site of care.
Rememband announces Kickstarter launch for new bracelet
MINNEAPOLIS — Rememband announced on Monday the launch of the Rememband silicon bracelet on Kickstarter, a crowd-funding website.
Rememband differs from other silicon bracelets because of its writeable insert, which unlocks two potential uses for consumers. It can serve as a memory aide that can be easily updated on the fly. Rememband owners also could use the insert to create a personalized design.
"From the initial response to Rememband, things are already looking good!" Bruce Allen, creator of Rememband, said. "I’m excited to hear back from Kickstarters about the project. The feedback we’ve gotten during development has been overwhelmingly positive. I hope we attain our Kickstarter goal so we can get a final version and get some more feedback from people."
Further developments for the product are planned to roll out over the next 12 months.
Family Dollar supply chain executive resigns from post
MATTHEWS, N.C. — Family Dollar Stores last week announced that Jeffrey Macak, EVP supply chain, has resigned from the company for personal reasons, effective Nov. 27.
The dollar store operator intends to conduct a search for Macak’s replacement.
Macak had been named to the post in September. He had come from Bed Bath & Beyond, where he served as VP global supply chain for 13 years.