STANLEY B. BLAYLOCK APPOINTED CEO OF MEDMARK INC.
Pittsburgh, PA, October 13, 2005 - Medmark Inc., a leading provider of specialty pharmaceuticals headquartered in western Pennsylvania, is pleased to announce the appointment of Stanley B. Blaylock to Chief Executive Officer.
Mr. Blaylock has been the Company's President since June 2005 and has been assuming increased operating responsibility over the past year. Mr. Blaylock succeeds Peter Smith, who resigned his position as CEO but will remain as a consultant to the Company. Smith and Medmark's Board of Directors believed the Company's CEO should ultimately be located at its headquarters and had developed great confidence in Mr. Blaylock's ability to lead Medmark. "Stan has shown great leadership over the past several years, and I have full faith he will continue to move the Company forward successfully. I have known Stan for many years. He was a founding member of the Company, and he will do a great job as Medmark's leader," said Smith. "Under his leadership, Peter Smith's strategic vision for Medmark was realized over the past several years. He assembled a strong management team committed to executing upon that strategy. We are very appreciative of his past commitment and ongoing guidance to the Company," said Blaylock.
Before his promotion to President earlier this year, Mr. Blaylock had served as Medmark's Executive Vice President, Chief Financial Officer and Chief Administrative Officer, responsible for all operational, financial and administrative activities of the Company. Mr. Blaylock has also served as a member of Medmark's Board of Directors since the Company's founding. Mr. Blaylock was instrumental in Medmark raising over $40 million of strategic and venture capital in 2003 and 2004 to fund its investment in infrastructure and rapid growth. Having grown approximately 100% in 2004 and over 75% year-to-date in 2005, Medmark is one of the most rapidly growing health care services companies in the United States. The Company has embarked on a national expansion and expects to be licensed as a specialty pharmacy provider in all 50 states by the end of this year.
Prior to joining Medmark, Mr. Blaylock was the Global Co-Head of Health Care Investment Banking at Deutsche Bank (previously Deutsche Banc Alex. Brown), managing a very successful health care group on Wall Street, with at one point over 125 banking and research professionals worldwide. Mr. Blaylock has over 15 years of health care experience, a number of those years spent as an investment banker at Alex. Brown & Sons. Mr. Blaylock is a graduate of Harvard Business School and the University of Virginia.
About Medmark Inc. (Medmark)
Medmark is a full-service specialty pharmacy company that provides specialized pharmacy care (including injectables, infusibles and advanced oral medications) to patients with unique or chronic medication needs for conditions such as hepatitis, multiple sclerosis, respiratory syncytial virus ("RSV"), growth hormone disorders, HIV, infertility, hemophilia, immune deficiency, psoriasis, rheumatoid arthritis, organ transplants and cancer. Medmark provides biopharmaceuticals along with specific supplies and services to meet the unique needs of those patients requiring specialized pharmacy care. Headquartered in Pittsburgh, PA, Medmark has expanded rapidly in the last several years and provides comprehensive specialty pharmaceutical services to regional and national managed care companies across the United States.