Industry Leaders Southern Pharmacy Services and Guardian Pharmacy, LLC Partner in Acquisition
Wytheville, Va. – December 7, 2012
Industry veteran Dennis Counts, founder of leading long-term care pharmacy Horizon Healthcare Management, Inc. (HHM), is pleased to announce that he is handing the keys to the next generation with the sale of his business to long time family friends, Chad and Marybeth Terry.
The Terrys are the founders of Southern Pharmacy Services (SPS), one of the largest long-term care pharmacy companies in North Carolina with locations in Kernersville and Pink Hill. HHM, located in Wytheville, Virginia, is a leading long-term care pharmacy serving southwest Virginia and the surrounding areas. Both pharmacy groups serve residents of long-term care and group homes including assisted living, skilled nursing and Hospice communities.
According to Dennis, “I have known Marybeth Terry for 20 years, so I am familiar with her dedication and work ethic. I was seeking the right partner to best serve my customers and employees, and Southern Pharmacy Services’ reputation for superior customer care, cutting-edge technology, innovation and operational excellence makes this the perfect fit.”
Within the industry, Southern Pharmacy Services has a reputation for superior customer service and rapid response to client requests. SPS builds strong relationships with clients by providing continuing education classes, consultation services and facility resources ensuring they are at the forefront of the industry
“We are thrilled to welcome the customers and expert staff from Horizon Healthcare into the SPS family. Horizon’s core values of teamwork, honesty and exceptional customer attention are completely aligned with ours, and we look forward to expanding our efforts in the Virginia market,” said Marybeth Terry, Southern Pharmacy Services co-founder.
Horizon Healthcare Management will continue to operate as an independent pharmacy with local decision making under the leadership of head pharmacist Renae Cregger, who has been promoted to director of operations. Dennis will continue his involvement assisting Renae, longtime co-worker and friend, to ensure a seamless transition.
Southern Pharmacy Services partnered with Guardian Pharmacy, LLC, one of the largest long-term care pharmacy companies in the nation, in this acquisition.
“As a member of the Guardian Pharmacy network, we have experience with this talented team and are confident that our combined expertise will be a great addition to the long-term care industry in southwest Virginia.” said Chad Terry, SPS co-founder.
Noted for its industry-unique business model, Guardian offers independent long-term care pharmacies the benefits of a large company while maintaining local ownership and operations.
“In this partnership, our corporate support team will assist with the day-to-day business operations from payroll to rebate management, and the intensely complex revenue cycle,” said Kendall Forbes, co-founder of Guardian Pharmacy. “This will allow SPS and Horizon to focus on ensuring that the communities and residents they serve receive the best care possible.”
The combined Guardian entity now serves more than 42,000 long-term care patients nationally through 22 pharmacies across 12 states.
About Southern Pharmacy Services
Southern Pharmacy Services is a full service long-term care pharmacy with locations in Kernersville and Pink Hill, North Carolina. Servicing the entire state, SPS prides itself in its old-fashioned values and innovative ideas. SPS’ commitment to its core values of customer service, teamwork and honesty ensure its quality service. www.southrx.com.
Guardian Pharmacy, LLC, headquartered in Atlanta, Ga., is one of the nation’s largest institutional pharmacy companies. Guardian’s pharmacies focus on providing outstanding client service to long-term care facilities including assisted living, skilled nursing, and others. Founded in 2004, Guardian has experienced a 46 percent compounded annual growth rate which the company attributes to its unique Local-Autonomy business model. Pharmacy operators participate in local ownership and benefit from Guardian’s experience in high-growth, specialty pharmacies. www.guardianpharmacy.com.