PHOENIX — Pharmacy services administrative organization Arete Pharmacy Network on Friday announced that it would be acquiring the PSAO RxPride from Minnesota-based pharmacy buying group Smart-Fill Management Group.
Arete Pharmacy Network — which was formed in March as a joint venture between H.D. Smith’s Third Party Network and American Associated Pharmacies’s United Drugs — said the acquisition would expand its geographical footprint as part of its effort to extend its programs and services to a larger pool of independent and small chain pharmacies.
“Since the establishment of Arete Pharmacy Network, our efforts have been geared toward building a solid foundation for growth that will support independent pharmacies in their own efforts to improve quality performance and profitability,” Arete CEO Rob McMahan said. “Through the hard work and diligence of our staff as well as the support of our current member pharmacies, Arete Pharmacy Network is poised to achieve the next level of growth with the acquisition of RxPride.”
Both Arete and Smart-Fill Management Group work with independent pharmacies to serve their interests while also meeting the needs of pharmacy benefit managers and payers.
“The expanded reach of Arete Pharmacy Network’s programs and services will provide the economies of scale and efficiency gains that an independent pharmacy requires for success in today’s healthcare environment,” Smart-Fill Management Group CEO Jeremy Johnson said. “Based on the demonstrated value of its services, Arete Pharmacy Network has earned a reputation as a quality PSAO and we are confident that the independent pharmacies previously served by RxPride are in very good hands.”