CINCINNATI--(BUSINESS WIRE)--Albert Paonessa III, a visionary leader with over 25 years of experience in the drug distribution industry, has been named CEO of KeySourceUSA. In naming Paonessa as CEO, KeySourceUSA, the parent company of pharmaceutical drug distributor KeySource Medical, has strengthened its strategic commitment to provide nationwide distribution, competitive pricing, next-day delivery and unmatched customer service. Paonessa will lead the firm’s ambitious plans for acquisition and organic growth across the pharmaceutical distribution industry.
Paonessa is best known for his success with Anda, Inc., the country’s largest generic drug distributor by volume. During Paonessa’s 10 years as President of the company, Anda dominated the market growing sales by over 300%.
“This job is both the greatest challenge and opportunity of my career,” Paonessa says. “KeySourceUSA has all the pieces in place for tremendous growth. The firm’s focus on relationship-driven customer service sets them apart. The culture, expertise and ambition at KeySourceUSA perfectly positions the company to capture market share, and that’s the reason I’m so excited about this new role.”
Paonessa’s appointment comes on the heels of the acquisition of KeySource Medical, Inc., of Cincinnati, Ohio. The joint acquisition was led by Friedman Capital and Seal Rock Partners in a partnership aimed at leveraging the industry expertise of Randolph “Randy” Friedman and Jay Levine, co-founders of The Harvard Drug Group, alongside the middle-market private equity experience of Seal Rock Partners. That visionary ownership team drives KeySourceUSA’s service-focused approach.
KeySourceUSA is a holding company of healthcare-focused companies united by a dedication to the best possible client experience. KeySourceUSA’s veteran leadership team recognized that client service had become an afterthought in many areas of healthcare and set out to deliver world-class service across the industry. Working with independent and regional providers in all 50 states, KeySourceUSA delivers the products and solutions Americans rely on to stay healthy.