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Diplomat Gets New Line Of Credit

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Diplomat Specialty Pharmacy's headquarters in Flint

Diplomat Specialty Pharmacy’s headquarters in Flint

(credit: istock) Technology Report
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FLINT — Diplomat Specialty Pharmacy, the nation’s largest, privately owned specialty pharmacy announced that it has entered into a five-year, $60 million revolving line of credit and commercial banking relationship with GE Capital, JP Morgan Chase and Comerica.

This new line of credit replaces Diplomat’s prior credit facility of $30 million.

“This new expanded line of credit is a significant milestone for Diplomat and provides us with additional access to capital to support our strategic growth initiatives,” said Phil Hagerman, Diplomat’s CEO.

Michigan-based Diplomat Specialty Pharmacy, founded in 1975, serves patients nationwide as the country’s largest privately held Specialty Pharmacy and focuses on complete medication management programs for patients with serious and chronic conditions.

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.

More at www.diplomatpharmacy.com.

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