Salveo Specialty Pharmacy

About Salveo Specialty Pharmacy

Founded in October 2010 by industry veterans Jeff Freedman (CEO) and Chuck Brown (COO), Salveo Specialty Pharmacy was established to acquire and manage specialty pharmacies across the United States. The founders leveraged their combined 30 years of experience in specialty pharmacy, home infusion, and home healthcare to address the needs of patients with chronic conditions. The company's formation was financed through a $30 million round co-led by Three Arch Partners, NewSpring Capital, and Petra Capital Partners.

Salveo's business model centered on acquiring, integrating, and growing select specialty pharmacy organizations. This strategy was evident in its key acquisitions, including Echo Specialty Pharmacy in New York in September 2011 and Mission Road Pharmacy in California in November 2012. These acquisitions established Salveo's physical presence in the two largest U.S. markets and expanded its clinical focus. The company provided medications and clinical services for complex conditions such as organ transplants, oncology, HIV/AIDS, hepatitis C, rheumatoid arthritis, and gastrointestinal diseases. Services included prior authorization assistance, co-pay assistance, medication counseling, and in-home nurse self-injection training.

The company served patients with chronic illnesses who required high-touch, personalized care. By focusing on this niche, Salveo grew its revenue from $50 million in 2011 to a run rate exceeding $500 million by the time of its exit. This growth culminated in its acquisition by Catamaran Corp. (NASDAQ: CTRX) in a deal announced in October 2014 and completed on January 2, 2015. Catamaran acquired Salveo for $260 million in cash, which enhanced Catamaran's specialty pharmacy offering, BriovaRx, by adding a local market presence on the east and west coasts and expertise in several rapidly growing therapy areas.