SPS Health

Name

SPS Health

Legal name

Summit Pharmacy Solutions

Website

https://spshealth.com

Company type

Private

Founded year

2021

Operating status

Operating

Headcount range

11–50 employees

Ownership category

akta.pro rank

Product category

Pharmacy Benefit Management and Post-Acute Care Pharmacy Services

NAICS

Pharmacy Benefit Management and Other Third Party Administration of Insurance and Pension Funds (524292)

SIC

Services-Health Services (8000), Hospital & Medical Service Plans (6324)

akta.pro primary industry

Pharmacy Information Systems (PIS) & Dispensing Workflow (HLACAKAC)

Keywords

• Pharmacy benefit management
• Long-term care pharmacy
• Pharmacy logistics services
• Formulary management
• Medical rebate optimization

Headquarters

HQ city

Milwaukee

HQ country

United States

HQ region

North America

Offices5 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Group Purchasing Organization (GPO) Services: SPS Health operates a GPO providing access to competitive pricing and rebate programs across pharmaceutical and non-pharmaceutical manufacturers. Revenue derived from membership fees and administrative services.
2. Pharmacy Administrative Services Organization (PSAO): Medicare Part D reimbursement optimization services for LTC pharmacies. Provides credentialing, network management, and reimbursement optimization services.
3. Pharmacy Benefit Administration: Formulary management, benefit design, claim adjudication, and rebate management services for pharmacies, healthcare providers, and PBMs.
4. Pharmacy Logistics and Delivery: On-demand, backup pharmacy and full-service logistics solutions through StatimRx and Statim Logistics. Revenue from delivery services, transaction fees, and per-order logistics charges.
5. Medical Rebate Management: Medical rebate optimization services for health plans, offering tailored preferred drug lists and clinical support. Revenue from management fees and rebate optimization services.

Go-to-market motion2 records

Distribution channels5 records

Marketing channels6 records

Core offering

SPS Health is a value-based care solutions provider delivering an integrated portfolio of services to long-term care pharmacies, correctional facilities, health plans, and pharmacy benefit managers. Through its subsidiaries LithiaRx, Trinity Healthcare Solutions, StatimRx, and Statim Logistics, the company provides GPO/PSAO purchasing and reimbursement, formulary management and benefit design, rebate management, medical rebate optimization, and on-demand pharmacy delivery and logistics. Core offerings are powered by proprietary technology platforms integrated with leading LTC pharmacy software systems.

Product overview

SPS Health is a platform organization offering a comprehensive portfolio of services for pharmacies, healthcare providers, and PBMs in the acute and post-acute care marketplace. The platform is built around three core subsidiaries: LithiaRx (formulary management and PBA services), Trinity Healthcare Solutions (technology-driven pharmacy benefit solutions), and StatimRx/Statim Logistics (on-demand pharmacy delivery and logistics). Additional services include GPO/PSAO purchasing and reimbursement solutions and medical rebate management. The portfolio is designed for long-term care, correctional, and behavioral health pharmacy companies.

Differentiator

Problem solved

Functional benefit

Brands

• LithiaRx: Pharmacy benefit administration services targeting long-term care; provides formulary management, benefit design, rebate submission, auditing, and claim adjudication for the LTC marketplace.
• Trinity Healthcare Solutions
• StatimRx
• Statim Logistics

Products and services

• LithiaRx Pharmacy benefit administration services targeting long-term care. Provides formulary management, benefit design, rebate submission with auditing, and real-time claim adjudication for the LTC marketplace. Built on the LithiaRx Formulary Management Platform integrated with LTC pharmacy software systems.
• Trinity Healthcare Solutions Technology-driven pharmacy benefit solutions for pharmacy benefit administrators, payers, and pharmacies. Provides formulary and rebate management, data and analytics, pharmacy claim management, and pharmacy network strategy advisory services for correctional, hospice, small PBMs and PBAs, and acute and post-acute care pharmacies.
• StatimRx On-demand pharmacy and medication delivery solutions for post-acute care. Operates a market-leading on-demand delivery platform powered by a nationwide pharmacy network of over 70,000 retail locations combined with PBM technology, providing 24-hour access to medications and backup pharmacy services.
• Statim Logistics Healthcare logistics and pharmaceutical delivery solutions providing on-demand, backup pharmacy, and full-service logistics. Offers a custom-built cloud-based logistics platform with nationwide same-day delivery through thousands of delivery drivers, 24/7 customer service through a dedicated dispatch center, real-time driver ETAs, milestone updates, proof of delivery capture, and signature capture compliance.
• Purchasing and Reimbursement (GPO/PSAO) Group Purchasing Organization (GPO) and Pharmacy Administrative Services Organization (PSAO) solution designed for LTC pharmacies. GPO provides access to competitive pricing and rebate programs across pharmaceutical and non-pharmaceutical manufacturers; PSAO offers stable, transparent Medicare Part D reimbursement programs.
• Medical Rebates Medical rebate management solutions for health plans and payers. Offers a highly-tailored approach with comprehensive preferred drug lists, associated medical policies, and support solutions customized to serve individual customer needs and balance clinical and financial objectives.

Quantifiable outcome

• 93% of employees rate SPS Health as a great place to work (36 points higher than average U.S. company)
• +2 more outcomes

Named customers5 records

Segments6 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

AI capability2 records

Feature5 records

Partnerships

Five partnerships are on record, tiered core and strategic.

• SoftWriterscoreTechnology or Integration · 17 July 2025StatimRX, an SPS Health company, launched a next-generation API integration with SoftWriters' FrameworkCourier platform. This integration enables real-time data exchange for centralized delivery lifecycle oversight, from staging and routing to delivery confirmation and proof of delivery capture. The integration removes dependence on third-party technology and streamlines Statim operations into FrameworkLTC for 800+ LTC pharmacies.
• Mideast Delivery SolutionscoreStrategic or Co-development Partner · 15 July 2024Acquisition of Mideast Delivery Solutions, a specialized courier services provider to the long-term care pharmacy industry established in 2014. The acquisition significantly enhanced SPS Health's logistics capabilities through StatimRX, integrating Mideast's delivery network and customer-centric culture. Operations fully integrated into SPS Health infrastructure.
• PlenfulstrategicTechnology or Integration · 9 October 2023Strategic partnership with Plenful, an AI-powered workflow automation platform streamlining pharmacy and healthcare operations. The partnership helps SPS Health clients automate administrative workflows including document data entry, 340B auditing and savings identification, and pharmacy revenue cycle management. Plenful launched with 20+ enterprise customers across health systems and pharmacies.
• SCPC (Senior Care Pharmacies Coalition)coreStrategic or Co-development PartnerLongstanding partnership with SCPC, the national organization representing long-term care pharmacies in Washington D.C. SCPC hosts annual summits for insightful discussions about LTC policy, and opportunities and challenges in the industry. SPS Health actively participates in advocacy and education initiatives.
• ASCP (American Society of Consultant Pharmacists)coreStrategic or Co-development PartnerPartnership with ASCP, a premier society encouraging spirited interdisciplinary discussion among post-acute and long-term care pharmacy leaders. ASCP hosts annual meetings and exhibitions where SPS Health participates as an industry partner.

Scale indicators4 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Managed Health Care Associates (MHA): MHA is a leading GPO and pharmacy services organization serving long-term care pharmacies, retail independents, and specialty pharmacy operators. Directly comparable to SPS Health's LithiaRx and Trinity GPO/PSAO offerings — same LTC customer base, same purchasing and reimbursement optimization value proposition.
• PharMerica: PharMerica (a BrightSpring Health Services company) is one of the largest LTC and post-acute pharmacy operators in the U.S., offering pharmacy dispensing, clinical consulting, and pharmacy benefit services. Directly comparable to SPS Health's LTC-focused pharmacy solutions portfolio and shares the same customer segment.
• GeriMed: GeriMed provides GPO, PSAO, and clinical consulting services to long-term care and post-acute pharmacies. Overlaps directly with SPS Health's purchasing, reimbursement, and formulary service lines for the LTC pharmacy customer segment.
• ExactCare Pharmacy: ExactCare provides long-term and post-acute pharmacy services including medication management, delivery, and pharmacy benefit support. Comparable to SPS Health's LTC pharmacy and StatimRx delivery offerings serving the same post-acute patient population.

Broad incumbents

• MedImpact Healthcare Systems: MedImpact is a large independent PBM offering formulary management, rebate administration, and pharmacy network services. Comparable to SPS Health's Trinity Healthcare Solutions PBM technology and LithiaRx formulary/rebate offerings, but at materially greater scale and broader market reach.

Emerging players

• Capital Rx: Capital Rx is a technology-first PBM offering a modern claims processing platform (JUDI) and pharmacy benefit administration. Comparable to SPS Health's LithiaRx and Trinity PBA technology stack, with overlap in the health plan/payer customer segment but focused on commercial rather than LTC.
• SmithRx: SmithRx is a transparent PBM offering pharmacy benefit administration, formulary management, and rebate services to employers and health plans. Comparable to SPS Health's Trinity and LithiaRx PBA services for health plan and payer customers.
• RxPreferred Benefits: RxPreferred is a pharmacy benefits administrator offering transparent PBM services, formulary design, and rebate management for self-funded employer plans. Comparable to SPS Health's pharmacy benefit administration services for payers and health plans.
• ScriptDrop: ScriptDrop provides prescription delivery logistics and medication adherence solutions connecting pharmacies, patients, and couriers. Comparable to SPS Health's StatimRx on-demand pharmacy delivery and Statim Logistics operations targeting LTC and post-acute pharmacies.
• EmpiRx Health: EmpiRx Health is a value-based PBM offering pharmacy benefit management, clinical programs, and formulary optimization for self-funded plans. Comparable to SPS Health's Trinity Healthcare Solutions and LithiaRx services for health plan and payer customers, though focused on commercial rather than LTC.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks1 record

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/sps-health

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Subsidiaries4 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about SPS Health