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AmerisourceBergen eyes $815 million buyout of H.D. Smith

Eric Broughton

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It was announced today by AmerisourceBergen, that it will acquire H.D. Smith, an independent drug wholesaler with headquarters in Springfield, for $815 million in cash. It would further consolidate the drug distribution industry, as AmerisourceBergen, McKesson and Cardinal Health control about 85% of the market.

AmerisourceBergen, which plans to fund the deal through long-term debt issuance, expects the transaction to slightly add to its adjusted earnings per share in the current fiscal year.

“The acquisition of H. D. Smith – a best-in-class private distributor with facilities across the country and a diversified customer base – strengthens our core business and expands and enhances our strategic scale in U.S. pharmaceutical distribution,” said Steven H. Collis, Chairman, President and Chief Executive Officer of AmerisourceBergen.

The drug distributor now expects revenue growth to be in the range of 8 percent to 11 percent in fiscal 2018, compared with its previous forecast of 7 percent to 9 percent.

The company expects the deal to close by early 2018.

“Our ultimate priority and commitment has been, and continues to be, the needs of our customers and trading partners,” said Dale Smith, Chairman and CEO, H. D. Smith Holding Company. “Working toward a common goal, H. D. Smith associates have been committed to providing the best customer experience with a focus on honesty and integrity. We remain proud of our contributions to improve healthcare across the country, and we are honored to have supported the success of community healthcare providers and our manufacturer partners. We believe AmerisourceBergen will continue the strong foundation set by my father. In joining AmerisourceBergen, we are confident our mission will continue, and remain a point of pride for the H. D. Smith family and its enduring legacy.”

AmerisourceBergen has not made any official announcement regarding the H.D. Smith headquarters, but the acquisition news leads one to believe there will be changes coming to the Springfield corporate headquarters property, which is owned by the company.

Future FTC Deal Scrutiny

The Federal Trade Commission might scrutinize the deal closely, considering H.D. Smith is the second-largest drug wholesaler outside of the big three. AmerisourceBergen has struggled to hold a profit due to declining generic drug prices, and several cities and municipalities have accused the company and others of making the opioid epidemic worse by not properly monitoring where painkillers were going.

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CEO & Co-Founder of Springfield Daily. Former financial analyst and project manager, turned online entrepreneur. Eric also owns Interactive Media, a digital marketing and consulting firm located in Downtown Springfield as well as the fitness startup FitTube. Eric received his Masters in Business Administration from Benedictine University, prior to that played college football at Quincy University, and is a Springfield High alumni.

Announcements

City branch pickup starts tomorrow in the Northwest Quadrant

Staff Contributor

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Springfield’s spring branch pickup program starts Monday, April 8th. Each quadrant of the city will have two pickup dates, one in April and one in May. Crews will only visit each quadrant once per month. The first pickup will be in the Northwest Quadrant.

Size of Branch Piles

Branches must meet the following standards to be picked up:

  • No larger than 3 foot in height, 4 foot in depth, and 10 feet in length;
  • Piles larger than a small pickup load will not be picked up by the city;
  • The program is for branches only, no logs will be accepted
  • Branches/limbs trimmed by a commercial contractor will not be picked up; and
  • Branches must be placed on the curb not obstructing the street or sidewalk.

Small branches may also be broken up and put into yard waste bags for pick up by your waste hauler.

Year-Round Residential Branch Drop Off

Residents may drop off branches, free of charge year-round, to Evans Recycling with proof of residency. This service is not for commercial contractors but for city residents only. Evans Recycling is located at 2100 J. David Jones Parkway and is open Monday-Friday, 7:00 a.m. – 5:00 p.m. and Saturday, 7:00 a.m. – 12-noon. Contact number is 217.391.0886.

Pickup schedule

Week of April 8th & May 6th

  • Northwest Quadrant – area north of South Grand Avenue and Old Jacksonville Road.  West of Walnut Street/J David Jones Parkway.

Week of April 15th & May 13

  • Southwest Quadrant – area south of South Grand Avenue and Old Jacksonville Road.  West of Walnut Street.

Week of April 22nd & May 20th

  • Southeast Quadrant– area south of South Grand Avenue and east of Walnut Street, including the properties around Lake Springfield.

Week of April 29th & May 27th

  • Northeast Quadrant – area north of South Grand Avenue and east of Walnut/J. David Jones Parkway.

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Announcements

Boil Order issued for parts of Deerfield Subdivision

Staff Contributor

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Press Release | City Water, Light and Power is issuing a boil order for parts of Deerfield subdivision, where a water service was repaired recently. Customers affected who are receiving notices today include these duplexes in Deerfield subdivision:

5300 thru 5411 Biltmore Dr.
2300 thru 2414 Asheville Dr.
2300 thru 2411 Knoxville Dr.
2204 & 2205 Thrasher Dr. & 5304 & 5305 Murre Dr.

Customers affected should boil all tap water used for drinking or cooking before use until this order is lifted. Water should be brought to a “rolling” boil for five minutes and then cooled before use when appropriate.

This boil order follows repair work to a water service on Asheville Drive. Per regulations, the main was flushed and multiple water samples were taken. One set of the samples did not fully meet CWLP water quality standards. Additional water quality sampling is being done to confirm that the water meets all standards and at such time, this boil order would be lifted.

When the boil order is lifted, which at the earliest would be this Friday afternoon, March 22, it will be announced by door to door notifications to customers affected and on CWLP’s Facebook page, www.facebook.com/4CWLP and Twitter page, www.twitter.com/cwlp_. Customers affected wanting more information on their service may also call the Water Communications Desk at 789-2323 ext. 2.

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Announcements

Southeast seeking donations for e-sports team

Thomas Clatterbuck

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Competitive video gaming, or E-sports, is one of the fastest growing competitive scenes in the world. And that scene is making its way to Central Illinois. The Illinois College e-sports team regularly competes against Big 10 schools and semipro teams. Southeast Springfield High School is looking to join the action. Southeast will be the first high school in Springfield to field an e-sports team.

E-sports, like any other team, is an opportunity to students to represent their school and get a real shot at a scholarship. But while e-sports don’t require the large facilities that other sports do, they do have equipment costs. Computers, mice, headsets, and the other kit necessary to take part can be out of reach for some students.

To make sure all students have the opportunity to showcase their talents, Southeast coach Dalton McGhiey is asking for donations on his go fund me page. You can learn more about the Southeast team on their campaign page as well.

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