Table of Contents
LINTHICUM, Md. — Care Pharmacies Cooperative Inc. has extended the contract of chief executive officer Michael Wysong.
Michael Wysong
The pharmacy co-op said that during Wysong’s leadership, the organization has seen record growth, with sales surging more than 300% and the company being recognized as a “Hot 100” retailer in three out of the last four years by the National Retail Federation.
“Care Pharmacies is delighted to have Wysong continue in his current leadership role,” Care Pharmacies chairwoman Molly Carr said in a statement. “He has been an extraordinary CEO during his tenure, and his strategic vision has led to record results in every year he has been here. Under his leadership, Care has excelled during a time of great change.”
The company didn’t disclose the length of the contract extension.
Wysong joined Care Pharmacies as CEO and president of the board of directors in September 2010. He previously served as lead vice president of retail sales at AmerisourceBergen Corp. and, before that, was vice president of sales at Cardinal Health Inc.
In an interview earlier this year, Wysong said Care Pharmacies’ 2014 sales were up 26.6% year over year to $463.3 million, driven largely by the market entry of hepatitis C drugs. The gain raised sales per store to $5.8 million from $4.8 million in 2013.
Overall, the co-op has 79 pharmacy locations in California, Florida, Georgia, Maryland, New Jersey, New York, Virginia, Wisconsin and the District of Columbia.
To help support its growing specialty pharmacy business, in May Care Pharmacies said it has teamed up with Aureus Health Services Inc. to launch the Care Pharmacies Specialty Network. Under the partnership, Aureus will provide specialty pharmacy management services to Care’s member pharmacies, as well as resources to support the needs of their specialty patients and providers.
