Diplomat Pharmacy sells compounding business to focus on specialty

MADISON, Wis. — Restore Health on Thursday announced it has entered into an agreement to acquire the compounding pharmacy assets of Diplomat Pharmacy. 

 

"Restore Health's dedication to providing personalized medicine echoes our strong commitment to patient care," Diplomat CEO and chairman Phil Hagerman said. "A seamless transition for our patients and our partners is of utmost importance and we believe Restore Health's comprehensive service solution will fully safeguard this change."

 

Diplomat's current compounding pharmacy services include the preparation of personalized medications for patients and compounding pharmacists who work with prescribers to customize a medication to meet a patient's specific health needs. The acquisition of Diplomat's compounding pharmacy assets by Restore Health enables Diplomat to continue their singular focus on specialty pharmacy, the companies stated. 

 

"Diplomat has been a respected competitor in pharmacy compounding for many years," said Murray Firestone, president of Restore Health. "It is, indeed, a privilege to continue to care for the patients and providers accustomed to Diplomat's exceptional service. Acquiring this book of business is another important step in our strategy to consolidate this sector-in-transition as compounding matures under increasing regulatory scrutiny and payor pressure."

 

"We are pleased to have the opportunity to service Diplomat's compounding patients and providers from the Restore Health platform," said Matt Wanderer, CEO of Restore Health. "Just as Diplomat and Restore have done for decades, we will continue building patient and provider loyalty, one consultation at a time."