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2004 2003200220012000 |
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CPS Announces Five-Year Contract
With Bergen Brunswig Drug Company Memphis, TN (February 23, 2001) -– Comprehensive Pharmacy Services, Inc. (CPS), the nation’s largest independently owned pharmacy outsource services provider, has announced a five-year prime vendor agreement with Bergen Brunswig Drug Company (BBDC), a subsidiary of Bergen Brunswig Corporation (NYSE:BBC). Bergen Brunswig will provide pharmaceuticals and related services to the acute care, psychiatric and correctional systems pharmacy customers of CPS. This agreement, effective February 1, 2001, is expected to generate incremental revenue of more than $400 million for Bergen Brunswig over the life of the contract. According to CPS President, Louis P. Bradley, Jr., the agreement reflects CPS’ confidence in Bergen’s core competencies and long history of service excellence. Bradley states, “Ultimately, we were compelled by Bergen’s strategic orientation and demonstrated capabilities that go well beyond service excellence. This new relationship creates powerful possibilities for both organizations.” “We are very proud to announce this new relationship with CPS, a respected partner whose key strategies for growth are closely aligned with our own,” said Doug Swanson, President, BBDC Health Systems. “We have a unique opportunity to expand each other’s offering and market reach and generate incremental earnings beyond the base distribution value.” Don Clarfeld, Executive Vice President, BBDC Health Systems, added, “We expect to leverage the synergies within our clinical and pharmacy business solutions areas to provide consulting programs and improved service to CPS’s growing customer base. This agreement adds to our portfolio and further differentiates each company’s competitive offering to the marketplace.” Comprehensive Pharmacy Services, Inc. provides expert pharmacy outsourcing and management services to more than 100 acute care, specialty and correctional facilities nationwide. Information is available on the company’s website at www.cpspharm.com. Bergen Brunswig Corporation, headquartered in Orange County, California, is a leading supplier of pharmaceutical and specialty healthcare products as well as information management solutions and consulting services. Bergen’s customers include the nation’s healthcare providers (hospitals, nursing homes and physicians) drug stores, manufacturers and patients. Through its subsidiaries, Bergen provides product distribution; logistics; pharmacy management programs; and Internet fulfillment strategies designed to reduce costs and improve patient outcomes across the entire healthcare spectrum. Bergen Brunswig press releases are available on the company’s website at www.bergenbrunswig.com. Contact: Don Nickleson Executive Vice President CPS Inc. 901-748-0470 Mike Treadway Chief Financial Officer CPS Inc. 901-748-0470 |
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