March 9, 2016

With purchase, Portland pharmacy expands to Midwest

Apothecary by Design's Preble Street location in Portland.

Portland-based specialty pharmacy Apothecary By Design announced on Tuesday that it has purchased Healy Pharmacy of Warrenville, Ill.

The purchase is the first expansion outside of Maine for Apothecary, which received private equity funding last fall. It also follows the February sale of its Portland retail location to a group of local partners that included co-founder Joe Lorello.

"By joining forces, both pharmacies are stronger," Apothecary's CEO Mark McAuliffe said in a statement announcing the acquisition. "For example, both Healy and Apothecary by Design are deeply committed to providing high-quality patient care; together, our pharmacies will be able to exchange best practices and deliver even better outcomes. We look forward to working with our new colleagues in Illinois."

Like Apothecary, Healy Pharmacy specializes in infertility treatment in addition to focusing on oncology and treatments for infectious and inflammatory diseases.

Terms of the Apothecary's purchase, which closed on March 4, were not disclosed.

Jack Quinnert, Healy's pharmacist in charge, said in the release announcing the purchase that its staff and leadership would remain with the company in the acquisition.

"The only changes patients or healthcare practitioners will experience in our service will be positive ones," Quinnert said. "Both Healy and ABD are known for the way in which they interact with patients and collaborate with the care team. Drawing on each pharmacy's strengths can only benefit the patients we serve."

Read more

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