GL & Professional for a Pharmacy in Mass

[insureman]

I need to find a market for a closed pharmacy (one that sells to hospices and institutions rather than general public) Receipts $10,000,000
They do basic (nothing drastic) compounding like making a medication taste better or strengthening a dosage.

My companies are freaking out over the compounding even though I think the vast majority of the pharmacies those same companies already insure do compounding.

Does anyone know of a market I can use?

Thanks,

[mardee.bullock@cgi-ams.co]

There is a small company in Iowa called Pharmacists Mutual that specializes in pharmacies. They sell primarily through captive agents but might be able to work something out for you.

They even write nuclear pharmacies, so they won't even blink over a compounding pharmacy.

You might give them a call - they are licensed in Mass. and I think they will probably write anything except the auto. You can check them out at http://www.phmic.com. They are a small operation but very friendly people. They are endorsed by the Massachusetts Pharmacists Association.

And yes, compounding is pretty common although I believe you do have to have a special license in most states to do compounding and sometimes they are separate business operations (for bookkeeping purposes) from the regular pharmacy.

Good luck!

[brokerdave]

A good wholesaler can help. I place compounders and would be happy to assist.

Just PM me and I'll get you started.