Pharma, Startups, Health Tech

Anthem’s PBM buys pharmacy startup Zipdrug

Anthem’s newly formed PBM, IngenioRx, acquired pharmacy startup Zipdrug. The company facilitates in-home drug delivery and helps health plans track medication adherence.

Anthem’s newly-formed pharmacy benefit manager acquired pharmacy startup Zipdrug. The deal will give Anthem access to Zipdrug’s services to facilitate medication delivery and improve adherence. Anthem’s PBM, IngenioRx, will be able to sell those services to health plans as part of its offering or as a standalone pharmacy service.

The companies did not disclose the terms of the acquisition.

Anthem signed a five-year partnership with CVS Health last year to create IngenioRx. The PBM began offering services this year, replacing the insurer’s contract with Express Scripts, after a long legal battle between the two companies. Earlier this year, Anthem CFO John Gallina said they were “very, very happy” with the new PBM’s performance, which was originally expected to save Anthem $4 billion annually.

Zipdrug, for its part, was founded just five years ago. It started with simply delivering medications to patients’ homes, but has since expanded to track which pharmacies offer medications at the lowest copay for patients. The company can also engage patients with low adherence or high potential for cost savings.

“Consumers and plan sponsors are looking for a simplified, more consumer-centric pharmacy experience, and are struggling with rising cost of pharmacy care,” IngenioRx President Deepti Jain said in a news release. “At IngenioRx, our vision is to raise the bar on pharmacy care. And with the acquisition of ZipDrug we’ll be even better positioned to deliver stronger health outcomes for members, lower overall costs for customers, and a more satisfying pharmacy experience for all our stakeholders.”

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