(FLINT, Mich. ) Diplomat Pharmacy, Inc. is considering a sale or acquisition.
It's Board of Directors is "reviewing strategic alternatives".
The company is based in Flint on South Saginaw Street.
In a news release, the company said ...
"At the direction of its Board of Directors, the company is reviewing strategic alternatives focused on maximizing shareholder value. The strategic alternatives expected to be considered include, but are not limited to, a sale or merger of the Company, continuing to pursue value-enhancing initiatives as a standalone company, capital structure changes, or the sale or other disposition of certain of the Company’s businesses or assets. Diplomat has retained Foros Securities LLC as financial advisor and Sidley Austin LLP as legal advisor to assist with its strategic alternatives review.
“We are focused on growing our Specialty business with health plans and hospital systems, positioning the PBM business for growth and improving operating efficiency, while maintaining high standards of patient and customer care,” said Brian Griffin, Chairman and CEO of Diplomat. “At the same time, the Board believes that a broad review of strategic alternatives is in the best interests of the Company and our shareholders.”
“Diplomat remains committed to supporting our patients, physicians and manufacturer partners, as well as clients and team members during this process,” Griffin said.
There can be no assurance that this process will result in the approval or completion of any particular strategic alternative or transaction in the future. The Company does not intend to disclose developments or provide updates on the progress or status of the review of strategic alternatives unless and until required or when the Company determines appropriate".