Private investment firm Comvest Partners acquires the financially troubled e-retailer, which filed for Chapter 11 bankruptcy protection in March.
ChainDrugStore.net, an online communications network that links retail pharmacies and manufacturers, is expanding to reach independent pharmacies and individual chain stores.
ChainDrugStore.net, an online communications network for the retail pharmacy industry, is expanding to reach independent pharmacies and individual chain stores. ChainDrugStore.net, a subsidiary of the National Association of Chain Drug Stores, is a product-related marketing and merchandising network.
More than 30 pharmaceutical manufacturers use ChainDrugStore.net to communicate product-related marketing and merchandising information to more than 120 retail chains representing 32,000 stores. They communicate such information as product launches, pricing updates, indications changes, recall/safety information, updates regarding supply conditions and compliance and persistence programs. The expansion of services will give manufacturers the ability to communicate with individual stores within chains as well as with independent pharmacies from one source, the network says.
“This enhancement means that for the first time manufacturers will be able to communicate directly to the store level, including safety recalls and other information that directly affects consumers. This expansion will build on the 600% growth in retailer usage and 244% increase in manufacturer message volume ChainDrugStore.net has experienced over the past twelve months," said Brad Mitchell, president and CEO of ChainDrugStore.net.
Pharmaceutical manufacturers enrolled in ChainDrugStore.net represent $91 billion in annual revenues and over 65% of the total dollar volume of retail prescriptions sold in America.