We’ve often written about companies that work with hospitals to develop owned-and-operated specialty pharmacies. Those pharmacies boast that they that are significantly better than independent specialty pharmacies and they deserve to keep the prescriptions that their doctors write. Such companies include Shields Health (which acquired competitor ExceleraRx now part of Walgreens) as well as TrellisRx (acquired by CPS Solutions).
The valuation of these acquired companies were astronomical and that kind of $opportunity$ attracts even more competition. Some weeks ago, Cornerstone Health Solutions, which builds ‘specialty pharmacy accelerator programs’ for hospitals and health systems, announced that they are going head-to-head with Shields and CPS. They rebranded the company Clearway Health. Name aside, it portends more competition for independent specialty pharmacies as health systems rush to open their own specialty pharmacies.
It is noteworthy that the genesis of Clearway Health is Bahston Medical Center Health Systems….. oops, Boston. It is unique that a hospital system has started a dedicated business targeting the creation of specialty pharmacies for other hospitals . Their press release said, “Clearway Health joins with hospitals and health systems to improve access to care and manage the complex medication needs of patient populations – strengthening the patient experience and driving revenue for clients.”
Time will tell if Clearway Health will be a better mousetrap.
