Diplomat Pharmacy

Diplomat Pharmacy, Inc., is the largest independent specialty pharmacy in the United States.^[1] Headquartered in Flint, Michigan, Diplomat has facilities across the United States and dispenses drugs in all 50 states.^[2] Diplomat offers specialized medication and medication management programs for patients with complex and chronic conditions such as cancer, hepatitis, multiple sclerosis, HIV and others.^[3]

In October 2014, Diplomat Pharmacy launched an initial public offering (IPO) on the New York Stock Exchange after raising $173 million.^[4] Diplomat is the only publicly traded independent specialty pharmacy in the United States.^[5] Diplomat currently ranks 29th in the state of Michigan on the list of the top publicly traded companies based on revenues.^[6]

Services

Diplomat distributes oncology medications in a CarePak™, specially designed to improve patient adherence.^[7] Diplomat also serves as the specialty pharmacy for many retail pharmacies, hospitals and health systems throughout the United States.^[8]

Diplomat is accredited by several third-party agencies, including URAC, the American Society of Health-System Pharmacists, and the Accreditation Commission for Health Care.^[9]

For hemophilia and other blood disorder patients, they offer in-home and outpatient specialty infusion services.^[10]

History

Dale Hagerman founded Diplomat Pharmacy in 1975 in Flint, Michigan. For over 40 years, Diplomat has been working with patients living with chronic diseases.^[11] In 2009, Diplomat moved its headquarters back to Flint from Swartz Creek, Michigan. In 2014, Diplomat ranked 69th on the Inner City 100 list of fastest growing companies based in inner cities.

In July 2014, Diplomat acquired MedPro Rx, a specialty pharmacy based in North Carolina.^[12]

In February 2015, Diplomat acquired BioRx, a specialty pharmacy in Cincinnati, Ohio for $315 million. According to documents filed with the Securities and Exchange Commission, the purchase "added significant scale to [Diplomat's] specialty infusion services.^[13]

In June 2015, Diplomat acquired Philadelphia-based Burman’s Specialty Pharmacy for $73 million, growing their geographic presence.^[14]

References