St Matthews Pharmacy

What St Matthews Pharmacy does

St. Matthews Pharmacy is a Louisville, Kentucky-based independent specialty and community pharmacy founded in 2017 and acquired by Cordant Health Solutions in April 2021. Operating across approximately eight active locations in Kentucky (five Louisville sites plus Hazard) and Oklahoma City, the company dispenses specialty medications for substance use disorder (including buprenorphine, Sublocade, Brixadi, Vivitrol, and naloxone), direct-acting antivirals for hepatitis C, HIV PrEP/antiretrovirals, antipsychotic long-acting injectables, and other high-cost specialty drugs, alongside maintenance medications for chronic conditions such as diabetes, hypertension, and arthritis. The pharmacy is staffed by clinicians certified in addiction, oncology, geriatrics, and pharmacotherapy, and was the first in Kentucky to implement an opioid-use-disorder clinic in a community pharmacy setting.

The company's technology layer centers on the proprietary Stream Provider Portal, which gives prescribers real-time prescription status, two-way messaging, and electronic new-patient enrollment, integrated with Cordant's laboratory data systems to deliver combined lab-and-pharmacy reporting to clinicians. Operations are supported by dual URAC and ACHC specialty-pharmacy accreditations (continuously held since 2019 and 2018 respectively) and LegitScript approval. Revenues are earned principally through prescription dispensing (insurance billing plus patient copays and manufacturer assistance), 340B program partnership fees with covered entities, and professional-services fees for pharmacist-administered Vivitrol, Sublocade, and antipsychotic LAI injections delivered in dedicated private suites. Free prescription delivery and clinic-based delivery extend the service area across Kentucky, Indiana, and Ohio, while the go-to-market model is sales-led and referral-driven via behavioral-health clinics, addiction treatment centers, and individual prescribers.

Name

St Matthews Pharmacy

Legal name

St. Matthews Community & Specialty Pharmacy

Website

https://stmatthewsrx.com

Company type

Private

Founded year

2017

Operating status

Operating

Headcount range

51–100 employees

Short description

St. Matthews Pharmacy, a Cordant Health Solutions subsidiary headquartered in Louisville, KY, operates a dual specialty and community pharmacy focused on medications for substance use disorder, hepatitis C, mental health, and other complex conditions, serving patients and prescribers across Kentucky, Indiana, Ohio, and Oklahoma.

Ownership category

akta.pro rank

Product category

Specialty Pharmacy Services

NAICS

Pharmacies and Drug Retailers (456110), Ambulatory Health Care Services (621)

SIC

Retail-Drug Stores And Proprietary Stores (5912), Pharmaceutical Preparations (2834)

akta.pro primary industry

Specialty Pharmacy & Complex Therapy Management Platforms (HLACAKAG)

akta.pro secondary industries

Retail & Community Pharmacies (Chain/Independent) (HLAFALAA), Pharmacy & Health Essentials Delivery (CRAFAFAI)

Keywords

• Specialty pharmacy services
• Substance use disorder treatment
• Behavioral health pharmacy
• Retail pharmacy dispensing
• 340B pharmacy partner

Headquarters

HQ city

Louisville

HQ country

United States

HQ region

North America

Offices10 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Prescription Dispensing Services: The pharmacy generates revenue through dispensing prescription medications to patients, including specialty medications, maintenance medications for chronic conditions, and behavioral health medications. Revenue is collected through insurance billing, patient copays, and manufacturer assistance programs.
2. Specialty Pharmacy Services: Specialty pharmacy services for complex health conditions including hepatitis, cancer, autoimmune disorders, and substance use disorder. These medications are typically high-cost and generate revenue through specialty pharmacy pricing and insurance coordination.
3. 340B Program Services: Partnership with covered entities to help ensure their 340B program reaches its full potential, providing customized solutions for program goals.
4. Pharmacist-Managed Vivitrol Program: Private injection services for Vivitrol administered by trained pharmacists in dedicated private suites at select pharmacy locations.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels5 records

Core offering

St Matthews Pharmacy operates a dual-licensed community and specialty pharmacy organization that dispenses prescription medications, specialty drugs, and behavioral health medications while providing high-touch patient management, prior authorization assistance, and pharmacist-administered injectable services. The company focuses on complex conditions including substance use disorder, hepatitis C, HIV, mental health disorders, and chronic diseases, serving patients through retail pharmacy locations, prescription delivery, and clinic-based administration in Kentucky, Ohio, Indiana, and Oklahoma.

Product overview

St. Matthews Pharmacy operates as a dual-location independent pharmacy organization (Community and Specialty) offering integrated pharmaceutical care. The portfolio centers on two core offerings: St. Matthews Specialty Pharmacy (advanced medications for complex conditions) and St. Matthews Community Pharmacy (retail/maintenance medications). These are supported by the STREAM Provider Portal platform for real-time prescription management and patient enrollment. The Specialty arm encompasses dedicated sub-products including a Pharmacist-Managed Vivitrol Program, Hepatitis C Treatment Services, Substance Use Disorder Treatment, and Behavioral Health Pharmacy Solutions covering infectious disease and mental health. Additional services include a 340B Partner Program, Prior Authorization Assistance, Patient Management Program, and Immunization Services. The organization focuses on whole-person care with expertise in behavioral health and complex diseases.

Differentiator

Problem solved

Functional benefit

Products and services

• St. Matthews Specialty Pharmacy
• St. Matthews Community Pharmacy

Quantifiable outcome

• 98% consistent for prescribed buprenorphine (integrated lab and pharmacy program)
• +9 more outcomes

Named customers3 records

Segments6 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Six partnerships are on record, tiered minor and core.

• Hepatitis C Treatment Center (Dr. Bennet Cecil)minorStrategic or Co-development Partner · 25 January 2023Louisville-based hepatitis C treatment center founded by Dr. Bennet Cecil. The center coordinates with St. Matthews Specialty Pharmacy to increase access to HCV treatment and produce more cured patients through an integrated care model.
• Cordant Health SolutionscoreStrategic or Co-development Partner · 20 July 2022Cordant Health Solutions acquired St. Matthews Community and Specialty Pharmacy in April 2021 and has since invested in expanding its capacity to serve patients. The combination of Cordant's integrated laboratory and managed pharmacy program with St. Matthews' expertise in specialty medications and clinical pharmacy services creates an unparalleled solution to support clinicians treating substance use disorder and associated behavioral health conditions. The Louisville pharmacy location serves as the hub for Cordant's pharmacy operations in the Midwest and Southeast.
• NuLease Medical and Behavioral TherapiesminorStrategic or Co-development Partner · 1 January 2022Treatment facility in Louisville and Campbellsville specializing in medical and behavioral therapies for opioid and alcohol dependency. Founder Shannon Cales has praised St. Matthews for treating patients with respect and total acceptance, working to find solutions to medication access problems.
• Northwest Integrated Health (NWIH)minorStrategic or Co-development Partner · 2 February 2021Healthcare provider in Tacoma, Washington that participated in a peer-reviewed study demonstrating Cordant's managed MAT pharmacy program's impact on patient retention and health outcomes. The study showed 52% higher retention and 46% fewer opiate-positive lab tests.
• University of Kentucky College of PharmacycoreStrategic or Co-development PartnerSt. Matthews Pharmacy participates in the University of Kentucky College of Pharmacy Community-Based Pharmacy Residency Program (CPRP). The residency site provides residents with opportunities to participate in direct patient care programs focused on chronic health conditions including specialty pharmacy services. St. Matthews was the first pharmacy in Kentucky to implement an opioid-use-disorder clinic.
• Cordant Health Solutions (Laboratory Integration)coreTechnology or IntegrationIntegrated laboratory testing with pharmacy services through Cordant Health Solutions. This provides providers with access to integrated lab and pharmacy data reports, enabling prompt intervention and improved patient compliance. Analysis of drug test results from patients dispensed buprenorphine through Cordant pharmacies demonstrated 98% consistency for prescribed buprenorphine.

Scale indicators5 records

Recent moves9 records

Expansion highlights6 records

Direct peers

• BayMark Health Services: Provider of medication-assisted treatment and addiction medicine services across the U.S. and Canada; overlaps directly with St. Matthews in SUD treatment, buprenorphine/MAT dispensing, and integrated clinical pharmacy services for opioid use disorder.
• Avita Pharmacy: Specialty pharmacy focused on HIV, hepatitis C, behavioral health, and LGBTQ+ care; closely matches St. Matthews' specialty pharmacy positioning in infectious disease (Hep C) and complex chronic conditions with stigma-free care.
• PANTHERx Rare Pharmacy: Specialty and rare disease pharmacy providing high-touch dispensing and clinical services for complex therapies; overlaps with St. Matthews in specialty pharmacy operating model, patient management programs, and disease-state specialization.
• BioPlus Specialty Pharmacy: Specialty pharmacy serving complex conditions including oncology, autoimmune disorders, and hepatitis C; directly comparable to St. Matthews' specialty medication focus on high-cost, high-touch therapies requiring clinical patient management.
• Curexa Pharmacy: Specialty pharmacy focused on hepatitis C, HIV, behavioral health, and addiction treatment medications; directly comparable to St. Matthews in infectious disease and behavioral health specialty dispensing with provider-facing support services.
• Genoa Healthcare: Largest provider of behavioral health pharmacy services in the U.S., operating pharmacies inside community mental health centers; directly comparable to St. Matthews in its focus on serving SUD and behavioral health patients through stigma-free, specialized pharmacy care.

Broad incumbents

• CVS Specialty (CVS Health): Largest U.S. specialty pharmacy within a vertically integrated PBM/retailer/payer; competes broadly with St. Matthews across specialty medications but at massive scale, with deeper payer relationships and national footprint.
• Humana Pharmacy Solutions: Vertically integrated payer-pharmacy offering specialty and mail-order dispensing; relevant incumbent peer for St. Matthews given specialty medication reimbursement dynamics and managed care contract competition.
• Accredo (Express Scripts/Cigna): Major U.S. specialty pharmacy owned by Cigna's Evernorth; directly overlapping in specialty medication dispensing for complex conditions, with significant scale and integrated PBM economics that St. Matthews must compete against for payer contracts.
• Walgreens Specialty Pharmacy: National specialty pharmacy within the Walgreens retail network offering complex-condition medication management; overlapping capability with St. Matthews' specialty and community pharmacy offerings but as part of a much broader retail portfolio.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat6 records

Key risks4 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/st-matthews-rx

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles14 records

Funding overview

Funding rounds

Investors

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

M&A

Investments

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

Frequently asked questions about St Matthews Pharmacy