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Last updated on April 18, 2014 at 11:05 EDT

PharmacyGPO Buying Group Selects H. D. Smith as Primary National Distributor

May 7, 2012

PITTSBURGH, May 7, 2012 /PRNewswire-iReach/PharmacyGPO, Inc., a pharmacy buying group that services independently owned pharmacies across the United States, today announced a three-year agreement with H. D. Smith as its exclusive wholesaler.

(Photo: http://photos.prnewswire.com/prnh/20120507/CG01217)

Under the terms of the agreement, H. D. Smith, a leading national wholesaler, will be the exclusive supplier of a full line of products including pharmaceuticals, health and wellness products and durable medical equipment for PharmacyGPO members. The PharmacyGPO member base has experienced 300% growth since it was founded in June 2011.

“PharmacyGPO serves the independent pharmacy’s need for a buying group that provides value beyond negotiating discounts and rebates from its wholesaler. Instead, PharmacyGPO’s gross profit optimization model focuses on business growth, new prescription development and effective use of technology to ultimately increase profitability for independent pharmacies,” said Todd Eury, founder and president, PharmacyGPO. “In choosing an exclusive wholesale partner, PharmacyGPO sought a company with an unquestionable commitment to independent community pharmacy. H. D. Smith quickly became the obvious choice due to its leadership in serving this key segment of the healthcare industry. PharmacyGPO’s unique gross profit optimization model, combined with H. D. Smith’s customer-focused service and competitive pricing, will help our members solidify market share impacted by mail order and PBM competition.”

PharmacyGPO has plans to expand its business model to community retail pharmacies across the country and to further its presence into privately owned long-term care facilities. Its expansion plans also include starting a specialty pharmacy buying group division in 2013.

“H. D. Smith is privileged to have been selected as PharmacyGPO’s sole provider of pharmaceutical wholesale distribution and services,” said Dale Smith, chairman and chief executive officer, H. D. Smith. “As H. D. Smith has diversified its customer base during the last decade, independent community pharmacies have remained our core focus. We look forward to working alongside PharmacyGPO to help its members impact positively patient care while operating profitable businesses. Additionally, we see long-term growth opportunities working together, with complementary growth tracks for both companies in long-term care and specialty support.”

About PharmacyGPO, Inc.

Headquartered in Greater Pittsburgh, Pennsylvania, PharmacyGPO is a buying group that is 100% focused on privately owned pharmacies throughout the U.S. with an emphasis on growing their members’ businesses by helping to develop new prescription business based on strategic partnerships with transparent Pharmacy Benefit Management service providers like Columbus, OH-based ApproRx. While offering members an aggressive drug wholesaler deal PharmacyGPO also delivers over 20 different value-added offerings to their pharmacy members. Follow PharmacyGPO on Twitter @PharmacyGPO or visit them at http://www.PharmacyGPO.com .

Contact: Kelsey Ripper PharmacyGPO Marketing Coordinator 412-486-0855 kripper@PharmacyGPO.com

About H. D. Smith

Headquartered in Springfield, Illinois, H. D. Smith is among the largest national full-line, full-service wholesalers providing a complete line of pharmaceuticals, OTCs, HBAs, home healthcare products, durable medical equipment, seasonal merchandise and a wide array of marketing programs to retail pharmacies, regional chains and health systems. The company has distribution facilities in California, Florida, Kentucky, Illinois, New Hampshire, New Jersey and Texas that service major markets throughout the United States. Additional information about H. D. Smith can be found at http://www.hdsmith.com .

Contact: Allison Worrell H. D. Smith Marketing Communications Manager 217-753-1688 aworrell@hdsmith.com

Media Contact:

Kelsey Ripper PharmacyGPO, Inc., 412 486 0855, kripper@PharmacyGPO.com

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SOURCE PharmacyGPO, Inc.


Source: PR Newswire