Danam Health, Inc. Announces Acquisition of Wellgistics, LLC
Tampa, FL, Sept. 10, 2024 (GLOBE NEWSWIRE) — Danam Health, Inc. (“Danam”) today announced that it completed its acquisition of Wellgistics, LLC (“Wellgistics”).
Acquisition of Wellgistics, LLC
Danam Health is excited to announce that today it has completed its definitive acquisition of Wellgistics, LLC. Wellgistics is a 50-state FDA licensed and NABP-accredited pharmaceutical wholesaler distributor, bridging the gap between small to mid-size pharmaceutical manufacturers and independent retail pharmacies. This acquisition formally brings Wellgistics into the Danam Health portfolio of solutions which includes the June 17, 2024, acquisition of Wood Sage, LLC (“Wood Sage”). Wellgistics is core to Danam’s business model and the synergistic value will drive competitive differentiation.
Wellgistics CEO, Brian Norton remarked, “For the past eight years, Wellgistics has been dedicated to serving the independent retail pharmacy market with unwavering commitment to excellence in product procurement and delivery. The Danam combination positions us to expand our focus, integrating into more comprehensive market access and channel strategies. The pharmaceutical industry is on the cusp of significant change, and we believe there is a smarter, more efficient way forward—one that challenges the status quo. I am excited to be part of this transformative journey and look forward to contributing to a brighter, more dynamic future.”
Wellgistics provides distribution and 3PL services to over 60 pharmaceutical manufacturers and over 4,000 independent retail pharmacies nationwide. Differentiated value is driven through niche therapeutic products and collaboration with manufacturing clients to increase market access and visibility. Specifically, Wellgistics services include sales and marketing support, product education, identifying opportunities for therapeutic substitution when clinically relevant, and cost savings for pharmacies and their patients. Recent Wellgistics investments in cold chain infrastructure will enhance Danam’s ability to compete in the specialty-lite therapy category while also expanding the capability to house additional branded products. Wellgistics will serve as the wholesale arm of Danam’s healthcare ecosystem.
Danam Health CEO, Tim Canning, commented, “Combined with the Wood Sage acquisition that welcomed the DelivMeds Tech & Hub platform, and Community Specialty Pharmacy, LLC to the Danam portfolio, Wellgistics completes the vision to provide a seamless prescription ecosystem through an integrated technology platform, fulfillment network, and now wholesale distribution, with a focus on specialty-lite medications.”
About Danam Health, Inc.
Founded in 2022, Danam Health, Inc. is a holding company for several strategic businesses centered around pharmaceuticals and healthcare services. As a micro health ecosystem, Danam’s portfolio of companies consists of a pharmacy and a technology division with a novel platform for hub and clinical services. Danam is focused on improving the lives of patients while delivering unique solutions for pharmacies, providers, pharmaceutical manufacturers, and payors. With the successful integration of its patient-centric approach and innovative healthcare applications, Danam intends to shift the dynamic of care to revolve around the patient for a wide range of therapeutic conditions.
Forward-Looking Statements
This press release includes certain statements that may be deemed to be “forward-looking statements” within the meaning of the federal securities laws. Statements regarding the acquisition, any potential disputes, and related matters, as well as all other statements other than statements of historical fact included in this press release, are forward-looking statements. In some cases, you can identify forward-looking statements by words such as: “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “would” and similar expressions, or the negative of these terms or other similar expressions, but the absence of these words does not mean that a statement is not forward-looking. Such forward-looking statements are based on the beliefs of management, as well as assumptions made by, and information currently available to, Danam management. Actual results could differ materially from those contemplated by the forward-looking statements. Accordingly, readers should not place undue reliance on any forward-looking statements. All subsequent written or oral forward-looking statements attributable to Danam or persons acting on its behalf are qualified in their entirety by this paragraph. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of Danam. Forward-looking statements speak only as of the date they are made. Danam undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise that occur after that date, except as otherwise provided by law.
Corporate Contact:
Danam Health Communications
Phone: 844-203-6092
Email: investorrelations@danamhealth.com
