FOR RELEASE: April 24, 2020
CONTACT: Rod Recor
Memphis, TN – Comprehensive Pharmacy Services, LLC (CPS), one of the nation’s largest hospital pharmacy solutions providers, announced today that the company has made an initial $100,000 contribution to the Pharmacy Employee Relief Fund (Fund) to support pharmacy employees working on the front lines of the nation’s response to COVID-19.
The Fund has been established to help pharmacists, pharmacy technicians and pharmacy employees, including CPS employees, experiencing financial hardship due to illness, quarantine, business closure or school closure in the wake of the COVID-19 pandemic.
Parata Systems, which, alongside CPS, is a Frazier Healthcare Partners portfolio company, has made an initial $100,000 contribution, as well. Both Parata and CPS have committed to match the initial $100,000 donations once the fund exceeds $10 million. Frazier team members and Parata executives have made personal contributions to the Fund totaling $25,000, as well.
“In a time when pharmacy services are essential, we wanted to create a way to support pharmacy teams who are working on the front lines and giving their all to ensure patient care,” said Rob Kill, CEO of Parata Systems. “I am delighted that CPS and Frazier have joined us in this endeavor and invite other industry partners to get involved.”
The Fund will be operational on or before April 24, 2020 and will be managed by the Emergency Assistance Foundation. Grants will be awarded to individuals who meet the eligibility criteria. Subject to the availability of funds, a one-time grant of $500 will be disbursed directly to the applicant with a limit of one grant per person. Donors will be provided with tax information relating to their contribution at a later date.
“We are living in unprecedented times, so there is no better moment to all come together to support our valued pharmacy teams and partners,” said Frank Segrave, Chairman and CEO of CPS. “We’re extending an opportunity for our CPS employees to make contributions and directly help pharmacy workers across the country.”
To make a donation to support pharmacy employees and the essential services they provide, visit http://www.cpspharm.com/relief/ and click on the “Be a Donor” button. Applications for hardship relief can also be accessed by clicking on the “Get Assistance” button.
About Comprehensive Pharmacy Services, LLC
Founded nearly 50 years ago and employing over 2,500 pharmacy professionals, Comprehensive Pharmacy Services, LLC is one of the nation’s largest providers of pharmacy services to more than 800 hospitals and healthcare facilities nationwide. CPS helps their clients tackle complex problems such as hyperinflated drug costs, specialty pharmacy, ambulatory/retail strategy, operational effectiveness, interim leadership needs, and telepharmacy solutions. In addition, they address 340B programs, a variety of compliance concerns and much more. CPS helps pharmacy leaders drive cost, quality and safety improvements across the continuum of care. For more information, visit cpspharm.com.