Diplomat Partners With Labor Value Rx to Support Specialty Members
The nation's largest independent specialty pharmacy signed an agreement with Labor Value Rx to support members of Pipe Trade Services of Minnesota.
FLINT, Mich., July 27, 2017 /PRNewswire/ -- Diplomat Pharmacy, Inc. (NYSE: DPLO), has been selected to provide specialty pharmacy services for Labor Value Rx's Pipe Trade Services of MN (PTSMN) members.
Diplomat will be the exclusive specialty pharmacy for PTSMN—dispensing specialty medication for their members.
Labor Value Rx, based in White Bear Lake, Minnesota, is a national, full-service pharmacy benefit management company specializing in customized prescription solutions for plan participants.
"Due to the complex nature and administration of specialty prescriptions, the need for a specialty pharmacy partner is greater than ever," said Tony Hynes, vice president at Labor Value Rx. "PTSMN is proud to partner with Diplomat. Diplomat has truly been a trusted partner, providing high-touch, individualized specialty pharmacy services to our members. We are pleased to partner with such a leader in the space, and it's nice to know our members are receiving the dedicated service they deserve."
PTSMN operates as a nonprofit corporation that provides administrative services to various pension and welfare trusts in the piping industry. Labor Value Rx is a "trust directed PBM" and together they share a commitment to improving utilization and adherence to prescription medication.
"We are proud to extend our services through our partnership with Labor Value Rx," said Atheer Kaddis, executive vice president of sales and strategic alignment at Diplomat. "Partnering with Labor Value Rx means more patients will have access to highly skilled teams of specialists who understand specialty patients' individualized needs. As part of Labor Value Rx's network, we will use our expertise and resources to provide support services to each members' unique needs."
To learn more about Diplomat, visit diplomat.is.
Forward-Looking Statements
This press release contains forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements give current expectations or forecasts of future events or our future financial or operating performance. The forward-looking statements contained in this press release are based on management's good-faith belief and reasonable judgment based on current information. These statements are qualified by important risks and uncertainties, many of which are beyond our control, that could cause our actual results to differ materially from those forecasted or indicated by such forward-looking statements. For a discussion of such risks and uncertainties, you should review Diplomat's filings with the Securities and Exchange Commission, including "Risk Factors" in Diplomat's Annual Report on Form 10-K for the year ended Dec. 31, 2016, and in subsequent reports filed with or furnished to the Securities and Exchange Commission. Except as may be required by any applicable laws, Diplomat assumes no obligation to publicly update such forward-looking statements, which are made as of the date hereof or the earlier date specified herein, whether as a result of new information, future developments or otherwise.
About Diplomat
Diplomat (NYSE: DPLO) is the nation's largest independent provider of specialty pharmacy services—helping patients and providers in all 50 states. The company offers medication management programs for people with complex chronic diseases and delivers unique solutions for manufacturers, hospitals, payors, providers, and more. Diplomat opened its doors in 1975 as a neighborhood pharmacy with one essential tenet: "Take good care of patients and the rest falls into place." Today, that tradition continues—always focused on improving patient care and clinical adherence. For more information, visit diplomat.is.
About Labor Value Rx
Labor Value Rx (LVRx) is a national, full service Pharmacy Benefit Manager (PBM) tailored specifically to Taft-Hartley Welfare Funds. It has provided PBM services to the Pipe Trades Services of MN since 2013. LVRx is a PBM solution designed to bring true transparency and control to the boards of trustees responsible for overseeing these vitally important welfare funds. It operates independently with no ownership ties to pharmacies, insurance companies, or drug manufacturers. LVRx works collaboratively with its Labor clients to design a pharmacy benefit that not only controls costs, but provides better outcomes for their members.
CONTACT:
Kali Lucas, Public Relations Specialist
810.768.9580 | [email protected]
Atheer Kaddis, Executive Vice President,
Sales and Strategic Alignment
810.768.9519 | [email protected]
SOURCE Diplomat Pharmacy, Inc.
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