SPRINGFIELD, Ill. – H. D. Smith, among the nation’s largest pharmaceutical wholesalers, today announced a three-year prime vendor agreement with PharmacyGPO, a buying group that services independent community pharmacies across the United States.
Under the terms of the agreement, H. D. Smith will be the exclusive supplier of a full line of products including pharmaceuticals, health and wellness products, and durable medical equipment for PharmacyGPO, whose member base has experienced 300 percent growth since it was founded in June 2011. The new agreement supports the PharmacyGPO strategy to expand presence in community retail pharmacies and privately owned, long-term care facilities nationwide, as well as to start a specialty pharmacy buying group division in 2013.
“Like PharmacyGPO, H. D. Smith is committed to providing outstanding service and delivering business advantages to the community-based pharmacies and healthcare facilities that are the backbone of our nation’s health system – so we feel privileged to partner with PharmacyGPO as its sole provider of pharmaceutical wholesale distribution and customer services,” said Dale Smith, chairman and chief executive officer, H. D. Smith. “Our companies have complementary missions and long-term growth tracks, and we look forward to working alongside PharmacyGPO to help its members positively impact patient care while operating profitable businesses.”
“PharmacyGPO serves the independent pharmacy’s need for a buying group that provides value beyond negotiating discounts and rebates from its wholesaler. Instead, our 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 – and H. D. Smith quickly became the obvious choice due to its leadership in serving this key segment of the healthcare industry. Our 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.”
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 its members’ businesses by helping to develop new prescription business based on strategic partnerships with transparent Pharmacy Benefit Management service providers like Columbus, Ohio-based ApproRx. While offering members an aggressive drug wholesaler deal, PharmacyGPO also delivers over 20 value-added offerings to its pharmacy members.