US-based insurance and reinsurance products provider Brown & Brown’s subsidiary has acquired all of the assets of Independent Pharmaceutical Consultants (IPC).

According to Brown & Brown, with annualised revenues of approximately $1.8m, IPC will relocate to Brown & Brown’s Evergreen Re profit centre establishing a new combined specialty pharmacy benefit consulting group.

Brown & Brown Regional president and chief acquisitions officer Scott Penny said IPC has delivered tailored PBM solutions for its customers and also helped clients overcome changes affecting drug benefit plans under last year’s healthcare reform law.

IPC’s pharmacy knowledge and expertise will Evergreen achieve next level in their pharmacy benefits consulting practice, added Brown & Brown’s Evergreen Re / Evergreen Rx CEO Ron Taylor.

IPC president Ken Anderson, Christine Johnston, Kathy Friedman along with their team will continue operations from IPC’s office in O’Fallon, Missouri, US.