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TheStreet Open House

'Women In Pharmacy' Program Seeks To Expand Pharmacy Ownership

DUBLIN, Ohio, July 24, 2014 /PRNewswire/ -- As part of its ongoing effort to help women pharmacists become business owners, Cardinal Health will host its annual Pharmacy Ownership Boot Camp on July 26 as part of the company's Retail Business Conference in Washington, D.C.

The Boot Camp is designed to give pharmacists the business knowledge and confidence needed to own their own pharmacies.  Now in its third year, the Cardinal Health program has become the industry's leading event for women pharmacists who dream of owning a pharmacy.  

Today, 61% of pharmacy students are women, according to the American Association of Colleges of Pharmacy. Yet only a fraction of the nation's 23,000 community pharmacies are currently owned by women.  That will change dramatically in the next decade as older pharmacists retire and sell their businesses to younger successors, often women.

Pharmacy is the second highest paying career for women – with a median income of $116,670, according to the Bureau of Labor Statistics.

"Women make 80% of healthcare purchasing decisions for their families and often serve as primary caregiver for their children, as well as aging parents. Who better to serve their healthcare needs than the growing number of women pharmacists?" says Eden Sulzer, director of the Women in Pharmacy initiative at Cardinal Health. 

The Pharmacy Ownership Boot Camp is part of Cardinal Health's wide-ranging initiative to help women pharmacists seize the opportunity of pharmacy ownership. The effort includes giving more than $4 million in pharmacy school scholarships to students who want to own their own pharmacy someday, as well as providing mentoring, networking, career and business development strategies to help them succeed.

At this year's boot camp, 50 pharmacy students and pharmacists interested in pharmacy ownership will work together with 20 female pharmacy owners who are experts on marketing, finance and human resources for an intense, daylong lesson in what it takes to own and operate a successful community pharmacy.

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