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Physicians Pharmacy Alliance Acquired By The Riverside Group
Physicians Pharmacy Alliance, a Cary, North Carolina based specialty pharmacy, announced today it has been acquired by The Riverside Company, a global private equity firm with 19 offices across North America, Europe, and the Asia Pacific. Riverside focuses on acquisitions valued at up to $200 million with strong management teams and outstanding organic growth potential.
Founded in 2002 by James V. Taggart, Physicians Pharmacy Alliance (PPA) works with physicians and other healthcare providers to provide high-touch drug dispensing services to patients with complex prescription drug requirements. Taggart led PPA to four consecutive years of unprecedented growth and expansion of services to patients. “I believe PPA’s growth is a product of employing innovative technologies to our mission of serving patients with the greatest need,” stated Taggart. “We’ve never lost sight of our critical importance to our patients and their healthcare providers.”
PPA currently serves over 6000 patients in the Carolinas and employs over 100 people. PPA has received the Triangle Business Journal Top Ten Fast 50 award recognizing the area’s fastest growing private companies for four consecutive years.
Based on the novel “pharmacy home” model, healthcare providers are recognizing the value of PPA’s medication management services that improve a patient’s quality of life, ability to remain at home, overall health and need for hospitalization, thus reducing the pressure on the overall health system. Recognizing the strategic value of this equation, Riverside firmly believes in the opportunity for continued high growth. Nancy Dunn, PPA’s Chief Operations Officer, said “Riverside’s investment will allow us to accelerate PPA’s growth to new markets.”
Shattuck Hammond (a division of Morgan Keegan) worked with PPA’s management team as financial advisors for the acquisition. Legal firm Hunton and Williams provided legal advice and services for PPA.
Physicians Pharmacy Alliance Honored as #8 Fastest Growing Company in the Triangle Physicians Pharmacy Alliance, a private specialty pharmacy serving patients in North and South Carolina, was recognized tonight at the Triangle Business Journal's Fast 50 Awards as the #8 fastest growing company in the Triangle area. The award was accepted by CEO and Company Founder, Jim Taggart, and marks the fourth year Physicians Pharmacy Alliance (PPA) has been recognized in the prestigious Top 10.
"This achievement is more than just a reflection of our continued growth into new territories.," said Taggart. "It is a reflection of our commitment to our mission to provide the best possible pharmacy services to our patients. Their needs go beyond what the state of the economy is, and we are privileged to serve these patients with the same dedication and high-quality we founded this company upon."
PPA Founder and CEO Wins Health Care Hero Award
James V. “Jim” Taggart, founder and CEO of Cary-based Physicians Pharmacy Alliance, received a 2010 Triangle Business Journal Health Care Hero Award at North Ridge Country Club in Raleigh last night. Awarded to individuals or organizations for “putting innovation and compassion to work to improve the human condition,” Taggart is the only pharmacy winner recognized and one of only five winners not associated with an area hospital or health system.
Now in its 8th year, recipients of the Health Care Hero Award are selected from nominations within the community. Taggart’s award recognizes his compassion for others by providing superior pharmacy services to those least able to afford it. “It is my hope that this award will encourage you to explore the compassion and generosity that is quietly being delivered each day to those who are often forgotten,” Taggart said after receiving the award. To read the full press release in PDF version, Click Here.
PPA Goes Green at New Headquarters
Preparing to move its corporate headquarters next month, Cary-based Physicians Pharmacy Alliance reaffirmed its commitment to making environmentally responsible choices by announcing that it will furnish its new office space using high-quality, previously owned furniture that would otherwise be destined for the landfill. To read the full press release, Click Here.
PPA Named As Region 7 Top Pharmacy by Outcomes
Continuing its commitment to better patient care, Outcomes, the nation's leading medication therapy management provider, recognized Physicians Pharmacy Alliance as the Region 7 Top Independent Pharmacy of the Year. To read the full press release, Click Here.
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