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Wedgewood Pharmacy, the largest animal-health compounding pharmacy in the U.S., received the inaugural P.E.T. Award, given at the PSI Business Symposium on July 30 in Orlando, Fla. The award’s acronym stands for three vital components of veterinary practice success, People, Education and Training. Wedgewood Pharmacy was recognized as the Education winner for its substantial public affairs education work with veterinarians, state and federal legislators and regulators.
The company’s work with the Florida Veterinary Medical Association and PSI, which resulted in an important regulatory change to protect access to vital compounded veterinary-medications in the state, was cited as a successful collaborative effort.
A compounding pharmacy prepares personalized medications for patients, based on a practitioner’s prescription, in which individual ingredients are mixed together in the precise strength, dosage form and flavor required by a patient.
The award was presented by Dr. Richard Wilkes, DVM, CEO and founder of Purchasing Services, Inc. (PSI), the original and now largest veterinary group purchasing organization (GPO) in the U.S. The award was accepted by Lucy Malmberg, R.Ph., F.A.C.A., F.A.C.V.P., chairman of the board and co-founder of Wedgewood Pharmacy.
Wilkes said, “An authentic business partnership is marked by the ability to have substantial discussions that lead to positive change. Wedgewood Pharmacy has become an extremely important and strategic partner to PSI, for this reason. While they provide quality, compounded medications to thousands of hospitals, they operate with a customer-first mentality that always keeps veterinarians at the forefront.”
Malmberg added, “It is an honor to accept this award. Patient access to compounded medications is critical to animal health. We’re privileged to have PSI as a partner to support the education efforts that veterinarians rely upon.”
Wedgewood serves veterinary practices, including general and equine practices and board-certified veterinary medical specialists in Endocrinology, Ophthalmology, Oncology, Cardiology and Laboratory-Animal. The pharmacy compounds more than 19,000 different medications for companion animals, horses and exotic animals. In human health, the company primarily serves board-certified specialists practicing Addiction Medicine and Urology.
About Wedgewood Pharmacy
In its 36-year history, the company has grown from a local community pharmacy to become one of the largest compounding pharmacies in the United States, serving more than 30,000 prescribers and hundreds of thousands of patients throughout the U.S. every year with customized animal-health and human-health prescriptions.
Wedgewood Pharmacy is accredited by Pharmacy Compounding Accreditation Board (PCAB®) for compliance with PCAB pharmacy compounding accreditation standards. PCAB is a service of Accreditation Commission for Health Care and is a third-party accreditation organization that has developed the highest national standards that providers are measured against to illustrate their ability to effectively and efficiently deliver quality compounded medications to consumers.
In June 2016, Chicago-based New Harbor Capital became the majority owner of the company.
Purchasing Services, Inc. is the largest, most trusted and respected veterinary GPO in the United States supporting an alliance of more than 3,600 hospitals, their owners and staff with proprietary educational and financial resources, effective business solutions, premiere products and services, and leading innovations specifically designed to protect and sustain the livelihood of the independent veterinarian.
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