McKesson completes Katz Group Canada pharmacy acquisition
SAN FRANCISCO — McKesson on Monday announced that it has completed the previously announced acquisition of the independent banner and franchise businesses of Katz Group Canada in an all-cash transaction that closed March 25.
McKesson in January agreed to acquire the Canadian company’s banner pharmacy business, Drug Trading, and its franchise pharmacy business, Medicine Shoppe Canada, in a deal worth approximately $926 million. Under the terms of the agreement, McKesson substantially will acquire all of the assets of Drug Trading, the shares of Medicine Shoppe Canada and a joint ownership interest in ProPharm’s pharmacy software application.
Katz’s banner and franchise operations will be integrated into McKesson’s Canadian pharmaceutical distribution and services business, which is part of McKesson’s Distribution Solutions segment.
McKesson Canada currently operates a number of banner groups, including Proxim, Associated Retail Pharmacy and Family Health Care Pharmacy.
Mobile health has high potential for growth, study finds
NEW YORK — The healthcare sector is thought to hold the most promise for mobile technology growth and development, according to a new survey by Deloitte.
Deloitte published results of a study, "Open Mobile: The growth era accelerates," which surveyed 250 senior executives from network carriers, mobile device manufacturers, software application developers and infrastructure component manufacturers, found that 78% of respondents considered health care and life sciences to have the most potential in stimulating business model innovation, along with retail and consumer products and financial services and commerce.
According to the study, wireless healthcare revenue, which was less than half a billion dollars in 2009, is projected to grow to more than $4 billion next year, and analysts expect the market for mobile health, or mHealth, to grow to about $4.6 billion by early 2014. Meanwhile, consumer products and retail are expected to experience "explosive" growth in the use of mobile technology.
NACDS RxImpact Day shows community pharmacy wins in communications battle
WHAT IT MEANS AND WHY IT’S IMPORTANT — This is a critical time for the industry as the Federal Trade Commission is expected to decide the fate of the Express Scripts-Medco merger in the coming weeks. ESI-Medco, and the pharmacy benefit manager threat in general, were at the top of the list of what members of the National Association of Chain Drug Stores came to talk about at the organization’s annual NACDS RxImpact Day, as chains asked lawmkers to support new legislation that would bring greater transparency to PBM bookkeeping and to tell the FTC to block ESI-Medco. Interestingly enough, the PBM lobby also had been through the Capitol earlier last week. Their fly-in reportedly included some 30 delegates and about 100 meetings. By that measure it appears that community pharmacy is winning the communications battle.
(THE NEWS: NACDS RxImpact Day ‘astounding’ as pharmacy advocates conduct more than 350 congressional meetings. For the full story, click here)
Certainly, DSN did its part to help on the communications front. In support of the event, and to show its advocacy for the industry, DSN produced a special supplement especially for members of Congress. "Rx Impact: Community pharmacy brings innovation to patient care" included 20 profiles of pharmacy chains from big to small — and representative of every channel, including food, drug, mass and club stores — with a focus on what each company was doing to expand and improve patient care. Hand-delivered to all congressional members, committees and subcommittees, the special supplement, available for download at Drugstorenews.com/rximpact-2012, was sponsored by Upsher Smith and ran in retailer copies of the March 12 edition of DSN.