Abarca Health and LucyRx to Combine to Scale Independent PBM Model

▤ Summary

Abarca Health and LucyRx plan to combine into Healthcare Revolution Partners, creating a larger independent PBM serving more than 9 million members. Both companies will keep operating as separate subsidiaries under the new parent. The deal is positioned as a response to growing regulatory pressure on traditional PBMs and the large insurer-owned players. Leadership will remain in place, with Jason Borschow leading Abarca Health and David Blair leading LucyRx. The transaction is pending regulatory approval and is expected to close in the third quarter of 2026.

▦ Linked Companies

Abarca Health

$100M to $250M