H.D. Smith secures majority ownership in patient assistance firm Triplefin
SPRINGFIELD, Ill. — H. D. Smith on Tuesday announced plans to secure majority ownership in Triplefin, a privately held reimbursement, patient assistance and pharmaceutical brand support services company headquartered in Cincinnati, Ohio. H. D. Smith will immediately obtain majority board vote, and by mid-2013, majority stock ownership.
"In keeping with our strategic intent of being the leader in controlling healthcare costs while maximizing patient outcomes, the collective strengths of Triplefin and Smith Medical Partners makes us an important voice in traditional brands and specialty medicines — a stronger partner for manufacturers; a more valuable service provider for institutions, acute care, physician offices, specialty pharmacies and retail pharmacies; and a reliable supplier for patients treated with prescription medicines," stated Dale Smith, chairman and CEO H. D. Smith. "The benefit of this investment is tremendous — providing both service and size expansion for our Smith Medical Partners specialty product business, and a boost to customers and patients with important, unique health needs. Together, our organizations create an end-to-end service value chain touching many elements of prescription medicine distribution and support."
"The combination of these companies is complementary in both service offerings and value to our collective customers," added Greg LaLonde, CEO Triplefin. "Smith Medical Partners brings to Triplefin critical support functions in traditional brand and specialty products distribution, clinical trial procurement and third-party logistics — all important functions necessary to support manufacturers, their brands and the patients that require specialized healthcare services in parallel with medical treatment."
The investment will combine Triplefin under H. D. Smith's Specialty Solutions business alongside Smith Medical Partners.
Terms of the transaction were not disclosed.
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