Membership Votes In Favor of Combining Two of the Nation’s Most Successful Independent Pharmacy Cooperatives
API and United Drugs pharmacies come together to create a stronger, more versatile, and committed organization to compete in today's business environment.
Phoenix, Ariz. (Vocus/PRWEB ) June 10, 2009 -- As of Friday, June 5, 2009, Associated Pharmacies, Inc. (API) of Scottsboro, AL completed their member voting process with a virtually unanimous vote in favor of a merger with United Drugs of Phoenix, AZ. United Drugs members overwhelmingly voted “YES” in favor of the merger on April 17, 2009.
“We have a ringing endorsement by both corporate boards and both memberships, providing just one indication that we’re making the right move in creating a truly independent force in retail pharmacy,” said Jon Copeland, CEO of API. “Because we both have very successful operations... nothing at all changes for our respective members, except they will all have a broader range of opportunities.”
Several industry observers have suggested that this is one of the strongest mergers in independent pharmacy history. To ensure a smooth transition and continued success, both companies will remain as separate operating entities owned by the newly combined memberships. The search for a “doing business as” (dba) name is currently underway and has yet to be determined. Expected to close on July 1, API and United Drugs will become wholly-owned subsidiaries of American Associated Pharmacies (AAP), a cooperative incorporated in the state of Minnesota representing approximately 2,000 independent pharmacies.
“API is recognized for its member-owned warehouse and United Drugs is well-known for its Managed Care program, so there’s a lot of compatibility with regard to our corporate cultures,” added Bruce A. Semingson, CEO of United Drugs.
Executives from both API and United Drugs are initiating a series of member educational meetings in late July, starting with a “United-API University” held in Washington D.C. In-depth discussions and details will be revealed as to the future plans about the corporate structure, merger combination timeline, and enhanced pharmacy offerings.
About Associated Pharmacies, Inc. (API):
Founded in 1987, Associated Pharmacies, Incorporated (API), is a member-owned buying cooperative that provides independent pharmacy owners an opportunity to buy like a chain. API members take advantage of savings on brand, generic, and OTC products at discounted, volume prices. As a unified voice in an ever-changing environment, API designs and implements programs to give its pharmacies the tools needed to run a successful business.
About United Drugs:
United Drugs is a premier pharmacy cooperative that provides industry leadership, operating expertise, third party contracting and buying services to independently-owned pharmacies throughout the nation. United Drugs has over 1,000 pharmacy members and is growing. For over 30 years, United Drugs has been helping independent pharmacies not only compete but also thrive in a dynamic, challenging marketplace.
For interview requests, please call 602-678-1179 x225.
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