Mark Montgomery – Axium Healthcare Pharmacy, Inc
Most can see a wave and admire its force and power, but it requires a completely different skill set to catch and ride it. The specialty pharmacy industry started about 15 years ago to provide medicines for patients with certain chronic care diseases. During that time, the industry has grown from $17 billion to $135 billion. As the industry has grown 18 percent per year, Mark Montgomery has led Axium Healthcare Pharmacy to a remarkable 30 percent growth rate since he has been with them. In 2006, he financed a buyout of the previous owners and continued Axium’s trajectory.
“To build our market share, we focused on customer service and our ability to quickly respond to the needs of our customers. Also we hired the best clinicians and provide the kind of environment where they would thrive.”
“The industry has three large companies that account for 60 percent of the market, but that leaves a pretty large slice of the pie of 40 percent for other companies to compete for,” Montgomery explained. It is a share Axium has done so well in, that Kroger, one of the largest grocery and pharmacy chains in the country, recently acquired Axium, though Montgomery has continued on as president and CEO.
In addition to his responsibilities at Axium, Mongomery also chairs Orlando, Inc.’s Sources of Capital Task Force to educate and connect entrepreneurs with sources of capital.