The CDC said Wednesday that the new entity will operate as the Chain Drug Consortium LCC and continue to provide members with group purchasing opportunities and its portfolio of pharmacy industry programs, including the Premier Value brand program.
With the launch of the combined organization, Edward Frisch, the founding president and chief executive officer of the Chain Drug Consortium and Premier Value Alliance, has resigned. He will remain a consultant to the new company.
In addition, the consortium said Ed McGinley, vice president of pharmacy, resigned in February to pursue new consulting ventures.
“I am very proud to have developed our unique business model, driving $1 billion in member retail programs and $100 million in member savings since 2000,” Frisch said in a statement. “I am very confident that our board of directors and management will continue on this path.”
Taking the helm as the Chain Drug Consortium’s new president is Steve Rule, president and CEO of The Rule Group Inc. Lou Helfrich, the consortium’s vice president of purchasing, will continue to manage the Premier Value program, based in Pittsburgh. George Bartell, chairman and CEO of Bartell Drugs, will continue as the consortium’s chairman.
“Eddie Frisch and Ed McGinley have been valuable assets to both organizations, and their contributions through the years are greatly appreciated,” Bartell stated.
Plans call for the Chain Drug Consortium to close its Boca Raton, Fla., office at the end of May and open a new office in Park City, Utah.
“The companies that merged have each been of great value to Thrifty-White over the years, and we will see additional value and synergies through the merged organization,” commented Bob Narveson, president and CEO of Thrifty White Pharmacy.
The Chain Drug Consortium’s pharmacy programs include aggregated member purchasing of generic drugs, supplies and pharmacy services; equipment and software opportunities to improve pharmacy workflow and efficiency; clinical support services and professional development resources; and access to analytic tools and services to drive profitability and lower expenses. The organization also actively engages in key legislative issues impacting community pharmacy.
“The pharmacy programs we utilize through the Chain Drug Consortium drive tremendous value for Lewis Drug,” Lewis Drug president and CEO Mark Griffin stated.
Premier Value encompasses more than 1,800 over-the-counter, health, beauty, cosmetics and general merchandise products, including the PV Basics label and the new Premium Traditions line of Christmas seasonal items.
“We have enjoyed a great relationship between our Kinney Drugs patients and the Premier Value line of private-label products,” commented Bridget-ann Hart, president and CEO of KPH Healthcare Services Inc., the parent of Kinney Drugs.
Other Chain Drug Consortium members include Discount Drug Mart, Shopko, Hi-School Pharmacy, Fruth Pharmacy, HomeTown Pharmacy, Osborn Drugs, Drug Emporium, Farmacia Carol (based in Dominican Republic) and La Colonia (based in Honduras).