UnitedHealth Group Buys Avella Specialty Pharmacy
UnitedHealth Group's Optum headquarters building in Minnetonka. ( Photo by Ken Wolter)

UnitedHealth Group Buys Avella Specialty Pharmacy

The deal, struck quietly last quarter, comes on the heels of another pharmacy purchase by UnitedHealth Group, as the company looks to continue its growth in the pharmacy sector.

During the last financial quarter, Minnetonka-based insurance giant UnitedHealth Group Inc. quietly made a deal for Avella Specialty Pharmacy. The purchase of the Phoenix-based private pharmacy company was identified in the UnitedHealth Group third quarter earnings report, released Tuesday.

Terms of the deal were not disclosed, but Avella had a 2017 revenue of $1.35 billion, and has been a staple on the Inc. 5000 list of fastest-growing companies nationwide for more than a decade. Its most recent posting on the list cited a three-year revenue growth of 71 percent.

Avella’s operations will be absorbed by UnitedHealth Group’s pharmacy segment, OptumRx.

“The combination of OptumRx and Avella will improve specialty-pharmacy care services and health outcomes for consumers, while helping reduce overall health-care costs,” Optum spokesman Matt Stearns told Bloomberg.

This acquisition comes less than a month after UnitedHealth Group bought Washington-based Genoa Healthcare, beating out Walgreens Boots Alliance and other suitors in securing that deal, rumored to be valued at $2.5 billion.

Both deals are part of UnitedHealth Group’s ongoing effort to expand its pharmacy business. In its third quarter, the insurance company posted revenues of $56.6 billion, a 12 percent increase year-over-year.