FLINT, Mich., Sept. 11, 2017 /PRNewswire/ -- Diplomat
Pharmacy, Inc. (NYSE: DPLO), has completed its acquisition of
Focus Rx Pharmacy Services Inc., a specialty and infusion pharmacy
with two locations in New York
state.
Focus Rx is a customer-focused health care partner that provides
home infusion and specialty prescription management services. This
acquisition bolsters Diplomat's offering of extensive solutions to
meet growing demand for infusion therapies.
"This partnership opens growth opportunities, especially in the
key markets of New York and
New Jersey," said Phil Rielly, Diplomat vice president and
president of Diplomat Specialty Infusion Group. "Focus Rx brings
over 15 regional and national payor contracts, boosting Diplomat's
prescription and payor access."
Diplomat's specialty infusion services are built on the combined
experience of experts in a range of areas and fully dedicated to
meeting the specialized needs of individuals living with chronic
conditions including alpha-1 antitrypsin deficiency, hemophilia,
hereditary angioedema, immune deficiencies, nutritional
deficiencies, and von Willebrand disease. The Focus Rx nutrition
deficiency business will complement ThriveRx, the nutrition
division of Diplomat Specialty Infusion Group—providing significant
growth in the New York market.
"As a specialty infusion provider in today's rapidly evolving
health care environment, we are excited to partner with Diplomat to
enhance the delivery of comprehensive and personalized services to
our patients," said Lou Puleo, CEO
of Focus Rx. "Our efforts improve patient results, as well as the
clinical, operational, and financial well-being of our partners,"
Puleo said. "Diplomat will further our commitment, enabling us to
deliver integrated health care services to new and existing
consumers and advancing our strong clinical expertise."
Focus Rx is expected to generate approximately $47 million in revenue and $3 million in adjusted EBITDA for the full year
2017. Harbor Healthcare Consultants, a boutique investment banking
firm, assisted Focus Rx as their exclusive advisor.
Forward-Looking Statements
This press release contains forward-looking statements made
pursuant to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. Forward-looking statements give
current expectations or forecasts of future events or our future
financial or operating performance. The forward-looking statements
contained in this press release are based on management's
good-faith belief and reasonable judgment based on current
information. These risks and uncertainties include: delays or
difficulties in integrating the combined businesses; general
economic conditions in the regions and industries in which the
parties operate; and the ability to achieve cost savings and
operating synergies and the timing thereof. These statements are
qualified by important risks and uncertainties, many of which are
beyond our control, that could cause our actual results to differ
materially from those forecasted or indicated by such
forward-looking statements. For a discussion of such risks and
uncertainties, you should review Diplomat's filings with the
Securities and Exchange Commission, including "Risk Factors" in
Diplomat's Annual Report on Form 10-K for the year ended
Dec. 31, 2016, and in subsequent
reports filed with or furnished to the Securities and Exchange
Commission. Except as may be required by any applicable laws,
Diplomat assumes no obligation to publicly update such
forward-looking statements, which are made as of the date hereof or
the earlier date specified herein, whether as a result of new
information, future developments or otherwise.
About Diplomat
Diplomat (NYSE: DPLO) is the nation's largest independent
provider of specialty pharmacy services—helping patients and
providers in all 50 states. The company offers medication
management programs for people with complex chronic diseases and
delivers unique solutions for manufacturers, hospitals, payors,
providers, and more. Diplomat opened its doors in 1975 as a
neighborhood pharmacy with one essential tenet: "Take good care of
patients and the rest falls into place." Today, that tradition
continues—always focused on improving patient care and clinical
adherence. For more information, visit diplomat.is.
About Focus Rx
Focus Rx is a health care partner that provides home infusion
and specialty prescription management services. The company
partners with hospitals, specialty practices, and clinics to
deliver comprehensive and personalized services. Focus Rx improves
patient outcomes, as well as its partners' clinical, operational,
and financial well-being. For more information, visit
myfocusrx.com.
CONTACT:
Bob East,
Westwicke Partners
443.213.0500 | diplomat@westwicke.com
Jenny Cretu, Diplomat Pharmacy
Inc.
810.768.9370 | press@diplomat.is
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SOURCE Diplomat Pharmacy, Inc.