DTEC, a pharmacy solutions company, is founded by Jim Coleman in Memphis, TN.
The CPS name is launched when Ed Hirschman, Pharm. D., MBA in San Bernardino, CA establishes a southern California acute care hospital pharmacy management company with 18 employees.
CPS expands regionally and grows to 10 clients, including Arrowhead Regional Medical Center (ARMC) in California, a stateof-the-art acute care and teaching hospital with the second busiest ER in the state.
CPS Launches Management services
CPS launches pharmacy management services in Tennessee, Kansas and Texas.
ServiceMaster Company acquires CPS, along with DTEC. The companies are quickly consolidated under the CPS name.
CPS senior management led by Don Nickleson, along with a group of individual investors, acquires CPS from ServiceMaster. The leadership team returns the company’s focus to optimal pharmacy quality employing outstanding professionals who provide customer service excellence and enhance patient safety for their hospital owned retail pharmacy clients.
Don Nickleson appointed CEO and launches a strategic initiative to build out the company’s capabilities, further expand nationally and solidify the company’s position as the leader in cost-effective, quality pharmacy management.
CPS acquires McKesson Medication Management Pharmacy Services Division from McKesson Corporation. The acquisition adds 600 pharmacy services professionals and 47 client facilities to CPS.
CPS purchases Rx-Knights, a regional call center-based remote order entry company based in Chicago, and rebranded the new division as Rx-Remote Solutions. Rx-Remote Solutions provides patient-centered, safe, efficient, costeffective off-site medication order verification and processing services which meet the Joint Commission and CMS standards, HIPAA regulations and applicable state licensing requirements.
CPS rolls out Rx-Remote Solutions nationally.
CPS acquires leading long-term acute care hospital pharmacy management company Principle Pharmacy Group, expanding the company’s client base, creating additional operational synergies to all client facilities and strengthening CPS’s already significant presence in the specialty hospital owned pharmacy market.
CPS rebrands Rx-Remote Solutions to CPS Telepharmacy. The full suite of 24/7/365 remote pharmacy services help reduce readmissions, lower healthcare costs, improve clinical outcomes and decrease adverse drug events. Components of the program include: Remote Order Entry, Transitions of Care Services, Staff Augmentation, Post-Acute Chart Review and Medication Reconciliation.
CPS names Calvin Johnson (CJ) CEO, effective February 20, 2017. Mr. Johnson comes to CPS from SODEXO where he most recently served as President of the Hospital Division. Mr. Johnson is a Memphis native who grew up in the area before attending the U.S. Military Academy at West Point.
CPS announces the acquisition of PharmaSource, the pharmacy management division of Omnicare. The acquisition expands CPS’ broad service set and capabilities including Pediatric hospital support, furthering CPS’ position as the leader in pharmacy services nationwide.
CPS launches innovative turnkey specialty pharmacy service line. The new Ambulatory and Specialty Pharmacy capabilities will help leading healthcare facilities meet the growing demand for specialty drugs, navigate the complexities of ambulatory pharmacy services, and deliver better care to patients while improving financial performance.
CPS announces the acquisition of Ohio based Pharmacy Systems, Inc. (PSI), further building the largest hospital pharmacy services entity of its kind in the nation. Together, the merged companies control close to $2 Billion in U.S. drug spend, serve over 700 client facilities and be able to leverage their broad and complementary capabilities to help clients improve quality, reduce cost, and achieve better patient outcomes.
Frazier Healthcare Partners acquires Comprehensive Pharmacy Services. This partnership begins a new chapter for CPS with significant financial backing and support to deliver industry-leading services across a significantly broader client base. As Chairman and Chief Executive Officer, Frank Segrave is responsible for the overall leadership and management of CPS. Jeff Foreman, R.Ph., serves as Group President and is responsible for executive leadership overseeing all of CPS’ business unit operations and services.
CPS is the leading pharmacy services provider to hospitals, health systems and specialty providers with over 800+ clients in 47 states and Puerto Rico. CPS employs over 2,500 of the country’s leading pharmacy professionals with corporate headquarters in Memphis, TN. CPS continues to grow and invest in providing the best pharmacy services in the industry.