SPRINGFIELD, Ill. — H. D. Smith on Monday announced full ownership acquisition of Triplefin, a reimbursement, patient assistance and pharmaceutical brand-support services company headquartered in Cincinnati. H. D. Smith secured majority representation on Triplefin's board of directors in January 2013 and majority stock ownership interest in May 2013.
H.D. Smith has now acquired the remaining 49% of shares in Triplefin, giving the wholesaler full ownership. Triplefin will operate as a wholly owned subsidiary of H. D. Smith within the H. D. Smith Specialty Solutions Operating Unit.
"H. D. Smith is committed to providing end-to-end value throughout the healthcare chain to our customers and the patients they serve — and the Triplefin mission to remove barriers, connect patients and grow brands fits perfectly with the H. D. Smith Specialty Solutions focus on the patient journey," stated Dale Smith, chairman and executive officer, H. D. Smith. "Our interest in Triplefin began a year ago, sparked by the company's specialized offerings across patient support programs, distribution/fulfillment, marketing, pharmacy services, technology and specialty product education functions. Together, our organizations have already integrated many of our functions, and established an end-to-end service value chain touching all aspects of prescription medicine distribution and support."
Together, the combined organization will continue to provide support services to traditional brand and specialty product manufacturers and pharmacy partners, including distribution and fulfillment functions, patient assistance and reimbursement programs, third-party logistics, pharmaceutical marketing and product education.
"Triplefin shares the H. D. Smith Specialty Solutions commitment to supporting patients from the moment they begin receiving care, to the completion of their treatment," said Joseph Conda, president of H. D. Smith Specialty Solutions. "We remain impressed and inspired by the organization that Greg LaLonde and Rick Randall have built over the past 10 years, and we are enthusiastic about driving their mission forward — reshaping the patient journey through end-to-end solutions."
Financial terms of the full ownership acquisition were not disclosed.