Abarca Health and LucyRx have agreed to combine operations, positioning the two companies as one of the largest independent pharmacy benefit managers (PBMs) capable of serving both commercial and government clients nationwide. The strategic transaction, announced jointly from San Juan, Puerto Rico, and Bethesda, Maryland, will create a new parent entity—Healthcare Revolution Partners—under which both […]
Abarca Health and LucyRx have agreed to combine operations, positioning the two companies as one of the largest independent pharmacy benefit managers (PBMs) capable of serving both commercial and government clients nationwide.
The strategic transaction, announced jointly from San Juan, Puerto Rico, and Bethesda, Maryland, will create a new parent entity—Healthcare Revolution Partners—under which both companies will operate as wholly owned subsidiaries. Together, the companies said this week they will provide services to more than 9 million members across the United States.
The deal comes at a moment of heightened pressure for the PBM industry, which is facing rising regulatory scrutiny, escalating costs tied to specialty drugs and GLP‑1 therapies, and growing demands from employers and health plans for transparency and accountability. Executives from both companies said the combination is designed to meet those demands by pairing scale with modern technology and a more flexible operating model.
“Leveraging our combined scale, technology, and track record, we will accelerate the healthcare revolution Abarca started more than 20 years ago,” said David Blair, CEO of LucyRx. He said the combined organization will offer a more reliable operating foundation and customer experience while delivering total‑cost‑of‑care savings centered on patient needs.
Abarca’s Darwin Healthcare Intelligence platform will serve as the technological backbone of the new entity, supporting care coordination, lowering administrative costs, and enabling more personalized benefit design. LucyRx will contribute its clinical capabilities, Connected Specialty Care Network, and its LucyIQ platform, which provides real‑time clinical insights for employers, labor groups, and third‑party administrators.
Jason Borschow, CEO of Abarca Health, said the companies share a vision of making healthcare “more seamless and personalized for everyone,” adding that LucyRx’s clinical expertise will help expand service offerings and accelerate entry into new market segments.
Both companies emphasized continuity for existing clients and members. Operations, account teams, and brand identities will remain unchanged throughout the transition. Blair and Borschow will continue to lead their respective organizations and, once the transaction closes, become co-chairs of Healthcare Revolution Partners.
The merger is subject to regulatory approvals and customary closing conditions. The companies expect the deal to close in the third quarter of 2026 and will continue to operate independently until then.
