Retail News Breaks
H.D. Smith forms new specialty Rx unit
January 22nd, 2013
SPRINGFIELD, Ill. – In the wake of some key acquisitions, H.D. Smith has established a new specialty pharmaceutical organization and promoted six executives.
The drug wholesaler said Tuesday that it has created H.D. Smith Specialty Solutions to provide alignment around specialty and traditional brand products, solutions and services.
H.D. Smith said the new organization addresses geographic and service expansions following its purchase of Valley Wholesale Drug, a regional health products distributor, in October and its deal to acquire a majority stake in Triplefin, a branded and specialty pharmaceuticals support services firm, which was announced last week.
The acquisition of Stockton, Calif.-based Valley Wholesale Drug expands H.D. Smith's customer base in California to over 1,000 independent pharmacies — about half of the market in the state — and extends H.D. Smiths reach into the Pacific Northwest.
H.D. Smith said that with Triplefin, its prescription pharmaceutical service offering to manufacturing partners and specialty pharmacy customers has "significantly increased." Based in Cincinnati, Triplefin also has offices in Scottsdale, Ariz.; Portland, Ore. (Sharepoint Innovations); and Sarasota, Fla. (Specialty Pharmacy Nursing Network).
"With the recent additions of Valley Wholesale Drug and Triplefin to the H.D. Smith family of companies, our geographic and service-offering reach has expanded greatly, and our business structure must align to meet growing customer needs," H.D. Smith chairman and chief executive officer Dale Smith said in a statement. "We are focused on growth that supports our manufacturing customers as well as our pharmacy, hospital and institutional care customers and the patients they serve.
"It is critical that we align talent to meet customer and partner needs efficiently and successfully, and place executives in roles with the highest potential to impact company growth and their own success," Smith added.
The new H.D. Smith Specialty Solutions unit will serve as the umbrella organization for the company's specialty pharmaceuticals assets: Smith Medical Partners, H.D. Smith's legacy specialty distribution business; Triplefin; H.D. Smith 's Specialty Commercialization team, which will drive the value of the combined resources of Smith Medical Partners and Triplefin for customers; and H.D. Smith 's Third-Party Network, which includes Independence Holding Co., a retail pharmacy operation.
Leading H. D. Smith Specialty Solutions will be industry veteran Joseph Conda, who will serve as president.
"We established H. D. Smith Specialty Solutions in order to ensure maximized performance and effective service offerings throughout the company's specialty business units," Smith stated. "As the organization's new president, Joe brings a wealth of industry, brand and specialty pharmaceuticals and organizational leadership experience to our new umbrella organization. His talent will drive our strategy and manufacturing/patient support solutions portfolio targeted toward specialty and brand pharmaceutical products. Ensuring patient access, education and adherence/compliance to these life-saving medicines is a key aspect of H.D. Smith 's strategic intent."
With the expansion of its specialty drug business, H.D. Smith also has promoted some of its senior management.
Tom Doyle has been named executive vice president of commercial solutions and will lead the commercialization teams across Smith Medical Partners and Triplefin. Bob Appleby has been appointed senior vice president of category management and will lead all of the company's product category efforts, including branded and generic drugs; home health care products and their sales organization; and the health, beauty and wellness product segment.
Meanwhile, Scott Wilson will now lead H.D .Smith's drug divisions, sales organization and Valley Wholesale Drug business with his promotion to senior vice president of drug divisions. And Tom Twitty has been named senior vice president of supply chain management, overseeing supply chain strategy, operations, purchasing, regulatory and compliance.
In addition, H.D. Smith appointed Karen Callaway as executive vice president of human resources and Mark Mehmet as corporate vice president of product development and architecture.
"Realigning executive roles is a natural step in maximizing our company's customer-focused growth potential and opening up exciting possibilities for our business, our customers and the patients they serve," commented Chris Smith, president and chief operating officer of H.D. Smith. "Placing these executives in these roles ensures H.D. Smith will capitalize on opportunities for growth in specific geographies and business segments while maximizing the talents of our associates. Each of these leaders has shown a tremendous ability to lead their respective business units."
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