SPRINGFIELD, Ill., Jan. 22, 2013 /PRNewswire/ -- H. D. Smith, among the nation's largest pharmaceutical wholesalers, today announced the establishment of H. D. Smith Specialty Solutions, an organization structured to provide focus and alignment around specialty and traditional brand products, solutions and services. The company also announced the realignment of select executive leadership positions to best capitalize on the growing needs resulting from recent geographic and service expansions. These expansions include the acquisition of Valley Wholesale Drug in October 2012 and a planned majority ownership investment in Triplefin announced in January 2013.
Valley Wholesale Drug operates as a wholly owned subsidiary of H. D. Smith from its California headquarters, increasing the company's customer base in California and expansion into the Pacific Northwest. Triplefin is a brand and specialty pharmaceutical support services company headquartered in Cincinnati, OH, with offices in Scottsdale, AZ, Portland, OR (Sharepoint Innovations), and Sarasota FL (Specialty Pharmacy Nursing Network). With Triplefin, H. D. Smith's prescription pharmaceutical service offering to manufacturing partners and specialty pharmacy customers has significantly increased.
"With the recent additions of Valley Wholesale Drug and Triplefin to the H. D. Smith family of companies, our geographic and service-offering reach has expanded greatly – and our business structure must align to meet growing customer needs," said Dale Smith, chairman and chief executive officer H. D. Smith. "We are focused on growth that supports our manufacturing customers as well as our pharmacy, hospital and institutional care customers and the patients they serve. It is critical that we align talent to meet customer and partner needs efficiently and successfully, and place executives in roles with the highest potential to impact company growth and their own success."
Creation of H. D. Smith Specialty Solutions
The largest structural change to the company is the formation of H. D. Smith Specialty Solutions, which will serve as the umbrella organization, bringing together the company's specialty pharmaceuticals assets:
- Smith Medical Partners (SMP), a wholly owned subsidiary, that represents the company's legacy specialty distribution business;
- Triplefin, a partially owned subsidiary that offers brand and specialty pharmaceutical support services company;
- H. D. Smith's Specialty Commercialization team, a team that will accelerate the value of the combined resources of SMP and Triplefin for the benefit of the customer throughout the pharmaceutical supply chain, for both key products and services and key market segments: and
- H. D. Smith's Third-Party Network, which includes Independence Holding Company, a wholly owned retail pharmacy operation.
H. D. Smith Specialty Solutions will be led by senior industry veteran Joseph Conda, who will serve as president.
"We established H. D. Smith Specialty Solutions in order to ensure maximized performance and effective service offerings throughout the company's specialty business units," said Dale Smith. "As the organization's new president, Joe brings a wealth of industry, brand and specialty pharmaceuticals and organizational leadership experience to our new umbrella organization. His talent will drive our strategy and manufacturing/patient support solutions portfolio targeted toward specialty and brand pharmaceutical products. Ensuring patient access, education and adherence/compliance to these life-saving medicines is a key aspect of H. D. Smith's strategic intent."
H. D. Smith Senior Leadership Realignment
In addition to the creation of H. D. Smith Specialty Solutions, the company appointed the following senior executives to positions that best meet all customer needs, support growth and maximize
H. D. Smith success:
- Tom Doyle promoted to serve as Executive Vice President Commercial Solutions:Doyle will lead the commercialization teams across Smith Medical Partners and Triplefin for the benefit of customers throughout the pharmaceutical supply chain, for both key products and services in key market segments.
- Karen Callaway promoted to serve as Executive Vice President Human Resources:Callaway will oversee the development and implementation of all human resources policies, programs and services. A member of the Executive Leadership Team, she will provide expertise on personnel issues that impact performance and business relationships.
- Bob Appleby promoted to serve as Senior Vice President Category Management:Appleby will lead all of the company's product category efforts. This includes branded and generic pharmaceuticals, home healthcare (HHC) products and the HHC sales organization as well as the health, beauty and wellness product category.
- Tom Twitty promoted to serve as Senior Vice President Supply Chain Management:Twitty will develop a company supply chain strategy that achieves company strategy and meets company performance objectives. His areas will include operations, purchasing, regulatory and compliance.
- Scott Wilson promoted to serve as Senior Vice President Drug Divisions:Wilson will lead the drug divisions, the sales organization and the Valley Wholesale Drug business, a wholly owned subsidiary.
- Mark Mehmet promoted to serve as Corporate Vice President Product Development and Architecture: Mehmet is responsible for leading product development to support business initiatives, leading production teams from initial inception to final product. In this role he will also identify and propose new information technologies and systems to improve business processes and decision making.
"With so much talent and commitment to H. D. Smith's success among our growing leadership team, realigning executive roles is a natural step in maximizing our company's customer-focused growth potential – and opening up exciting possibilities for our business, our customers and the patients they serve," said Chris Smith, president and chief operating officer. "Placing these executives in these roles ensures H. D. Smith will capitalize on opportunities for growth in specific geographies and business segments, while maximizing the talents of our associates. Each of these leaders has shown a tremendous ability to lead their respective business units, and I look forward to working side-by-side with them to ensure continued H. D. Smith growth and success."
About H. D. Smith
Headquartered in Springfield, Illinois, H. D. Smith is among the largest national full-line, full-service wholesalers providing a range of solutions and services to manufacturers and a complete line of pharmaceuticals, OTCs, HBAs, home healthcare products, durable medical equipment, seasonal merchandise and a wide array of marketing programs to retail pharmacies, regional chains and health systems. The company has locations in California, Florida, Kentucky, Illinois, New Hampshire, New Jersey, Ohio and Texas that service major markets throughout the United States. Additional information about H. D. Smith can be found at hdsmith.com.
REPORTERS/EDITORS: Photos and biographies of all executives available upon request.
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