It was recently revealed that Minnetonka, Minnesota-based health care company United Health Group Inc. (UnitedHealth) acquired Avella Specialty Pharmacy (Avella) last quarter. The purchase will serve to further bolster UnitedHealth’s growing number of pharmacy offerings. Financial terms of the transaction have not been disclosed.
The Phoenix, Arizona-based Avella reported a revenue of $1.35 billion last year, and has a three-year revenue growth of 71% according to its listing on the Inc. 5000, a list of America’s top entrepreneurs and fastest growing organizations. According to statements from Optum, the acquisition will improve specialty-pharmacy care services and health outcomes for consumers, while helping to reduce overall health care costs, as well.
UnitedHealth Group Inc. is a for-profit managed health care company based in Minnetonka, Minnesota. Avella Specialty Pharmacy, formerly known as The Apothecary Shops, is an American specialty pharmacy company.
This was reported by Bloomberg on October 16, 2018.
Contact Information: UnitedHealthcare, 9800 Health Care Lane, Minnetonka, Minnesota 55343; (800) 842-3585; Website: www.uhc.com
Contact Information: Avella Specialty Pharmacy, Inc., 24416 North 19th Avenue, Phoenix, Arizona 85085; (877) 546-5779; Website: www.avella.com