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Creation of a holding company streamlines future acquisitions; focus is on specialty drug services
Dale Smith (left) is now chairman of H. D. Smith Holding Co.; Chris Smith is now president of H. D. Smith Wholesale Drug Co.
H. D. Smith Wholesale Drug Co. (Springfield, IL) is now part of H. D. Smith Holding Company; but behind this superficial name change, new directions are being contemplated for the company, the largest privately held drug wholesaler in the US.
The name change also reorganizes management of the $4-billion/year wholesaler. Dale Smith, chairman and CEO of the existing company, becomes chairman and CEO of the holding company. Chris Smith, formerly president and COO, is now president and CEO of the wholesale company. Bob Appleby, former SVP of category management, is now president of H. D. Smith Specialty Solutions, which includes subsidiaries Smith Medical Partners and Triplefin. And Joe Conda, former president of Specialty Solutions, joins the Office of the Chairman as EVP, with a focus on business development, acquisitions and alliances.
In the past three years, notes Appleby, the company has acquired Valley Wholesale Drug, to both expand in California and to get closer to the independent pharmacy sector; and Triplefin, to provide services to manufacturers, especially around specialty and alternate-care markets.
“Specialty pharmacy is an increasingly important patient-care priority that requires deep sector expertise,” says Appleby. “With the shift toward personalized care and specialty medicine throughout our healthcare system, local pharmacies and hospitals are seeking expert support to help ensure their patients are able to access the medicines they need, no matter where they are located in the country; manufacturers are seeking distribution partners who can help ensure innovations reach patients in a timely and convenient way; and patients are seeking support in navigating reimbursement hurdles and learning how to self-administer and store complex medicines. H. D. Smith provides support services and programs for each of these critical components of the patient-care journey, from manufacturing facility to patient bedside. We are growing alongside our customers and partners to help meet these needs.”