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FLINT, Mich. — Diplomat Pharmacy Inc. has wrapped up its $75 million acquisition of TNH Advanced Specialty Pharmacy.
Phil Hagerman
Van Nuys, Calif.-based TNH provides specialty medications and support for such disease states as oncology, Crohn’s disease, cystic fibrosis, hepatitis, HIV/AIDS, multiple sclerosis, psoriasis and rheumatoid arthritis, as well as infusion therapy and pharmacy services for transplant patients.
“The combined resources of both companies opens new sales synergies and makes our services stronger in the evolving specialty pharmacy market,” Diplomat chairman and chief executive officer Phil Hagerman said in a statement. “TNH’s established physician referral presence in California and Texas strengthens Diplomat’s footprint in key geographic markets.
“Further, the recent purchase of a licensed Texas facility to enable brick-and-mortar presence will allow us to open the door to service the state’s 3.7 million Medicaid patients,” Hagerman noted.
Under the deal, announced in late April, Diplomat is paying Valley Campus Pharmacy Inc. — doing business as TNH Advanced Specialty Pharmacy — $65 million in cash and $10 million in common stock. TNH totaled sales of about $400 million in 2015.
“Diplomat is a family-grown business guided by the philosophy, ‘Take good care of the patients and the rest falls into place.’ We share that same philosophy and are committed to maintaining the highest standards of customer care in the industry,” stated Avo Minasyan, CEO of TNH. “TNH was founded based on the need to improve industry standards through technology for advanced specialty pharmacy services. Together, we will continue the dedication to high-touch management programs to enhance the entire care experience.”
