The Apothecary Shops acquires GSP

PHOENIX The Apothecary Shops, a Phoenix-based chain of specialty pharmacies with 16 locations in six states, has acquired the Greater Sacramento Specialty Pharmacy.

GSP, which provides services to patients and practitioners in California, Oregon, Nevada, Washington, Idaho and Montana, will be a wholly owned subsidiary of The Apothecary Shops and will continue operating under the Greater Sacramento Specialty Pharmacy name. The acquisition of GSP bolsters the oncology specialty business for The Apothecary Shops. Financial terms of the deal were not disclosed.

Previous owner and pharmacist Tim Le will remain on full time in the role of GSP general manager.

"Greater Sacramento Pharmacy is a significant player in the specialty pharmacy market with a business model very similar to The Apothecary Shops. We have had our eye on GSP for some time, both as a competitor and a potential acquisition," stated Apothecary Shops president Keith Cook. "GSP maintains a very high emphasis on customer service to their patients and physician providers, and there is a tremendous synergy between the two companies that will be increasingly valuable as we move forward with the integration."

The Apothecary Shops recently opened retail operations in Los Angeles; St. Louis, Mo.; Albuquerque, N.M.; and Las Vegas. Last year, The Apothecary Shops expanded its mail-order fulfillment center in Phoenix to 21,000 sq. ft., allowing the company to generate sales in all 50 states.