Apothecary by Design, a portfolio company of BelHealth Investment Partners, said July 20 it named Richard Friedman its Executive Chairman. Friedman is the former Chairman of Aureus Healthcare Services, a past BelHealth portfolio company.
Portland, ME – July 20, 2016 – Apothecary by Design (ABD), a leading distributor of specialty
pharmaceuticals and a BelHealth Investment Partners LLC (“BelHealth”) portfolio company, announced
the appointment of Richard Friedman as Executive Chairman. ABD is executing its strategic plan to
become a leading, national, Women’s Health specialty pharmacy.
Mr. Friedman is a BelHealth Operating Partner and former Chairman of Aureus Healthcare Services, a past
BelHealth portfolio company. Mr. Friedman has more than 30 years of experience in the healthcare industry
with a focus in specialty pharmacy, generic pharmaceuticals, pharmacy benefit management (PBM) and
infusion. Prior to Aureus, Mr. Friedman 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.
Mr. Friedman was Chairman and CEO of MIM Corporation (NASDAQ: MIMS), the predecessor to
BioScrip and 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 acquisition of Chronimed in 2004,
which created BioScrip. Earlier, Mr. Friedman was a pioneer in the generic drug marketplace at companies
including Zenith Laboratories Inc., a leading manufacturer and distributor of generic drugs, and Goldline
Mark McAuliffe, CEO of ABD, stated, “We are thrilled to have Rich join our team as Executive Chairman.
His prior successes and substantial experience in the specialty pharmacy industry will be invaluable to
ABD. We are well on our way to executing our strategic growth plan and Rich expanding his role from
Board member to Executive Chairman will accelerate our timeline to achieve this plan.”
Harold S. Blue, BelHealth Founder and Managing Partner said, “We are pleased Rich has agreed to become
Executive Chairman of ABD. He will be instrumental in building and mentoring the Executive team and
driving business development, which will lead to significant growth. Rich’s substantial specialty pharmacy
expertise will help greatly in replicating our past successes.”
About Apothecary by Design
Headquartered in Portland, Maine, Apothecary by Design is a specialty pharmacy focused on Women’s
Health, Infectious Diseases and Autoimmune Disorders. ABD services fertility and other specialty patients
nationally from distribution hubs in Portland, Maine and Warrenville, Illinois. Apothecary by Design offers
compassionate care to thousands of patients as well as clinical services and support to prescribers, payors