SPRINGFIELD, Ill., June 20, 2013 /PRNewswire/ -- H. D. Smith, among the nation's largest pharmaceutical wholesalers, today announced the completion of the deal to attain majority interest in Triplefin, a reimbursement, patient assistance and pharmaceutical brand-support services Company, headquartered in Cincinnati, Ohio. Under the original terms of the agreement, H. D. Smith achieved majority board representation in Triplefin immediately, and recently secured majority stock ownership in the Company. Financial terms of the acquisition remain confidential.
The Triplefin-H. D. Smith combination creates an end-to-end service value chain touching all aspects of prescription medicine distribution and support, with Triplefin working alongside Smith Medical Partners, the company's specialty distribution business unit. Both subsidiaries fall under H. D. Smith's Specialty Solutions division. The integration of the two units is ongoing.
"The completion of this acquisition affirms the service power of two highly specialized, focused organizations that help advance traditional and specialty brand pharmaceutical support offerings to manufacturing partners, specialty pharmacy customers, healthcare professionals and most importantly, patients with highly specialized healthcare needs," said Dale Smith, chairman and chief executive officer, H. D. Smith. "The benefit of Triplefin joining H. D. Smith Specialty Solutions is already seen across all channels of our business –– we are now a stronger partner for brand and specialty manufacturers; a highly valuable service provider for institutions, acute care, physician offices, specialty and retail pharmacies; and a trusted supplier for patients expecting reliable access to prescription medicines."
With the transaction now complete, Smith Medical Partners' customers will benefit from expanded service offerings provided by Triplefin, including critical distribution/fulfillment, marketing, pharmacy services, technology and specialty product education functions. The combined organization will support offerings to specialty product manufacturers and pharmacy partners previously provided by Smith Medical Partners.
"The specialty health services model of today does more than just ensure that a product travels safely and securely from manufacturer to patient. Today's model must ensure that the needs of pharmacists, physicians, payers, group purchasing organizations, and patients are met – from patient-care information and education materials to clinical needs. Meeting these multiple mandates requires highly specialized fulfillment complimented with specialized handling and patient treatment support services that provide the safety, security and knowledge to successfully treat the patient," said Joseph Conda, president of H. D. Smith Specialty Solutions. "With a larger and more diversified Specialty Solutions portfolio, we are now well equipped to provide varied services and support functions for all of the players involved in the care and treatment of patients requiring specialty pharmaceuticals."
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 prescription products, 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 hdsmith.com.
About Smith Medical Partners
Smith Medical Partners, a wholly owned subsidiary of H. D. Smith and a division of H. D. Smith Specialty Solutions, focuses on specialty pharmaceutical distribution and services. Smith Medical Partners delivers to healthcare providers lifesaving medicines and supplies, including a full line of brand pharmaceuticals, injectables, vaccines and a robust generics portfolio. Licensed in all 50 states, Smith Medical Partners combines national reach with accessibility. With a knowledgeable team focused on providing exceptional customer care and offering valuable insight on item selection, patient assistance programs and reimbursement solutions, Smith Medical Partners services hundreds of specialty pharmacies and thousands of physician offices and clinics of all sizes. More than just product dispersal, Smith Medical Partners provides flexible offerings that facilitate cost-containment and efficiency throughout the supply chain, including helping manufacturers procure credentialed comparator products for clinical trials, third-party logistics and back-end telesales support for new and end-of-life cycle commercial products. Additional information about Smith Medical Partners can be found at smpspecialty.com.
Triplefin, a division of H. D. Smith Specialty Solutions, is headquartered in Cincinnati, Ohio, and recognized as the premier provider of pharmaceutical marketing support solutions. For more than 30 years, Triplefin has continually 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|
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