Diplomat closes TNH Specialty Pharmacy acquisition

FLINT, Mich. — Diplomat Pharmacy on Thursday announced that it had completed its acquisition of Valley Campus Pharmacy, which does business as TNH Advanced Specialty Pharmacy providing individualized patient care in Van Nuys, Calif. 

 

“The combined resources of both companies opens new sales synergies and makes our services stronger in the evolving specialty pharmacy market.” Diplomat CEO and president Phil Hagerman said. “TNH's established physician referral presence in California and Texas strengthens Diplomat's footprint in key geographic markets. Further, the recent purchase of a licensed Texas facility to enable brick-and-mortar presence will allow us to open the door to service the state's 3.7 million Medicaid patients. As we integrate TNH into our family of companies, we will be leveraging their expertise, while remaining focused on providing care one patient at a time.”

 

Diplomat has paid TNH — which brought in $400 million in revenue in 2015 — $65 million in cash and $10 million in Diplomat common stock. The company expects the acquisition to be accretive to earnings in 2016. 

 

“Diplomat is a family-grown business guided by the philosophy, ‘Take good care of the patients and the rest falls into place,’” TNH CEO Avo Minasyan said. “We share that same philosophy, and are committed to maintaining the highest standards of customer care in the industry. TNH was founded based on the need to improve industry standards through technology for advanced specialty pharmacy services. Together, we will continue the dedication to high-touch management programs to enhance the entire care experience.”