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Some big providers launch nonprofit generic-drug company

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Intermountain Healthcare’s headquarters in Salt Lake City.

FierceHealthcare reports:

“Some of the largest providers in the U.S. have officially joined forces to launch a nonprofit generic drug company.

Civica Rx was formally established Thursday after it first announced in January. The idea, which was spearheaded by Intermountain Healthcare, drew plenty of interest from hospitals and health systems; more than 120 healthcare organizations—including one-third of U.S. hospitals—have signed on.

The company’s initial governance will include seven health systems, each of which will contribute a member to the board: Intermountain, Catholic Health Initiatives, Mayo Clinic, Trinity Health, SSM Health, HCA Healthcare and Providence St. Joseph Health.”

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