SPRINGFIELD, Ill. — H. D. Smith on Tuesday announced the establishment of H. D. Smith Specialty Solutions, an organization structured to provide focus and alignment around specialty and traditional brand products, solutions and services. The wholesaler also announced the realignment of select executive leadership positions to best capitalize on the growing needs resulting from recent geographic and service expansions. These expansions include the acquisition of Valley Wholesale Drug in October 2012 and a planned majority ownership investment in Triplefin announced in January 2013.
"With the recent additions of Valley Wholesale Drug and Triplefin to the H. D. Smith family of companies, our geographic and service-offering reach has expanded greatly — and our business structure must align to meet growing customer needs," stated Dale Smith, chairman and CEO H. D. Smith. "We are focused on growth that supports our manufacturing customers as well as our pharmacy, hospital and institutional care customers and the patients they serve. It is critical that we align talent to meet customer and partner needs efficiently and successfully, and place executives in roles with the highest potential to impact company growth and their own success."
Valley Wholesale Drug operates as a wholly owned subsidiary of H. D. Smith from its California headquarters, increasing the company's customer base in California and expansion into the Pacific Northwest. Triplefin is a brand and specialty pharmaceutical support services company headquartered in Cincinnati. With Triplefin, H. D. Smith's prescription pharmaceutical service offering to manufacturing partners and specialty pharmacy customers has significantly increased.
The largest structural change to the company is the formation of H. D. Smith Specialty Solutions, to be led by Joseph Conda, and which will serve as the umbrella organization, bringing together the company's specialty pharmaceuticals assets: Smith Medical Partners, a wholly owned subsidiary, that represents the company's legacy specialty distribution business;Triplefin, a partially owned subsidiary that offers brand and specialty pharmaceutical support services company; H. D. Smith's Specialty Commercialization team, a team that will accelerate the value of the combined resources of SMP and Triplefin for the benefit of the customer throughout the pharmaceutical supply chain, for both key products and services and key market segments; and H. D. Smith's third-party network, which includes Independence Holding Company, a wholly owned retail pharmacy operation.
"We established H. D. Smith Specialty Solutions in order to ensure maximized performance and effective service offerings throughout the company's specialty business units," Smith said. "As the organization's new president, Joe brings a wealth of industry, brand and specialty pharmaceuticals and organizational leadership experience to our new umbrella organization. His talent will drive our strategy and manufacturing/patient support solutions portfolio targeted toward specialty and brand pharmaceutical products," Smith added. "Ensuring patient access, education and adherence/compliance to these life-saving medicines is a key aspect of H. D. Smith's strategic intent."
In addition to the creation of H. D. Smith Specialty Solutions, the company appointed the following senior executives to new positions:
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