tedkov
5 years ago
Diplomat Pharmacy Shareholders Upset Over Merger Bid (Seek to file Lawsuit)- (via Business Journal)
December 9, 2019
Tags: United States Diplomat UnitedHealth Corporate Affairs Mergers & Acquisitions
A group of Diplomat Pharmacy, Inc. shareholders are attempting to block the $300 million purchase of the company by UnitedHealth Group Inc. Under terms of the definitive merger agreement, UnitedHealth will acquire the outstanding shares of Diplomat common stock for $4 per share.
The deal would represent a hefty discount of approximately 31% to the preceding trading day. The deal is slated to close next year, pending approval by regulators and a majority of Diplomat shareholders.
The shareholders allege that the purchase price of $4 per share is insufficient and that deal-protection clauses in the merger agreement preclude other companies from submitting successful competing offers. In addition, shareholders allege that senior management of Diplomat obtained personal benefits for their own self interests in agreeing to sell the company at that price that are not being shared with common stockholders.
Diplomat's investor relations did not immediately respond to requests for a comment.
To contact the law firm on behalf of shareholders of Diplomat for more information as to how you can participate with other shareholders in seeking a higher price at no cost or expense can call toll free 800.511.7037 or email at contact@tripplevy.com
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whytestocks
5 years ago
News: $DPLO Diplomat Announces 2nd Quarter Financial Results; Updates 2019 Guidance
FLINT, Mich. , Aug. 9, 2019 /PRNewswire/ -- Diplomat Pharmacy, Inc. (NYSE: DPLO), the nation's largest independent provider of specialty pharmacy and infusion services, announced financial results for the quarter ended June 30, 2019 . All comparisons, unless otherwise noted, are to...
Read the whole news Diplomat Announces 2nd Quarter Financial Results; Updates 2019 Guidance
whytestocks
5 years ago
News: $DPLO Diplomat Announces Review of Strategic Alternatives
FLINT, Mich. , Aug. 9, 2019 /PRNewswire/ -- Diplomat Pharmacy, Inc. (NYSE: DPLO) today announced that its Board of Directors is reviewing strategic alternatives. At the direction of its Board of Directors, the company is reviewing strategic alternatives focused...
In case you are interested Diplomat Announces Review of Strategic Alternatives
FUNMAN
7 years ago
Diplomat Acquires 8th Day Software, Names New CIO
The nation's largest independent provider of specialty pharmacy services names Dave Loschinskey chief information officer and acquires the technology firm he founded
FLINT, Mich., Oct. 2, 2017 /PRNewswire/ -- Diplomat Pharmacy, Inc. (NYSE: DPLO) has acquired 8th Day Software and Consulting, LLC, and named its founder as Diplomat's chief information officer.
8th Day Software, based in Tennessee, will operate under Diplomat subsidiary Envoy Health Management LLC. 8th Day expands EnvoyHealth's service offerings for health care partners to include IT outsourcing, consulting, and product development.
"In an interoperable world, technology delivers comprehensive insight and sustainable value for patients and health care partners," said Jennifer Cretu, senior vice president of pharma services and marketing at Diplomat.
Dave Loschinskey, founder of 8th Day, becomes Diplomat's CIO. He served as CEO of 8th Day since it launched in 2013. The company is experienced in building technologies for patient engagement, reporting, hub management, payor services, and more.
"The health care market has shown significant demand for information technology services," said Phil Hagerman, CEO and chairman of Diplomat. "Dave built 8th Day along with past Accredo leaders, and their unique health care experience will bring new opportunities to provide better and broader services for our customers. Diplomat continues to move its analytics capabilities up the business intelligence curve from descriptive to predictive."
Loschinskey will oversee Diplomat's information technology strategy, day-to-day operations, and product development. He brings more than 20 years of experience in technology and software development, with a focus on the specialty pharmacy space.
"Since our founding, 8th Day has built technology designed to help our customers best serve their patients," Loschinskey said. "The same patient-first mentality is woven into Diplomat's culture, making this partnership all the more exciting. I'm proud to join such an innovative company as Diplomat."
Before founding 8th Day, Loschinskey spent nearly a decade with Accredo, which joined Medco and is now Express Scripts' specialty pharmacy—first as vice president of software development, then as chief information officer, and finally as vice president of business innovation. Previously, he served five years as senior director for Oracle Corporation, a multinational computer technology company.
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