H.D. Smith buys majority stake in Triplefin
SPRINGFIELD, Ill. – Pharmaceutical wholesaler H.D. Smith will buy a majority interest in a Cincinnati-based patient assistance, pharmaceutical brand support and reimbursement company.
The wholesaler said Thursday that it had originally acquired majority board representation in Triplefin and would secure majority stock ownership in it. Financial terms of the deal were not disclosed.
H.D. Smith said combining the two companies would create and end-to-end service value chain touching all aspects of prescription medicine distribution and support, with Triplefin working alongside Smith Medical Partners, and both subsidiaries being under H.D. Smith's Specialty Solutions division.
"The completion of this acquisition affirms the service power of two highly specialized, focused organizations that help advance traditional and specialty brand pharmaceutical support offerings to manufacturing partners, specialty pharmacy customers, healthcare professionals and most importantly patients with highly specialized healthcare needs," H.D. Smith chairman and CEO Dale Smith said. "The benefit of Triplefin joining H.D. Smith Specialty Solutions is already seen across all channels of our business; we are now a stronger partner for brand and specialty manufacturers, a highly valuable service provider for institutions, acute care, physician offices, specialty and retail pharmacies and a trusted supplier for patients expecting reliable access to prescription medicines."
Expanded service offerings provided by Triplefin include critical distribution and fulfillment, pharmacy services, technology and specialty product education.
"The specialty health services model of today does more than just ensure that a product travels safely and securely from manufacturer to patient," H.D. Smith Specialty Solutions president Joseph Conda said. "Today's model must ensure that the needs of pharmacists, physicians, payers, group purchasing organizations and patients are met, from patient care information and education materials to clinical needs."