Press Releases
Pelmeds Expands Pharmacy Market Reach with Acquisition of Apothecare in Brockton
Deal Enables Pelmeds to Open Third Pharmacy Facility and Broaden Offerings
Pelmeds, a pharmacy that specializes in managing and delivering medications for patients in residential programs, assisted living residences, and other congregate care providers, today announced the acquisition of Apothecare, a closed-door pharmacy in Brockton that serves a similar clientele.
This strategic move marks the creation of Pelmeds’ third location, one that will allow it to better serve Southeastern Mass. and Cape Cod and will expand its ability to deliver high-quality prescription medication services to a growing number of clients across Massachusetts.
Based in Waltham and operating a second location in Fitchburg, Pelmeds is well-known for its advanced technology and highly personalized service. Pelmeds focuses on timely and accurate prescription fulfillment, significantly improving the overall patient care experience. Much like Apothecare, it has extensive experience serving agencies that support individuals with intellectual and developmental disabilities.
“We are excited to welcome Apothecare clients and employees to the Pelmeds family,” said Bhuren Patel, R.Ph., president of Pelmeds. “This acquisition will enable us to expand our capabilities, serve more patients, and bring our quality care, automation and systems to patients served by Apothecare. Providing excellent customer service and maintaining the highest standards will be our top priority.”
Pelmeds will continue operating Apothecare’s 13,000-square-foot facility on Centre Street in Brockton, which was completely renovated and outfitted in 2019 with a state-of-the-art prescription dispensing system and compounding laboratory. Pelmeds, which has 55 employees, is committed to retaining and building upon Apothecare’s workforce of 53 employees, providing stability and continuity for Apothecare’s clients.
With this acquisition, Pelmeds will be able to broaden and diversify its service offerings, including compounding many medications through use of Apothecare’s lab, and expand service to hospice and palliative care providers.
The acquisition of Apothecare, which was previously owned by TelyRx of Clearwater, Fla., is finalized, subject to regulatory approval by the Massachusetts Board of Registration in Pharmacy. In the interim, Pelmeds and Apothecare are working closely to ensure a smooth transition for all stakeholders.