FLINT, Mich., Oct. 16, 2019 /PRNewswire/ -- Diplomat
Pharmacy, Inc. (NYSE: DPLO), effective today, has
completed the sale of certain assets of Envoy Health Management,
LLC to Diligent Health Solutions, LLC, a multifaceted healthcare
communication center. Financial details and additional terms of the
transaction were not disclosed.
The contracts administered at the Chantilly, Virginia location as well as
associated Envoy Health Management employees have been transferred
to Diligent Health Solutions. Diplomat is retaining a portion of
the Envoy Health Management operations, specifically the portion
operated out of the Flint,
Michigan location, which will continue to specialize in
digital therapeutics and pharmaceutical services.
"Diplomat continues to support manufacturers with specialty drug
and digital therapeutics services," Brian
Griffin, CEO and chairman of Diplomat said. "With the sale
of certain Envoy Health Management assets to Diligent Health
Solutions, we are divesting non-core assets and expect to utilize
the proceeds to pay down debt."
Diligent Health Solutions serves the pharmaceutical, biotech,
medical device, and non-profit industries with a center supported
by subject matter experts and highly experienced client services
and operational management professionals. Diligent Health Solutions
offers clients customized and cost-effective solutions, as well as
unsurpassed attention from senior executives. The company takes a
long-term view of its client partnerships and invests resources to
ensure clients meet their goals and objectives — and are fully
satisfied with their services.
Mary Anne Greenberg, Diligent
Health Solution's CEO said, "With this acquisition, Diligent will
now have locations in Philadelphia
and Washington DC and we'll be
able to leverage Diligent's newer technology and share expert
resources across both locations. This is an exciting and strategic
step for us, and we look forward to welcoming this esteemed team of
contact center specialists, leaders, and client partners to the
Diligent Health Solutions family."
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, and may include Diplomat's
expectations regarding the results of business or asset
dispositions, impact of actions to reduce indebtedness, expected
benefits and performance of business and growth strategies, the
strategic alternatives review process and potential transactions
that may be identified and explored as a result of such review
process, impact of operational improvement initiatives and results
of operational and capital expenditures. 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 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. These
risks and uncertainties include: our ability to adapt to changes or
trends within the specialty pharmacy industry; our relationships
with wholesalers and key pharmaceutical manufacturers; our debt
service obligations; maintaining compliance with our amended credit
facility covenants; increased financing and other costs;
investments in new business strategies and initiatives, including
with respect to data and analytics capabilities, could disrupt our
ongoing business and present risks not originally contemplated;
potential disruption to our workforce and operations due to cost
savings and restructuring initiatives; the ability to identify and
consummate strategic alternatives that yield additional value for
shareholders; the timing, benefits and outcome of the Company's
ongoing strategic alternatives review process, including the
determination of whether or not to pursue or consummate any
strategic alternative; the structure, terms and specific risks and
uncertainties associated with any potential strategic transaction;
potential disruptions in our business and the stock price as a
result of our exploration, review and pursuit of strategic
alternatives or the public announcement thereof and any decision or
transaction resulting from such review, including potential
disruptions with respect to our employees, vendors, clients and
customers; and the additional factors set forth in "Risk Factors"
in Diplomat's most recent Annual Report on Form 10-K 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 and infusion services. Diplomat
helps people with complex and chronic health conditions in all 50
states, partnering with payers, providers, hospitals,
manufacturers, and more. Rooted in this patient-care expertise,
Diplomat also serves payers through CastiaRx, a leading specialty
benefit manager, and offers tailored solutions for healthcare
innovators through EnvoyHealth. 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. For
more information, visit diplomat.is.
About Diligent Health Solutions
Founded by Life Science industry veterans Mary Anne Greenberg and Ron Abel, Diligent Health Solutions provides
biopharma companies with a broad range of solutions and services,
including patient engagement programs, medical information,
creation of health information content, medical device support,
telephone-based pharmaceutical sales, and product recall support.
For more information, visit diligenthealthsolutions.com.
INVESTOR CONTACT
Terri Anne
Powers, Vice President Investor Relations
312.889.5244 | tpowers@diplomat.is
MEDIA CONTACT
Jennifer
Pavlovich, Corporate Communications Manager
810.768.9282 | press@diplomat.is
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SOURCE Diplomat Pharmacy, Inc.