Wholesaler H.D. Smith celebrates 60 years
SPRINGFIELD, Ill. — H.D. Smith celebrates 60 years of business in 2014, the wholesaler announced Monday.
The company was founded in 1954 to meet the needs of an underserved region in Central Illinois. Before H. D. Smith opened its doors, pharmacies in the area purchased their pharmaceuticals and supplies through large distributors out of St. Louis, Chicago, Champaign and Peoria, the company stated.
“I have been proud to watch this company grow. We began with one building, myself and two additional employees who worked together to make sales, pick, pack and ship orders and take care of the day-to-day business," stated Dale Smith, H.D. Smith chairman and CEO. "In those early years, we did not have a fleet of trucks to help us deliver orders. Instead, we partnered with the local paper, The State Register at the time, who delivered pharmacy orders along with the afternoon paper,” he said. “At each fork in the road, we turned challenge into opportunity. Where independent pharmacies once struggled to order products on a schedule that fit their demand, we made sure to meet their needs. We continue that tradition today as we grow beyond the wholesale pick, pack and ship business.”
Over the decades, the healthcare industry has changed and the company has evolved to respond to those changes. “We are partnering with our customers and our vendors in new ways that allow us to serve larger markets and more specialized needs. We have become much more than a wholesaler,” added Chris Smith, H. D. Smith president and COO, “I am thankful for the hard work each and every associate has contributed throughout our company’s history. Those efforts have allowed H. D. Smith to become the success it is today. The first 60 years of H. D. Smith’s history have given us a strong foundation. But I believe that the best is yet to come.”
Analyst take: McKesson may make second attempt at Celesio
NASHVILLE, Tenn. — McKesson may take another bite of the Celesio apple, suggested Sterne Agee analyst Greg Bolan in a note published Monday.
"At the JP Morgan healthcare conference, CEO John Hammergren made it clear that they will not overpay for assets and that 23.5 euros was the limit for Celesio," Bolan noted. "Now that the Celesio tender offer has officially expired, McKesson would need to create a new tender offer. We think the company has come this far and would think they re-engage Celesio shareholders to inquire whether 75% of shares will be tendered at 23.5 euros."
If McKesson did make a second go of it, Celesio shareholders may approve the deal this time. "With Celesio shares currently trading 11% below the deal price, we would think any dissenting shareholders may be swayed due to the certainty of a tender offer, assuming of course that McKesson decides to resubmit an offer," Bolan wrote. "With all of the work McKesson has committed to this deal, we would have to think the company makes one more attempt for Celesio."
Former Barnes & Noble exec to lead Sam’s Club e-commerce site
NEW YORK — Former Barnes & Noble executive Jamie Iannone has been appointed president and CEO of Samsclub.com in a restructuring that integrates Sam’s Club’s online business into the Walmart’s Global eCommerce business unit based in California. Previously, most of the warehouse club’s online business was run separately out of the retailer’s headquarters in Bentonville, Ark.
Iannone previously served as president of digital products at Barnes & Noble and oversaw the book seller’s Nook Media unit. He left the bookseller at the end of 2013.
His appointment was announced in a joint statement distributed internally at Walmart by Sam’s Club president and CEO Rosalind Brewer and Walmart Global eCommerce president and CEO Neil Ashe.