Cornerstone Pharmacy: Collaboration of Consultant and Bank Helps Chain Pharmacist Open a Pharmacy

Cornerstone Pharmacy: Collaboration of Consultant and Bank Helps Chain Pharmacist Open a Pharmacy
In June of 2017, Cornerstone Pharmacy opened their doors to offer routine pharmacy dispensing services, provide prescriptions for Hospice, and dispense travel medicine to the Palm Desertcommunity.

Greg Collins, R.Ph, owner of Cornerstone Pharmacy, had a strong desire to serve in the health profession. He wanted to make a difference in the health of the patients and provide for his family. Greg has worked in a pharmacy for the last 20 years. He has held various positions including intern pharmacist, pharmacy manager, district manager, and corporate pharmacist recruiter. 

After numerous years of working in a large chain pharmacy, Greg saw an opportunity to serve patients with an improved customer service experience.  He wanted his patients to know their pharmacy team and understand that they would have a much different experience than that of a chain pharmacy patient.  He knew that working in an independent pharmacy would allow him to partner with local businesses and providers in specialized markets.  As Greg began to dive into the adventure of owning his own pharmacy, he reached out to Owen Boundurant, owner of Independent Rx Consulting, to help him. Greg chose Independent Rx because of their extensive experience and knowledge of pharmacy ownership and the industry. He also liked the fact that they themselves own pharmacies. 
“I enjoyed working with the team and liked that they were willing to collaborate on all sorts of issues and that they were very accessible.” 
Greg then had to decide who would finance his pharmacy. After much research, he chose First Financial Bank because of their extensive experience in financing pharmacy transactions whether it’s a new start up or someone who was looking to buy another pharmacy.  
“They understand the pharmacy business and the capital expenditure that goes into a new start up.” 
Greg enjoyed being able to reach his lender, Amer Khamis, very quickly with any questions or concerns.  Amer helped him understand the various parts of a loan and to explain certain processes to him whenever a question arose. 

The Cornerstone Pharmacy is very involved in the community, including being a member of the local Chamber of Commerce, working with a local community group on aging, and collaborating with a Parkinson’s Resource Organization. Greg is also very involved in with his church, Southwest Church in Indian Wells, CA. 

Some of Greg’s proudestmoments are when he makes a difference in his patient’s lives. He loves to solve problems and exceed patient expectations. He is very proud of his team and all of the work they do to keep up the mission. 
“Treating all patients, young and old, as if they are your only patients gives you an opportunity to be a positive difference in their day/life.”
Greg is excited about his adventure in the independent community pharmacy business and is thankful that he had Independent Rx Consulting and First Financial Bank to make the process as easy as possible. 

As always, Greg wants to serve his patients and is excited about offering compounding services in early 2018.

You can contact Cornerstone Pharmacy by email – This email address is being protected from spambots. You need JavaScript enabled to view it., by phone- (760) 200-022, or on Instagram – gtcollinsrx.

First Financial Bank is one of the nation's leading small business lenders originating almost $200M in pharmacy loans over the last few years.  Our lending team has over 75 years of pharmacy experience and includes current and past pharmacy owners.  We have the industry specific expertise and knowledge to help you finance your pharmacy.
We are a preferred Small Business Administration (SBA) lender offering financing solutions to help practicing pharmacists meet a wide range of business needs.

Acquisition
Equipment financing
Expansion & remodeling
Business refinancing                       
Start-up loans

We offer a wide range of flexible terms tailored to your unique situation.  Whether you are buying, selling or refinancing, we'll work with you, one-on-one, every step of the way.
Our customer service, financial strength and expertise in working with independent pharmacies nationwide make choosing First Financial Bank a sound business decision!

Client Location

Palm Desert, CA

Objective

Starting a pharmacy with the right way and with plenty of capital.

Problem Solved

Used combination of vendors to ensure pharmacy was opened on time and within budget.

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