LucyRx and Abarca to merge

LucyRx and Abarca, two midsize pharmacy benefit managers, have agreed to merge to become one company that provides prescription drug services to more than 9 million members across the United States.

The two companies are combining to create an independent PBM with the technology and clinical capabilities to serve both commercial and government markets at scale. This is a pass-through model with no spread pricing, no owned mail or specialty pharmacies and no insurer affiliation, according to company officials.

“Leveraging our combined scale, technology, and track record, we will accelerate the healthcare revolution Abarca started more than 20 years ago, David Blair, CEO of LucyRx said in a news release. “Together, we will deliver a trusted operating foundation, tailored customer experiences powered by best-in-class technology, and total-cost-of-care savings anchored in putting patients first.”

When the merger is finalized in the third quarter of 2026, both PBMs will operate as wholly owned subsidiaries of Healthcare Revolution Partners. Each company will remain focused on its core markets with LucyRx continuing to serve employers and TPAs and Abarca will continue to lead in health plans and government programs.

Leadership will remain unchanged, with Blair and Jason Borschow, CEO of Abarca Health, continuing to serve as CEOs of their respective companies. They will also join Healthcare Revolution Partners as co-chairs.

In a news release, the companies said the merger is an effort to create a company with the scale and technology to address the issues facing clients, including rising costs of specialty drugs and affordability.