Elevance Health has closed its acquisition of BioPlus, a specialty pharmacy company, the insurer announced Wednesday.

BioPlus was a subsidiary of CarepathRx, part of Nautic Partners' portfolio. BioPlus will join the insurer's Carelon arm, which is a major focus of growth within Elevance, formerly Anthem.

The specialty pharmacy company provides a range of services for people with complex or chronic illnesses such as cancer, multiple sclerosis, hepatitis C, autoimmune diseases or rheumatological conditions. It covers more than 100 drugs with a limited distribution and reaches all 50 states.

Elevance said in the release that the deal will help the insurer better meet its members' specialty drug needs, backing its focus on whole-person health.

“Specialty pharmacy is a critical driver of value for patients, and we are excited to welcome BioPlus, the largest independent specialty pharmacy, to our Elevance Health family,” said Pete Haytaian, executive vice president of Elevance Health and president of Carelon, in the release. “Together, we will enhance our abilities to provide end-to-end pharmacy services for our consumers by delivering greater affordability and access to critical medications, as well as a superior patient experience."

BioPlus will now operate as part of CarelonRx, the company's pharmacy benefit management arm.

Elevance Health plans to further build out BioPlus' services to more disease states, ensuring access to necessary medications.