CEO Phil Hagerman, R.Ph., announced today that Diplomat Specialty Pharmacy, the country’s largest independent specialty pharmacy servicing the needs of patients and physicians nationwide, has earned a position for the fifth consecutive year on Inc. Magazine’s seventh annual Inc. 500|5000, an exclusive ranking of the nation's fastest-growing private companies. The Company ranked third in the nation in the list’s health category for revenue, a jump from fourth in 2012, and its three year growth rate was pegged at 199 percent from $377.5 million in 2009 to $1.1 billion in 2012.
“Recognition on the Inc. 5000 list continues to be an important metric in gauging our overall growth,” said Hagerman, who co-founded Diplomat Specialty Pharmacy with his pharmacist father Dale Hagerman immediately following graduation from pharmacy school in 1975. “What is especially meaningful to the Diplomat team is we continue to grow the business and forge relationships with new health care industry partners while achieving sustained customer and physician satisfaction rates above 98 percent.”
With almost 500 jobs created between 2009 and 2012, Diplomat was cited by Inc. magazine in December 2012 as one of nation’s top 100 job creators. Looking forward, Hagerman foresees additional business and job growth.
“Diplomat remains on track to add a total of 1,000 new jobs between 2010 and 2015. We’ll need that increased capacity as projected specialty pharmacy purchases are projected to be 50 percent of the total drug spend by 2018,” said Hagerman.
Hagerman noted that even more important than job growth is Diplomat’s unwavering attention to patient care and its clinical mission to improve patient compliance and adherence as drug therapies grow more complex and costly, and often bring challenging side effects.
“The key to optimal patient compliance and adherence lies with patient education and training, packaging that keeps drugs safe and secure yet is easy for patients to open, side effect management kits, nurse adherence calls for clinical support and guidance, and adaptive technology, whether that be through smart phones, prescription bottles with glow caps or packaging with alarms and reminders,” said Hagerman. “Diplomat is a leader in these areas and we will continue to focus efforts on new approaches to compliance and adherence through our high-tech, high-touch patient strategy.”
Complete results of the Inc. 5000, including company profiles and an interactive database that can be sorted by industry, region and other criteria, can be found at inc.com/5000.
"Not all the companies in the Inc. 500 | 5000 are in glamorous industries, but in their fields they are as famous as household name companies simply by virtue of being great at what they do. They are the hidden champions of job growth and innovation, the real muscle of the American economy,” said Inc. Editor Eric Schurenberg.
About the Inc. 500/5000 Methodology
The 2013 Inc. 500|5000 is ranked according to percentage revenue growth when comparing 2009 to 2012. To qualify, companies must have been founded and generating revenue by March 31, 2009. They had to be U.S.-based, privately held, for profit, and independent not subsidiaries or divisions of other companies as of December 31, 2012. (Since then, a number of companies on the list have gone public or been acquired.) The minimum revenue required for 2009 is $100,000; the minimum for 2012 is $2 million. As always, Inc. reserves the right to decline applicants for subjective reasons. Companies on the Inc. 500 are featured in Inc.’s September issue. They represent the top tier of the Inc. 5000, which can be found at inc.com/500.
About Diplomat Specialty Pharmacy
Michigan-based Diplomat Specialty Pharmacy (diplomatpharmacy.com), founded in 1975, serves patients nationwide as the country’s largest independent specialty pharmacy and focuses on complete medication management programs for patients with serious and chronic conditions. Key programs include: Oncology, HIV/AIDS, Hepatitis C, Multiple Sclerosis, Rheumatoid Arthritis, Crohn’s, Hemophilia/IVIG, Growth Hormone and Psoriasis. Other specialty areas include transplant, fertility and bio-identical hormone therapy. Diplomat’s business model creates unique partnerships around both distribution and services with all industry stakeholders including physicians, patients, group purchasing organizations, hospital systems, retail chains and managed markets, always focused on improving adherence and the patient experience. Learn more about Keeping Patients Healthier…Longer