Company Analysis- Benzer Pharmacy

Goals

To get a better understanding about Benzer Pharmacy, including details like company value, key stakeholders, locations, innovation, social media analysis, value proposition, expansion plans, revenue model, details about their customer base, and their competitive advantage for prospective client acquisition.

Early Findings

Company Overview

  • Benzer Pharmacy was founded in 2009. In the third quarter of 2019, the company earned revenue of $231.7 million. There are more than 1,200 employees currently working in the company.
  • Benzer follows a unique philosophy, which is "people first." The philosophy primarily is based on the concept that "patients come first, and that a pharmacy is here to serve the community."
  • The company is determined to achieve its primary goal, which is "building a chain of independent retail and specialty pharmacies that could stand up against giants, while taking a stand for traditional “mom and pop” values epitomized within the traditional neighborhood pharmacy."
  • The following people hold the top leadership positions in the company:
  • President: Alpesh Patel
  • Chief Operating Officer: Noah Chapman
  • Chief Financial Officer: Thomas Pratt
  • Chief Technology Officer: Meghann Chilcott
  • Director of Clinical and Professional Services: Tonya Shackleford

Achievements

  • "Benzer experienced an increase in revenue well above initial projections of $350 million for 2018. But there were other significant milestones as well; namely, that the company earned recognition from the Tampa Bay Times as a “Top 50” top workplace and the Tampa Bay Business Journal as a "Best Places to Work" honoree, and top 25 “Fast 50” fastest-growing company."
  • "The American Pharmacy Purchasing Alliance cited Benzer as its “Independent Pharmacy of the Year,” an achievement that dovetailed with other noteworthy accomplishments, featuring Inc. Magazine’s inclusion of the company on its “Inc. 5000 Fastest-Growing Ranking” list, in which Benzer placed No. 2638 out of 5000 entries. Correspondingly, a similar list compiled by Business Observer rankings awarded Benzer Pharmacy “Top 500” Status in Southwest Florida Business."

Locations and Customer Base

  • "The company is currently serving through 82 corporate-owned and 34 franchise locations situated across 29 states, including Florida, Michigan, Virginia, West Virginia, North Carolina, Tennessee, Texas, Georgia, Nevada, Louisiana, New York, Missouri, Mississippi, Maryland, Ohio, Indiana, and Idaho."

Expansion Plans

  • In an interview with Tampa Bay Business Journal, Alpesh Patel, president of Benzer Pharmacy, revealed some upcoming business plans, recent achievements, current challenges faced by the company. The company is currently in plans of expanding its operations, moving to adjacent industry sectors like drug delivery and others. Benzer has "entered into agreements with Uber Health for transporting patients to-and-from the pharmacy for prescription pickup; ScriptSave WellRx Premier for prescription drug savings cards; ScriptDrop for mobile courier prescription drug delivery; and many others, currently in negotiations."

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