Poly Pharmaceuticals specializes in developing and marketing branded, generic, and over-the-counter pharmaceutical products. Founded in 1980 by a team of skilled pharmacists, it has grown to become a leader in its field and, since February 2022, has been part of the ADDvise Group.
“We have a very strong position in an expanding sector, and being part of ADDvise Group means we can leverage this,” says Chase Williams, CEO and former owner of Poly Pharmaceuticals.
As the company expanded, it quickly established operations throughout the Southern United States, with a sales presence in New Mexico, Texas, Louisiana, Arkansas, Mississippi, Tennessee, Alabama, Georgia, and Florida. Its wide range of healthcare products provides treatment for symptomatic relief of pain, coughs and colds, allergies, sinusitis, and urological health.
Decentralized management paves the way for future successes
Chase has been with Poly Pharmaceuticals since 2004, and other staff members have been there for over 20 years. When Chase decided to sell, it was important to assess any potential risks to the organization and its employees. Chase met with several companies before meeting with ADDvise Group. He was immediately interested in the decentralized management style and decided this core value aligned well with Poly Pharmaceuticals.
“There was a fear that they wouldn’t keep their promise of a decentralized management style. But they have been very open-minded, and we have not seen any indication that they plan to make major changes to our daily operations”.
Strong support and financial backup
Being a part of ADDvise Group has many benefits. The strong financial backing that ADDvise Group offers is of particular importance to Poly Pharmaceuticals.
”With ADDvise behind us, we are able to plan our expansion strategy, such as investing in new products or further developing our manufacturing line. It’s something that just wasn’t possible before”.
Poly Pharmaceuticals has also been able to decrease its spending in several key areas. For example, when it requires legal support, expert guidance is provided by ADDvise’s in-house legal function, resulting in a significant reduction of legal costs.
Chase also points out that he no longer needs to make all the financial and managerial decisions by himself as he now has access to strong management support and advice. The team at ADDvise Group provides a sounding board for new ideas and strategic development. Networking with other managers of companies within the same group is an added bonus.
”We have regular meetings with the other companies, and I’m certain that the network will become increasingly important as we become more settled”.
A bright future for Poly Pharmaceuticals as part of the ADDvise Group
Although Poly Pharmaceuticals has only been a part of ADDvise Group for a short time, the benefits are already apparent, and more can be expected.
“By joining ADDVise Group, we now see new possibilities for expanding our business across the US.“
He has also noted that more companies in the healthcare industry are joining ADDvise Group, opening up new opportunities for cross-collaborations within the organization.
”We are already looking at beneficial collaborations with some of the companies. As part of the ADDvise Group, we see a bright future for both companies”.