March 9, 2022
- Press Releases
Green Shield expands pharmacy focus with acquisitions of NKS Health and The Health Depot
TORONTO, ONTARIO (MARCH 9, 2022) – A social enterprise founded by pharmacists and recognized as a pharmacy benefits management thought leader, Green Shield Canada (GSC) has a long history of improving care, increasing access to affordable medications, and making it easier for Canadians to live their healthiest lives. Building on that history, the GSC group of companies is pleased to announce two key acquisitions in growing segments of the pharmacy landscape.
With high-cost specialty drugs continuing to have a major impact on plan sustainability, the GSC group of companies is acquiring NKS Health, an established, innovative specialty pharmacy focused on complex disease management. Since opening its first specialty pharmacy in 2007, NKS Health has become an industry leader with four accredited pharmacies, 19 infusion clinics, and a national network. Servicing 30,000 patients per year, NKS Health has a strong reputation for patient-focused care. This will provide GSC with additional capability in managing drug costs for employers while enhancing patient health outcomes.
In light of the growth trend in digital health, the GSC group of companies is also acquiring The Health Depot, an emerging leader in digital pharmacy with expertise in chronic disease management. Aligned with GSC’s track record as an innovator in health and technology, The Health Depot offers a convenient approach that ‘brings the pharmacy to you’ while monitoring medication safety and, when needed, helping to optimize medication therapy.
“We are excited to be going back to where it all started – our pharmacy roots,” says Mark Rolnick, EVP, Pharmacy Innovation and Patient Experience at GSC. “These acquisitions represent an important step in providing an industry-leading experience through an integrated set of services, including health case management for both chronic and complex diseases, adherence solutions, and pharmacy operations.”
“This is also a critical milestone in our repositioning as an integrated health services organization and Canada’s only payer-provider, with the ability to insure health benefits, pay health claims and deliver health care services while also administering all types of health benefits plans,” explains Zahid Salman, GSC’s President & CEO. “We also look forward to more deeply embedding digital pharmacy capabilities in with our solutions for digital mental health care and telemedicine as this will allow us to both better serve our clients and advance our social mission of delivering meaningful solutions to improve health and well-being.”
The acquisitions, made through Green Shield Holdings Inc. – part of the GSC group of companies – will provide unique value by utilizing deep clinical expertise and integrating targeted pharmacy services into both insurance and broader health services offerings. They will also enable increased social impact in local communities.
“At NKS Health, we pride ourselves on helping patients with their specialty medications so that they have better access to care and a greater chance of positive outcomes,” adds Nancy Simonot, NKS Health CEO and Co-Founder. Partner and Co-Founder Steve Simonot adds: “Our management team, led by Kristen Ribble, is looking forward to being part of the GSC group of companies and having opportunities to do even more to support these patients.”
“We are thrilled to be joining the GSC group of companies,” says Andy Donald, The Health Depot CEO and Co-Founder, along with his wife Agata Donald. “Our vision is to grow our impact across the country and use our digital platform to improve the health of Canadians suffering from chronic diseases. Now we will have access to the scale and client base to make that a reality.”
Moving forward, the current leadership teams for NKS Heath and The Health Depot will remain in place and operate day-to-day business.
For more information:
About Green Shield Holdings Inc.
Part of the Green Shield Canada (GSC) group of companies, Green Shield Holdings Inc. (GSH) is the primary company used to house health services and health & benefits administration subsidiaries. Green Shield Holdings Inc. is itself a wholly-owned subsidiary of the not-for-profit Green Shield Association (GSA).
About Green Shield Canada
Green Shield Canada (GSC), one of the country’s largest health benefits carriers and the only national not-for-profit one, has been shaping the health care landscape for 65 years with a unique brand of expertise and innovation, and currently serves over 4.5 million Canadians across health and dental benefits and pharmacy benefits management. Through GSH, GSC is also able to provide clients with an integrated experience that includes delivery of health care via an ever-expanding digital health ecosystem and full benefits administration support.
GSC believes all Canadians should have access to services they need to improve their health and well-being, but for too many that’s not a reality. With a focus on filling gaps in the Canadian health care system in oral and mental health, GSC and GSA together will invest $75M in oral and mental health social impact initiatives by 2025 to drive measurable improvements in health outcomes for Canadians – and support the organization’s commitment to Better Health for All.
About The Health Depot
The Health Depot is an innovative online pharmacy that through the use of digital technology makes it easier and more convenient for patients to access the pharmacy care they need.
The Health Depot Pharmacy’s mission is to revolutionize pharmacy practice by expanding access to comprehensive pharmaceutical care through a patient-focused, digitally-enabled experience. To deliver on that mission, The Health Depot leverages the provincial digital health ecosystem and collaborates with patients’ health care professionals to monitor medication safety, effectiveness and ensure patients’ needs are met. The Health Depot Pharmacy is a PrescribeIT® and ClinicalConnectTM participating organization.
About NKS Health
NKS Health is a specialty pharmaceutical services company focused on the handling and service of injectable, infused and biologic medications. NKS Health provides high-quality service by strategically focusing on chronic autoimmune and neurological conditions, such as rheumatoid arthritis, gastrointestinal diseases, dermatological diseases, stroke rehabilitation, migraines, and multiple sclerosis.
As an organization dedicated to program innovation, NKS Health has designed and delivered superior treatment solutions for over 15 years, earning a reputation of being a premier specialty pharmacy provider with patients, physicians, and medication manufacturers.