SPARTANBURG, S.C. — In a move that will Bolster J.M. Smith’s offerings in the Northeast, Burlington Drug Co. and some retail operations assets of Pharmacy Health Services will be joining J.M. Smith under a merger agreement, the companies announced Tuesday. Under the agreement, Burlington Drug and PHS ill operate as subsidiaries of J.M. Smith, with Burlington Drug continuing to manage all operations, customer service and sales functions out of its Milton, Vt. Headquarters. PHS will continue serving customers at their existing locations.
“The Northeast has long been an important market for J.M. Smith Corp.,” J.M. Smith chairman and CEO William Cobb said. “We opened a regional office in New England thirty years ago for our QS/1 customers, and will now be able to offer an even greater array of products and services in New England. J M Smith prides itself on customer relationships based on trust and service, and Burlington Drug Company will be a great addition to our business portfolio.”
The companies said that the merger would bring Burlington Drug customers access to the HealthWise Pharmacy suite of solutions alongside access to an expanded line of products and services, among them branding and marketing solutions, access to a specialty-at-retail network, long-term care pharmacy solutions, business consultation services, and purchasing and inventory solutions. Burlington Drug has been in business since 1891 and has been family-run since 1912, and J.M. Smith began as a family-owned pharmacy in 1925.
“Our companies are cut from the same cloth – we share the same values, ethics and guiding principles,” Burlington Drug president John Mitiguy said. “We have a long tradition over multiple generations in this business, so it was important to us to find an organization with a similar, successful history. Our customers and our employees are going to appreciate being part of J.M. Smith Corporation.”