TAMPA, Fla. — Independent drug chain Benzer Pharmacy is looking to acquire more pharmacies to fuel its expansion.
The Tampa, Fla.-based company, whose pharmacies specialize in compounding and specialty medications, now has more than 40 locations in Florida, Michigan, Virginia, North Carolina, Louisiana, Georgia, Tennessee and Texas and aims to expand its reach into new states.
To that end, the company has let it be known to pharmacy owners seeking to sell or retire that it’s ready to buy.
During 2015, Benzer expects to grow at a rate of two new pharmacies per month and plans to expand to a minimum total of 58 locations throughout the United States. The company had sales of $98 million last year.
“Benzer Pharmacy posted 30% growth last year by adding new stores and acquisitions,” Carly Tietz, pharmacy operations manager at Benzer, said in a statement.
Helping drive growth for Benzer was the dramatic increase in demand for specialty medications. Benzer is getting accreditation from the Utilization Review Accreditation Commission (URAC) for specialty medication and the Pharmacy Compounding Accreditation Board for compounding. In addition, the chain is seeking Accreditation Commission for Health Care accreditation for some stores.
In line with URAC standards, Benzer is beginning to implement a formal patient management program. The in-depth program looks at several aspects of patient care, including education, care plan and an integrated, multidisciplinary approach.
Benzer also offers medication therapy management for such complex conditions as diabetes, high blood pressure, high cholesterol, depression and asthma. The company focuses on five therapeutic areas: human immunodeficiency virus (HIV), multiple sclerosis, rheumatoid arthritis, hepatitis C and dermatology.
Other drivers of the company’s rapid expansion are its top-notch service and integrated package of services. These include in-store wait times of less than 10 minutes, free home delivery, customized medication packaging, free medication flavoring, online refill services, refill reminders, 90-day prescriptions and e-prescriptions.
“The pharmacy intends to keep growing rapidly in order to maximize its reach to customers through walk-in personalized services, hence the plan for new acquisitions,” Carly stated.
In addition, Benzer has introduced Green Roots Nutrition, a nutritional supplements store aimed at providing wellness solutions. Green Roots Nutrition offers supplements that include, but are not limited to, vitamins, minerals, herbs, meal supplements, sports nutrition products, natural food supplements and related products to boost nutrition.
Benzer’s approach to the franchising concept is built around operating systems, training and support. The company noted that franchisees can take advantage of its proven track record while being in business for themselves, but not by themselves. Benzer is a valued franchise choice for independent pharmacy owners because its high level of service keeps customers coming back and making positive referrals, according to company executives.
Formerly known as Rx Care Pharmacy, the company changed its name to Benzer Pharmacy as of the start of 2015. Plans call for all Rx Care Pharmacy locations to have the Benzer Pharmacy banner by July.