AnewHealth Announces Strategic Investment from The Vistria Group and Acquisition of HomeFree
AnewHealth will merge HomeFree with its national medication management and pharmacy provider, ExactCare, to further amplify its focus on improving clinical and cost outcomes for the most complex patients in healthcare
CLEVELAND, OH and MOORESTOWN, NJ, July 22, 2024 (GLOBE NEWSWIRE) — AnewHealth, a national pharmacy care management provider that improves healthcare outcomes for people with complex, chronic medical needs, today announced the company’s acquisition of HomeFree Pharmacy Services. With the closing of this transaction, HomeFree has become part of the AnewHealth suite of comprehensive at-home pharmacy solutions, which has been purposefully designed to transform the role of pharmacy in managing clinical and cost outcomes for the most complex patients in the healthcare system.
AnewHealth collaborates with healthcare organizations to reach these complex patients and has well-established, long-standing partnerships with many of the top home health providers, primary and specialty care providers, risk-bearing organizations like PACE, and managed care plans. The company’s robust suite of solutions—which includes comprehensive clinical pharmacy care and national medication dispensing, MedWise® science-based technology to personalize medication regimens, and full-service pharmacy benefit management—helps partners achieve clinical, quality and financial goals including improved adherence, reduced unplanned facility utilization, lower all-cause mortality rates, reduced medical expenditures, and lower total cost of care.
“At AnewHealth, we firmly believe that to successfully manage more complex health needs, the delivery of pharmacy care has to evolve beyond being a transactional experience,” said John Figueroa, CEO of AnewHealth. “That’s why HomeFree is such a natural fit for us. By combining the established expertise of HomeFree and ExactCare, we will further strengthen our dedication to delivering a comprehensive level of pharmacy and medication-related care for those patients we know require enhanced support to safely manage their health at home—which is where they want to be and where their healthcare providers want them to be, as long as possible. We will take best practices from both organizations to expand and enhance the care that we provide.”
Today, HomeFree serves nearly 5,000 patients in 33 states and has strong partnerships with a number of national home health providers. With the addition of HomeFree, AnewHealth serves nearly 110,000 patients nationwide, with established facility capacity for immediate growth to expand care for the millions nationwide who need access to in-home medication support to maintain their health, avoid unplanned hospital and ER visits, and thrive in the home-based settings of their choice.
“We know that a more comprehensive approach to pharmacy care is more effective for these complex populations, and AnewHealth has demonstrated that impact through measurable improvements in adherence, reductions in avoidable healthcare utilization, and lower total cost of care,” said Brian Adams, President, AnewHealth. “Beyond that, patients who receive pharmacy services delivered through AnewHealth have clearly and consistently validated the value of this elevated care experience through Net Promoter Score ratings that far surpass traditional pharmacy care models and rank world-class by industry standards. This business combination will only strengthen our ability to make a difference for the people who need it most.”
In connection with this business combination, The Vistria Group (“Vistria”) has become a minority investor of AnewHealth. Vistria is a next-generation private investment firm with expertise in healthcare and a focus on partnering with organizations that deliver lasting societal impact. David Schuppan, Senior Partner and Co-Head of Healthcare at Vistria, and Chris Hocevar, Chief Executive Officer of Help at Home, have joined the AnewHealth board. Nautic Partners, a leading middle market private investment firm, is the controlling owner of AnewHealth and has been since 2016. Over the course of Nautic’s ownership, AnewHealth has grown patients on service more than 500 percent.
About AnewHealth
AnewHealth is one of the nation’s leading pharmacy care management companies that specializes in caring for people with the most complex, chronic needs—wherever they call home. The company enables better health and quality of life for patients while helping the healthcare organizations who support them improve key clinical and cost outcomes. Established in 2023 through the combination of ExactCare Pharmacy and Tabula Rasa HealthCare, AnewHealth provides a suite of solutions that includes comprehensive pharmacy services with national dispensing; proprietary science-based technology to optimize medication therapy; full-service pharmacy benefit management; and specialized support services for PACE (Program of All-Inclusive Care for the Elderly). Today, AnewHealth cares for nearly 110,000 people nationwide through strong healthcare partnerships with risk-bearing providers, primary and specialty care providers, kidney care and dialysis providers, home health organizations, and managed care plans. For more info, visit our website: anewhealthrx.com
CONTACT: Contact: Sandy McKenzie, Director of Corporate Communications, AnewHealth SMcKenzie@anewhealthrx.com Kara Slater, VP of Marketing, AnewHealth KSlater@ExactCarePharmacy.com
