BioScrip boosts sales, narrows losses in Q2
ELMSFORD, N.Y. — Specialty pharmacy provider BioSrip had sales of $441.4 million and a loss of $2.3 million during second quarter 2011, the company said.
The sales figure for the quarter, which ended June 30, represented a 7.1% increase over second quarter 2010’s $412 million. This included a rise in pharmacy services revenue to $332.1 million, from $305.4 million in second quarter 2010, and an increase in infusion and home health services revenue to $109.3 million, from $106.7 million the year before. The quarter’s losses represented a decrease of about $0.8 million compared with second quarter 2010.
"Overall, we are making positive steps forward in establishing ourselves as a recognized national provider of infusion and pharmacy services, and the initiatives we put in place with managed care payers over the last year are beginning to produce results," BioScrip president and CEO Rick Smith said. "While there is still more work to be done, we are pleased to see progress as we look forward to the second half of the year."
For the first six months of fiscal 2011, sales were $880.7 million, compared with $747.1 million in second quarter 2010. Profits for the first six months were $0.6 million, compared with a loss of $4 million during the first six months of 2010.
Katz Group Canada names chief merchandising officer
TORONTO — Katz Group Canada, Canada’s largest integrated retail pharmacy network, has appointed Ken Keelor as chief merchandising officer, effective immediately. Keelor will oversee all merchandising and marketing functions for the Rexall family of pharmacies.
Keelor joins the organization from Sobey’s, a national multibanner grocery chain, where he held a number of executive positions during his 10 years with the company, most recently VP private-label procurement and global sourcing.
“Ken’s more than 20 years of experience in retail merchandising will be a valuable addition to Katz Group Canada’s leadership team. Ken has a proven track record in building winning teams and growing sales and overall business performance through innovative strategies,” stated Frank Scorpiniti, COO of Katz Group Canada. “As we continue to enhance our customer experience, he will be integral to our organization. We’re excited to welcome Ken to our team.”
Giant Eagle to open first retail clinic
PITTSBURGH — Giant Eagle is preparing to open its first in-store clinic in Pennsylvania, according to a report published by the Pittsburgh Business Times on Friday.
The clinic, Healthy Directions, is part of an existing program offered in cooperation with Monongahela Valley Hospital that will relocate to Giant Eagle. The clinic will offer physicals, immunizations and patient education programs on such topics as diabetes, cancer and orthopedics, according to the report.
The first Giant Eagle retail clinic will be located at the grocer’s Finleyville location, just off Route 88. Discussions around locating additional retail clinics within the Giant Eagle banner are ongoing.
“Our partnership with Monongahela Valley Hospital takes our commitment to overall consumer health and wellness to a new level,” stated Randy Heiser, Giant Eagle VP pharmacy. “It creates options that help to avoid costly trips to the emergency room and provide access to care when [patients’] own doctor’s offices are closed.”
Mon Valley, a 210-bed hospital, has operated Healthy Directions in Finleyville for nearly 20 years.