EPIC announced today that it has agreed to acquire Pharmaceutical Strategies Group (PSG). The move incorporates the expertise and resources of the nation’s largest independent pharmacy benefit consulting firm into the EPIC Employee Benefits Consulting practice.
As a strategic partner to self-insured employers, health plans and health systems, PSG is an experienced navigator of the complex drug pricing market, and generates more than $4.8 billion in drug cost savings for clients each year.
“The opportunity to continue the next phase of our journey with EPIC is exciting,” said Dave Borden, PSG Founder. “For more than 25 years, our dedicated clinicians and consultants have relentlessly advocated for clients, harnessing innovation to deliver the highest standard of pharmacy benefits consulting and technology.”
Commenting on the announcement, Scott Schanen, President, EPIC National Employer Consulting, said, “Joining forces with PSG accelerates our ability to establish a new normal amid the dynamic landscape of employee engagement, health and economics. Long regarded as the industry leader in drug cost management, PSG’s partnership with EPIC creates value for clients through independent, objective and sustainable solutions and strategies.”
Steve Denton, EPIC CEO, added, “The cultural fit between PSG and EPIC has been apparent at every turn. We are collaborating to bring the combined expertise and breadth of service offerings to our clients and look forward to a positive 2021.”
Michael Lonergan will continue to serve as PSG President and will lead the charge to develop innovative drug management solutions for U.S. plan sponsors. PSG will operate as “Pharmaceutical Strategies Group – an EPIC company.”
About EPIC Brokers & Consultants
EPIC Insurance Brokers & Consultants has more than 2,600 team members operating from more than 80 offices across the U.S., providing Property and Casualty, Employee Benefits, Specialty Programs, and Private Client solutions to EPIC clients. For more information on EPIC, visit: www.epicbrokers.com.
About Pharmaceutical Strategies Group
PSG is the leading pharmacy intelligence and technology company solving one of healthcare’s biggest challenges – rising drug costs. It provides innovative drug management solutions to many of America’s largest self-funded employers and health plans, who rely trusted advisors to improve their financial and clinical outcomes.
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Betsy Van Alstyne