Arete Pharmacy Network, LLC, a quality-focused national Pharmacy Services Administrative Organization (PSAO), announced today that it has acquired RxPride, LLC, a PSAO formerly owned by Minnesota-based pharmacy buying group—Smart-Fill Management Group, Inc.
Arete Pharmacy Network was founded in March 2016 as a joint venture between H. D. Smith’s Third Party Network and American Associated Pharmacies’ United Drugs. The acquisition of RxPride furthers Arete Pharmacy Network’s goal of expanding its geographical footprint as part of a deliberate strategy to extend the benefits of its programs and services to a larger pool of independent and small chain community pharmacies.
“Since the establishment of Arete Pharmacy Network, our efforts have been geared toward building a solid foundation for growth that will support independent pharmacies in their own efforts to improve quality performance and profitability,” Rob McMahan, chief executive officer of Arete Pharmacy Network said. “Through the hard work and diligence of our staff as well as the support of our current member pharmacies, Arete Pharmacy Network is poised to achieve the next level of growth with the acquisition of RxPride.”
Both Arete Pharmacy Network and Smart-Fill Management Group offer independent pharmacies an opportunity to thrive by advancing the collective interest of these pharmacies so as to propel them toward longevity in the market.
“Because the largest segment of H. D. Smith’s customer base is community pharmacies, we created Arete to provide the tools to help our customers improve access and reimbursement,” said Dale Smith, chairman and CEO of H. D. Smith Holding Co. and chairman of the Arete Pharmacy Network Board of Directors. “The addition of RxPride’s pharmacies is just one example of the steady growth in our already thriving PSAO. We will continue to build on the strong foundation Arete offers community pharmacies.”
“The expanded reach of Arete Pharmacy Network’s programs and services will provide the economies of scale and efficiency gains that an independent pharmacy requires for success in today’s healthcare environment,” said Jeremy Johnson, chief operating officer of Smart-Fill Management Group. “Based on the demonstrated value of its services, Arete Pharmacy Network has earned a reputation as a quality PSAO and we are confident that the independent pharmacies previously served by RxPride are in very good hands.”
Based on industry expertise and a highly differentiated managed care contracting model, the team at Arete Pharmacy Network fully appreciates the delicate balance between serving the interests of the independent pharmacies it represents and meeting the needs of Pharmacy Benefit Managers (PBMs) as well as other third party payers.
About Smart-Fill Management Group
Smart-Fill Management Group is a family-owned company that provides a powerful package of business solutions to independent pharmacies across the nation, empowering them to compete with national pharmacy chains and continue providing the highest level of patient care in the industry. Headquartered in Austin, Minnesota, the company was built to help its members thrive with the buying power of a chain and the back-office technology services that enable pharmacy owners to focus on serving their patients. For more information, visit Smart-Fill.com.
About Arete Pharmacy Network
Arete Pharmacy Network serves independent community pharmacies through a portfolio of expanded tools and services designed to help pharmacies deliver quality care to their communities. With a core focus on managed care contracting and service excellence, Arete Pharmacy Network supports the effective management of the financial, quality, and operational aspects of pharmacy business. For more information, visit areterx.com.
About H. D. Smith
H. D. Smith is the largest, privately held national wholesaler, with a complete line of healthcare products and solutions to improve patient care. The company creates value and an extraordinary customer experience by impacting the healthcare supply chain. Bridging the gap between manufacturer and patient, H. D. Smith’s specialty solutions division offers a unique suite of strategic programs for patient access on behalf of pharmaceutical suppliers. Headquartered in Springfield, Illinois, H. D. Smith also operates CompleteCare Pharmacy, Smith Medical Partners, Triplefin and Valley Wholesale Drug.