MinuteClinic: A force to be reckoned with
WHAT IT MEANS AND WHY IT’S IMPORTANT — The fact that CVS Caremark’s MinuteClinic was highlighted as an innovator of healthcare delivery by the World Economic Forum’s Innovation Health Care Delivery Project is important on several fronts. Not only does the recognition further illustrate the important role that convenient care clinics are playing in U.S. health care, but perhaps even more importantly, this forum also was a global stage for the clinic operator.
(THE NEWS: MinuteClinic recognized as innovator of healthcare delivery. For the full story, click here)
When you think about it in those terms, that means that even Europe, the land of universal health care, is taking note and is impressed by retail-based health clinics.
MinuteClinic’s approach to making health care more accessible was identified as a model of innovation in a project conducted at the World Economic Forum, said Olivier Raynaud, Head of Global Health and Healthcare sector.
"This project reviewed more than 20 innovative healthcare delivery models from around the world to assess the success factors and potential to be transferred, replicated and scaled up," Raynaud said. "A selection of these models, which are improving access to quality affordable care, were showcased at Montreux."
Being afforded a global stage where MinuteClinic not only could share its experience but also learn from other healthcare innovators no doubt is a tremendous opportunity. In addition to working to expand its scope of practice to include a variety of chronic condition monitoring services, MinuteClinic also is looking to add 100 new clinic locations each year for the next five years.
MinuteClinic launched the first retail clinic in the United States in 2000, and currently operates approximately 500 locations in 26 states and the District of Columbia.
Cardinal Health to acquire pharmaceutical distributor Kinray
DUBLIN, Ohio Cardinal Health is looking to expand the pharmaceutical segment of its business by acquiring a pharmaceutical distributor serving the New York metropolitan area.
The company said its acquisition of Kinray for $1.3 billion in an all-cash transaction would significantly expand its ability to serve retail independent pharmacies in the northeastern United States. Kinray currently serves more than 2,000 retail independent pharmacy customers as a distributor of both branded and generic pharmaceuticals.
After the transaction is complete, Kinray customers will be able to tap into a leading line of service offerings from Cardinal Health, Cardinal Health said.
"Adding Kinray to the Cardinal Health pharmaceutical segment portfolio will enable us to build on our increasing presence in community pharmacy and accelerate our growth in this important channel," said George Barrett, Cardinal Health chairman and CEO. "We are excited to have the Kinray employees join the Cardinal Health family, and we look forward to their contributions. Kinray has a long-standing service tradition with its customers. We intend to continue that tradition, utilizing its customer expertise and Whitestone distribution facility, while creating additional value for its customers through branded pharmaceutical programs, inventory and pharmacy management tools, and Cardinal Health’s extensive generic drug program."
Genzyme sells diagnostics biz
CAMBRIDGE, Mass. — Biotech company Genzyme is selling its diagnostics business to Sekisui Chemical for $265 million, Genzyme said Thursday.
Under the deal, Sekisui will purchase the diagnostics business’ assets, including product lines and technologies, and offer employment to its 575 employees while maintaining operations in all of its current locations.
“With this transaction, we are continuing to execute on our plan to increase value for shareholders,” Genzyme chairman and CEO Henri Termeer said. “This sale is part of our strategy to sharpen the company’s focus and allocate our resources to key areas for our future growth, such as manufacturing, our rare disease business and our product pipeline.”
The diagnostics business is one of three that Genzyme has sought to sell off, the other two being Genzyme Genetics, which it sold to Laboratory Corp. of America in September, and the pharmaceuticals business, which it has yet to sell.