Trips to the pharmacy are often related to some type of pain or discomfort.
Eliminating any additional headaches associated with such visits has been among the principles that led to the founding of Express Rx in 2013. Drive-thru pickups, automatic refills and free delivery are among the services the chain, founded by former USA Drug executives, has offered to speed up service.
"We realize going to the pharmacy isn't the highlight of most of our customers' day," CEO and principal Galen Perkins said. "Our goal is to make this as painless as possible."
Express Rx's latest attempt at expanding its services led to the purchase of the Cantrell Retail Compounding operation from Cantrell Drug Co. Terms of the deal, completed Friday, were not disclosed.
Compounding is the practice of preparing personalized medicines for patients. A customer who needs a compounding pharmacy is seeking a treatment that isn't mass-produced. Dosages and the mixture of medicines can be tailored specifically to his needs.
Cantrell Drug Co. will now focus solely on its hospital outsourcing division, which provides bulk prescription services to hospitals. Express Rx, which has a location on Cantrell Road in Little Rock, will now take on the individual patients who used the compounding pharmacy.
A letter from Express Rx pharmacist Kent Vinson was mailed over the weekend to introduce customers to Express Rx. It promises a smooth transition for customers.
"The same specialized pharmacy and compounding services will still be available -- no interruptions or delays," the letter reads. "Your prescriptions will be seamlessly transferred to our computers, so there won't be anything you need to do during this transition."
Express Rx founders all worked for Stephen LaFrance, who opened the first USA Drug store in Pine Bluff in 1984. USA Drug sold to Walgreen's for $440 million in 2012.
No-compete clauses from the Walgreen's acquisition prevent the LaFrance family from having a role in the Express Rx chain. But Perkins said the time spent at USA Drug has been invaluable for Express Rx, which opened its first store in May 2013.
Another location followed later that year, and Express Rx opened stores in March, May and October of 2014. A sixth store is scheduled to open in Cabot this year, and the chain currently has 45 employees. This year the company is on track for $12 million in revenue with locations in Missouri, Oklahoma and Arkansas.
"It's extremely valuable," Perkins said of the USA Drug experience. "What I learned there wasn't just in retail pharmacy, but in the back-end process."
Perkins is former vice president of pharmacy services for USA Drug. Former USA Drug CFO John Trainor, former vice president of pharmacy operations Chris Kaiser and former vice president of real estate Gain Robinson are all principals in the business.
Experience in retail pharmacy has formed much of how the business is modeled. Stores are co-owned with the pharmacists who run them. It's more co-op than franchise, Perkins explained.
Each location is between 1,600- and 1,800-square feet, a size that allows for more interaction between patient and pharmacist. That access helps set Express Rx apart from its larger chain competitors, Vinson said.
"We're different than most pharmacies. We're the first face they see," Vinson said. "That's an important part of the service we have. We want them to park and within 15 seconds be able to come ask us a question. That's one of the services we offer along with free delivery and an app. It's important to be accessible to the patient."
Adding the compounding business is viewed as a potential way to drive growth.
Cantrell Drug Co. CEO Dell McCarley said the expansion of his pharmacy's hospital outsourcing division made it difficult to maintain the proper focus on the retail and compounding elements of the business. None of the 150 people currently employed by Cantrell Drug Co. will be laid off, McCarley said, and recently announced expansion that will lead to 125 new hires is still planned.
Property at the Bill and Hillary Clinton National Airport/Adams Field will be home to Cantrell Drug. Its former location on Cantrell Road will be part of the hospital outsourcing pharmacy operation.
Express Rx is not affiliated with the Cantrell Drug Co.'s hospital pharmacy operation.
McCarley, a one-time competitor, said he admires the strategies that are pushing Express Rx's growth. He sees the potential for additional growth and views the compounding business as key to fulfilling those expectations.
"Anytime you have multiple locations and offer a unique service that differentiates yourself and your company from other providers in the market, that's a recipe for success," McCarley said of Express Rx. "They'll definitely have the ability to separate themselves from larger chains. People look for personalized service and pharmacists with specialized skills in unique areas. They will become a destination pharmacy."
SundayMonday Business on 02/21/2016