Former TheraCom Chairman Robert Dresing Joins SupplyScape Board of Directors
WOBURN, Mass., May 12, 2006 - SupplyScape Corporation announced today the appointment of Robert K. Dresing, Co-Founder of Bethesda Partners and former chairman of TheraCom, to the company's Board of Directors. The appointment coincides with Bethesda Partners and Pfizer Strategic Investment Group joining existing investors IDG Ventures, North Bridge Venture Partners and Pilot House Ventures in financing the Series B round of $8 million.
Dresing is a successful entrepreneur who revolutionized the business practices in three industries: retail, non-profit, and health care drug distribution. An innovative change agent, Dresing re-invented drug distribution to be more secure and created new revenue opportunities for specialty pharmacy by defining better ways to deliver on customer needs. His approaches also improved patient care by increasing regimen compliance through innovative tracking methods.
"There's no more important business than delivering safe medications to patients who rely on them for their continued health," said Dresing. "The trick is to do it profitably, and SupplyScape is well positioned to enable customers to realize the strategic business value they seek as they transform the pharmaceutical supply chain to be more efficient and secure."
Dresing saw first-hand the life-saving importance of safe medications and a secure drug supply chain while President of the Cystic Fibrosis Foundation for 10 years. With the insights he gained, Dresing founded specialty pharmacy and care provider TheraCom which accelerated the specialty medications industry by revolutionizing the distribution network. As CEO, Dresing grew TheraCom to almost $100 million in 2001 when it was acquired by AdvancePCS. Dresing continued to lead TheraCom until shortly after AdvancePCS was acquired by Caremark, Inc. in March 2004. After leaving TheraCom, Dresing co-founded Bethesda Partners, LLC, an investment and consulting firm that assists health service companies.
"Bob Dresing has seen both sides of pharmaceutical delivery - patient care and drug distribution. His expertise in transforming drug distribution to realize benefits for patients and pharmaceutical companies alike is invaluable as we work with customers on their strategic investments in supply chain management and secure product delivery." said Shabbir Dahod, chairman and CEO of SupplyScape.
About Bethesda Partners
Bethesda Partners, LLC serves as a bridge between the private capital market and the health services industry providing capital outlay, management and advisory services. Drawing on decades of experience in the healthcare sector, Bethesda Partners' associates mix business acumen with a commitment to improved health solutions. Bethesda Partners works with companies that share a dedication to patient-focused, high quality, cost-conscious health services and products.
About SupplyScape Corporation
SupplyScape Corporation provides supply chain security software and expertise to safeguard and secure the pharmaceutical supply chain. A leader in defining the open universal standards-based electronic pedigree solution for the pharmaceutical industry, SupplyScape Corporation provides electronic pedigree and drug identity authentication software and services. The company's solutions enable pharmaceutical companies, wholesalers, distributors, and pharmacies to derive sustainable business value from their investments in supply chain security. For more information, visit www.supplyscape.com.
