Vienna, Va., January 8, 2024 – Clarest Health, a leading Personalized Medication Management provider, announced today that it has acquired Remedi SeniorCare, a long-term and post-acute care pharmacy services provider, giving the company the size and scale to lead the post-acute care market. The U.S. market for pharmacy care for the post-acute patient population is $5.7 billion, and the U.S. Rx fill market for medically complex patients is $115 billion.1 Financial terms of the acquisition were not disclosed.
“This is an exciting moment for us,” says Hammad Shah, CEO of Clarest Health. “By adding Remedi to our organization, we are uniquely positioned to transform post-acute pharmacy care for aging patients in the hospital, at home, in assisted living communities, and in skilled nursing facilities. Currently, there are many gaps in providing the best medication care to the aging population. We are committed to filling these gaps through technology-based medication optimization and fulfillment.”
This acquisition represents another stake in Clarest Health’s strategy to provide flexible medication management and reduce the complexities that patients and their caregivers face, as patients transition to and from the hospital, skilled nursing facility and home environments. In September 2022, Clarest Health purchased CSS Health whose proprietary technology offers real-time insights to identify vulnerable patients to ensure medication adherence. In October 2022, it purchased Integrity Pharmacy, a “pharmacy at home” service to serve patients in their home environment. Now, with the acquisition of Remedi, Clarest Health expands its geographic footprint and technological capabilities.
“Remedi and Clarest share a mutual vision of embracing technology to provide patient-focused, pharmacy services and solutions,” said Jeff Stamps, CEO of Remedi SeniorCare. “We will combine Remedi’s proprietary, patented automation technology, PAXIT®, and customer portal, MyRemedi®, with Clarest Health’s post-acute medication management capabilities and data analytics to improve health outcomes.”
Today, multiple critical factors require a comprehensive approach to personalized medication management for patients including an aging population in which all baby boomers will be 65 years and older by the year 2030 ( U.S. Census). Research shows that family members need better support to care for their aging parents. At least 17.7 million individuals in the U.S. are caregivers of an older adult, and 61 percent of family caregivers are women resulting in high stress.2.,3.
Additionally, the estimated annual cost of drug-related morbidity and mortality resulting from nonoptimized medication therapy was $528.4 billion equivalent to 16 percent of total U.S. healthcare expenditures in 2016 (NIH report).
About Remedi SeniorCare
Headquartered in Towson, Maryland, technology-enabled pharmacy services company Remedi SeniorCare partners with long-term and institutional care facilities to provide exceptional person-centered medication management programs and achieve improved business results through innovation, advanced technology solutions, and clinical expertise. Renowned for its long-term care pharmacy services and proprietary medication management system PAXIT® and its customer portal, MyRemedi®, Remedi SeniorCare leads medication adherence in Skilled Nursing facilities and Assisted Living communities.
About Clarest Health
As a mission-driven pharmacy health expert, Clarest Health offers an end-to-end, patient-centered medication management solution to support patients in optimizing, accessing, and adhering to, their medication regimen. Our flexible, comprehensive services integrate technology, human engagement, and proven processes to Advance Patient’s Health at Every Step while enabling our partners to achieve better business outcomes. For more information, visit www.clarest.com.
1. Source: L.E.K interviews research and analysis
2. Family Caregivers’ Interactions with Health Care and Long-Term Services and Supports – Families Caring for an Aging America – NCBI Bookshelf (nih.gov)
3. Caregiving in the U.S. 2020: A Focused Look at Family Caregivers of Adults Age 50+ – AARP Research Report Companion