Greater Sacramento Specialty Pharmacy acquired by The Apothecary Shops

Aug 30 2010

The Apothecary Shops, a Phoenix-based chain of specialty pharmacies with 16 locations in six states, has acquired the Greater Sacramento Specialty Pharmacy (GSP), a customer-service focused pharmacy with primary specialties in oncology and pain management.

“is strategically important for our growth both geographically and tactically as we continue to aggressively look for opportunities to expand our presence throughout the United States.”

GSP, which provides services to patients and practitioners in California, Oregon, Nevada, Washington, Idaho and Montana, will be a wholly-owned subsidiary of The Apothecary Shops and will continue operating under the Greater Sacramento Specialty Pharmacy name. The sales price was not disclosed.

Previous owner and pharmacist Tim Le, Pharm.D. will remain on full time in the role of GSP general manager.

"Greater Sacramento Pharmacy is a significant player in the specialty pharmacy market with a business model very similar to The Apothecary Shops. We have had our eye on GSP for some time, both as a competitor and a potential acquisition," said Apothecary Shops President Keith Cook. "GSP maintains a very high emphasis on customer service to their patients and physician providers and there is a tremendous synergy between the two companies that will be increasingly valuable as we move forward with the integration."

The acquisition of GSP adds a substantial volume of oncology specialty business to The Apothecary Shops.

Cook said the acquisition "is strategically important for our growth both geographically and tactically as we continue to aggressively look for opportunities to expand our presence throughout the United States."

The Apothecary Shops recently opened retail operations in Los Angeles, St. Louis, Mo., Albuquerque, N.M. and Las Vegas. Last year, The Apothecary Shops expanded its state-of-the-art mail order fulfillment center in Phoenix to 21,000 square feet, allowing the company to generate sales in all 50 states.