Specialty pharmacy Town Total, has appointed BelHealth operating partners Richard Friedman and Richard Wolpow to the company’s board of directors, effective immediately. The other board members include Harold S. Blue, managing partner of BelHealth, and John Navarra, founder and vice chairman of Town Total.
Town Total, a specialty pharmacy focused on dispensing prescription specialty drugs to treat various chronic diseases and complex medical conditions including HIV, Hepatitis C and transplant maintenance therapy, announced today that BelHealth operating partners Richard Friedman and Richard Wolpow have joined the company’s Board of Directors, effective immediately. The other board members include Harold S. Blue, Managing Partner of BelHealth, and John Navarra, founder and Vice Chairman of Town Total.
Mr. Friedman has 27 years of experience in the healthcare industry with a focus in specialty pharmacy, generic pharmaceuticals, pharmacy benefit management (PBM) and infusion. Most recently, he served as Chairman and CEO of BioScrip Inc., a publicly traded specialty pharmacy and PBM (NASDAQ: BIOS). During his tenure at BioScrip Inc., he was instrumental in growing the company into a $1.7 billion business and positioning it for the eventual sale of its specialty pharmacy operations to Walgreens in May 2012. Prior to his term at BioScrip, he was Chairman and CEO of MIM Corporation (NASDAQ: MIMS), a specialty pharmaceutical and benefit fulfillment organization that collaborates with healthcare providers and sponsors to control prescription drug costs. Mr. Friedman took MIM public in 1996 and oversaw a number of mergers and acquisitions, including its combination with Chronimed in 2004, which created BioScrip. Earlier, Mr. Friedman was an early entrepreneur in generic drug manufacturing and distribution at companies including Zenith Laboratories Inc., a leading manufacturer and distributor of generic drugs, and Goldline Laboratories.
Mr. Wolpow has been advising and operating small to mid-size private and public companies for 20
years. He was founder, CEO and Chairman of Dispensing Solutions Inc. (DSI), a pharmaceutical
manufacturer, operating a state-of-the-art repackaging facility in Santa Ana, California, which was sold
in 2011 to PSS World Medical (NASDAQ: PSSI). McKesson Corporation (NYSE:MCK) recently
acquired PSS. He founded and currently is Vice Chairman of POC Network Technologies, a medical
technology company, which was a spin off from DSI. Mr. Wolpow was a principal with Freedom
Health, Inc., a developer of an intelligent debit health card in association with Buck Consultants,
Mellon Bank and MasterCard. His first health related company started in 1995 when he was recruited
to run TheHealthChannel.com. Other entrepreneurial successes include ventures in the Internet, resort
ownership, construction and apparel industries.
Dennis Drislane, Chairman of BelHealth’s operating committee, commented, “I am pleased to welcome Richard Friedman and Richard Wolpow to Town Total. Their exceptional business and specialty pharmacy expertise will be a tremendous asset to the board and the company. We are lucky to have Richard Friedman as Chairman. Not only does Richard have a deep knowledge of specialty pharmacy, he also brings a wealth of strategic and operational experience leading fast-growth companies in this sector.” Mr. Drislane added, “Richard Wolpow and I have worked closely for several years at Dispensing Solutions and POC Network Technologies, and recently in his role as a member of BelHealth’s operating committee. His background in pharmaceutical products distribution is a great fit for Town Total making Richard an excellent resource for the company.”
Michael A. Nameth, CEO of Town Total said, “I am excited by the Board we have assembled. Town Total will benefit from their experience working with growth companies. Richard Friedman’s leadership as Chairman will be invaluable as we expand Town Total into new directions while continuing to focus on a managed medication approach that would increase patient understanding and adherence, enhance clinical support and improve clinical outcomes.”
“I’m very pleased to join Town Total as Chairman,” said Mr. Friedman. “I am looking forward to returning to this industry in which I have been involved for over two decades. I have also known Harold Blue, Mike Nameth and Richard Wolpow for several years and worked closely with them over the past 4 months developing our specialty pharmacy platform and expansion strategy. Town Total is in the center of a rapidly growing market and I am excited to work alongside the team and help drive the Company’s success.
About Town Total
Serving areas within metro New York for nearly twenty five years, Town Total is a specialty pharmacy serving the prescription needs of patients with HIV, Hepatitis C and other chronic diseases. Driven by a goal for quality care, Town Total has evolved to meet the needs of patients, caregivers and prescribers in its community. Town Total’s model focuses on account management with each clinic, physician office or prescriber with whom they partner. This dedicated service enables each of its accounts to benefit from clear communication, a smooth process and strong relationships. Town Total truly partners with its prescribers to ensure each patient receives optimal care. The company is headquartered in Melville, NY.
About BelHealth Investment Partners
BelHealth Investment Partners, based in New York, is a healthcare private equity firm focused on lower middle market companies. BelHealth acquires majority positions in entrepreneur-owned companies we believe would benefit from our vast operating and private equity experience. The firm typically invests $10-25 million per platform company across three healthcare segments: Services, Information Technology and Products & Distribution. Applying an active, hands-on approach, BelHealth utilizes its experience to support management, drive revenue and profit growth and achieve superior returns for its investors and partners.
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