Expanded negotiation power and reach to impact larger pool of pharmacies
PHOENIX--(BUSINESS WIRE)--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.
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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.”
“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.”
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. 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 independent pharmacies 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 www.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 www.areterx.com.
Contacts
Arete Pharmacy Network
Stella Teyegaga, 602-678-1179
Marketing
and Communications
or
Smart-Fill
Management Group
Jeremy Johnson, 507-434-7426