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Fast-growing Genoa plans more pharmacies

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Since its launch in July 2014, Genoa, a QoL Healthcare Co., has increased its pharmacy count from 214 to 309 and nearly doubled annual sales to $1.1 billion.

Since its launch in July 2014, Genoa, a QoL Healthcare Co., has increased its pharmacy count from 214 to 309 and nearly doubled annual sales to $1.1 billion. The rapidly-growing community pharmacy operator, which specializes in pharmacy services for behavioral health patients, typically places its pharmacies at a community mental health center or other health care facility. Genoa CEO John Figueroa anticipates even greater expansion in upcoming years, in part due to the greater number of patients seeking help and prescription services following the implementation of the Affordable Care Act. "We opened 50 pharmacies in 2015, and we'll do between 55 and 60 this year," Figueroa said. "The sweet spot for us right now is about 75 to 80 openings a year." Possibilities for expansion include treating individuals with mental health problems who are making the transition from an institutional setting, such as hospitals and prisons, as well as individuals fighting substance abuse.

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