H. D. Smith Completes Full Ownership Acquisition Of Triplefin, Solidifying End-To-End Value Chain For Pharmaceutical And Patient Support Services
- Majority Owner H. D. Smith Acquires Remaining 49% Shares; Triplefin Becomes Wholly Owned Subsidiary Under H. D. Smith Specialty Solutions Operating Unit -
SPRINGFIELD, Ill., Sept. 30, 2013 /PRNewswire/ — H. D. Smith, among the nation’s largest pharmaceutical wholesalers and pharmaceutical services providers, today announced full ownership acquisition of Triplefin, a reimbursement, patient assistance and pharmaceutical brand-support services Company, headquartered in Cincinnati, Ohio. H. D. Smith secured majority representation on Triplefin’s board of directors in January, 2013 and majority stock ownership interest in May, 2013. H.D. Smith has now acquired the remaining 49% of shares in Triplefin giving the Company full ownership. Triplefin will operate as a wholly owned subsidiary of H. D. Smith within the H. D. Smith Specialty Solutions Operating Unit. Financial terms of the full ownership acquisition remain confidential.
“H. D. Smith is committed to providing end-to-end value throughout the healthcare chain to our customers and the patients they serve – and the Triplefin mission to remove barriers, connect patients and grow brands fits perfectly with the H. D. Smith Specialty Solutions focus on the patient journey,” said Dale Smith, chairman and executive officer, H. D. Smith. “Our interest in Triplefin began a year ago, sparked by the company’s specialized offerings across patient support programs, distribution/fulfillment, marketing, pharmacy services, technology and specialty product education functions. Together, our organizations have already integrated many of our functions, and established an end-to-end service value chain touching all aspects of prescription medicine distribution and support – and we look forward to continuing to grow together.”
Together, the combined organization will continue to provide support services to traditional brand and specialty product manufacturers and pharmacy partners, including critical distribution and fulfillment functions, patient assistance and reimbursement programs, third-party logistics, pharmaceutical marketing, and product education.
“Triplefin shares the H. D. Smith Specialty Solutions commitment to supporting patients from the moment they begin receiving care, to the completion of their treatment – and together, we have the exciting opportunity to revolutionize the industry and help protect patient wellness,” said Joseph Conda, president of H. D. Smith Specialty Solutions. “We remain impressed and inspired by the organization that Greg LaLonde and Rick Randall have built over the past 10 years, and we are enthusiastic about driving their mission forward – reshaping the patient journey through end-to-end solutions. That vision, and the best-in-class Triplefin services that bring it to life, are a critical part of our H. D. Smith strategic vision: to be the leader in controlling healthcare costs while maximizing patient outcomes.”
About H. D. Smith
Headquartered in Springfield, Illinois, H. D. Smith is among the largest national wholesale distributors, with services and solutions for manufacturers and healthcare providers in providing products, services and care for patients nationwide. H. D. Smith has two operating units: Wholesale Distribution and Specialty Solutions. H. D. Smith Wholesale Distribution provides a complete line of prescription products, over-the-counter, health and beauty aids, home healthcare products, durable medical equipment, seasonal merchandise and a wide array of marketing programs to retail pharmacies, regional chains and health systems. Distribution facilities are located in California, Florida, Kentucky, Illinois, New Hampshire, New Jersey and Texas and serve major markets throughout the United States. In addition, H. D. Smith operates a home healthcare (HHC) distribution center in Texas; SmartSource, a generic distributor; and Valley Wholesale Drug, a regional healthcare distributor located in northern California. H. D. Smith Specialty Solutions provides end-to-end services and support programs for traditional and specialty pharmaceutical providers and patients, including specialty distribution, third-party logistics, clinical trials drug procurement, physician education, patient access, patient on-boarding and treatment, reimbursement, adherence and compliance support.
Additional information about H. D. Smith can be found at hdsmith.com.
Triplefin, a wholly owned subsidiary of H. D. Smith, is headquartered in Cincinnati, Ohio and has been recognized as a premier provider of pharmaceutical marketing support solutions. For more than 10 years, Triplefin has helped pharmaceutical brand managers remove barriers to brand access and adherence and put prescription brands into patients’ hands…and keep them there throughout treatment.
Today, more than 45 pharmaceutical manufacturing companies (including 15 of the top 20), representing more than 150 brands across multiple therapeutic categories, have connected with Triplefin and experienced success with Triplefin’s solutions. Our mission is to connect patients, providers, pharmacies and payers to improve outcomes and to remove brand challenges with access, acquisition and adherence.
Makovsky + Company, Inc.
H. D. Smith
SOURCE H. D. Smith