Franklin Nova Group Supports UPMC in Formation of Landmark Partnership With CarepathRx
Franklin Nova’s Expertise in Healthcare Valuation Provides Strategic Guidance
December 1, 2020 – CarepathRx, a leader in pharmacy and medication management solutions for vulnerable and chronically ill patients, announced today a partnership with UPMC’s Chartwell subsidiary that will expand patient access to innovative specialty pharmacy and home infusion services. Under the landmark agreement, CarepathRx will acquire the management services organization responsible for the operational and strategic management of Chartwell while UPMC becomes a strategic investor in CarepathRx. Franklin Nova’s Valuation Advisory Practice, led by Franklin Nova Executive Director Brian Sarkis, worked closely with UPMC’s management team to finalize terms of the agreement.
“The cross-functional expertise of our valuation team allows us to provide specialized valuation services with contextual knowledge of our client’s industry,” said Sarkis. “With the UPMC and CarepathRx transaction, we advised UPMC as to the most optimal value of its new partnership agreement.”
CarepathRx is transforming pharmacy care delivery for health systems and hospitals, delivering improved patient outcomes that drive clinical, quality and financial results. Through the industry’s most comprehensive, end-to-end hospital pharmacy care delivery model, CarepathRx is turning hospital pharmacy into an active care management strategy and revenue generator while providing support across the patient’s complete healthcare journey. The company takes an enterprise approach, providing a powerful combination of technology, market-leading clinical pharmacy services, and wrap-around services that optimize pharmacy performance across the enterprise for fully integrated pharmacy operations, expanded healthcare services, improved ambulatory access, minimized clinical variation and new health system revenue streams. Today, CarepathRx serves more than 15 health systems and 600 hospitals, with more than 1,500 employees nationwide. For more information about CarepathRx, visit www.carepathrxllc.com.
A $21 billion health care provider and insurer, Pittsburgh-based UPMC is inventing new models of patient-centered, cost-effective, accountable care. The largest nongovernmental employer in Pennsylvania, UPMC integrates more than 90,000 employees, 40 hospitals, 700 doctors’ offices and outpatient sites, and a 3.8 million-member Insurance Services Division, the largest medical insurer in western Pennsylvania. In the most recent fiscal year, UPMC contributed $1.4 billion in benefits to its communities, including more care to the region’s most vulnerable citizens than any other health care institution, and paid more than $500 million in federal, state and local taxes. Working in close collaboration with the University of Pittsburgh Schools of the Health Sciences, UPMC shares its clinical, managerial, and technological skills worldwide through its innovation and commercialization arm, UPMC Enterprises, and through UPMC International. U.S. News & World Report consistently ranks UPMC Presbyterian Shadyside among the nation’s best hospitals in many specialties and ranks UPMC Children’s Hospital of Pittsburgh on its Honor Roll of America’s Best Children’s Hospitals. www.UPMC.com.
Learn More About Franklin Nova Service Offerings
Brian Sarkis - 412.206.1486