CUMBERLAND — Factor One Source Pharmacy and Fast Access Specialty Therapeutics have entered into a definitive agreement under which FOSRx will acquire F.A.S.T. for a combination of cash and stock.
Together, the two companies are projected to generate approximately $136 million in revenue in 2016 and $156 million in revenue for 2017.
F.A.S.T. will retain its brand, but will function under the umbrella of FOSRx, and will add “Powered by Factor One Source Pharmacy” to its name. F.A.S.T. Chief Executive Officer Stephen LaCoste and Chief Operating Officer Adam Myers fully support the transaction. Dr. Sajal Roy, CEO to FOSRx, will become CEO to both companies effective immediately.
F.A.S.T. employs a team of 42 and has average annual revenue of $100 million. Over the past seven years, the company has grown tremendously due to its patient-oriented business and commitment to quality. Like FOSRx, F.A.S.T. is a dually accredited specialty pharmacy with The Joint Commission and URAC.
“The F.A.S.T. team has grown a fantastic business centered on support and quality services for patients,” Roy said. “Together we can accelerate the growth of the Factor One Source brand as we seek to empower every patient we serve to live fulfilled, healthy lives.”
With locations in Maryland, Tennessee, and now Louisiana, FOSRx plans to continue expanding to the West Coast. FOSRx will continue to dispense specialized medications in conditions related to rheumatology, dermatology, oncology, immunoglobulin therapy, hemophilia, endocrinology, gastroenterology and neurology, among others.
Factor One Source Pharmacy is a specialty pharmacy providing medications and services to people with complex or hard-to-manage medications. Headquartered in Cumberland, FOSRx is able to serve patients with a variety of medical conditions in all 50 states.