Hanger Drug: Bank and Consultant Help Pharmacist Buy First Pharmacy

Hanger Drug: Bank and Consultant Help Pharmacist Buy First Pharmacy
Hanger Drugs is a well-known name around the Jeffersonville, IN area. They have been serving the community for over 75 years. In 2016, Lance and Kimberly Idleman were presented with the opportunity to buy the pharmacy and chose to become owners of Hanger Drugs.

Lance has been a practicing pharmacist for over 20 years. Lance’s first job was at an independent pharmacy in his hometown, Noble, OK. He quickly saw the positive impact that a pharmacist had on the community. He knew then, that his calling was to be a pharmacist. Lance attended and graduated from the University of Oklahoma where he earned his pharmacy degree.

Owning a pharmacy has been a dream of Lance’s even before he started pharmacy school. After practicing for 19 years, Lance had the opportunity to own his own pharmacy.

“I have been told, ‘In order to be successful, you need two things – drive and direction. One without the other will get you nowhere.’ ”

Lance and his wife, Kimberly, had the desire and they knew what they wanted to accomplish. They just needed the help and direction to get there. After much research, they decided to choose Independent Rx Consulting to be their trusted guide on their path to pharmacy ownership. Lance and Kimberly knew that purchasing a business involves risk. They felt that partnering with Independent Rx Consulting decreased their risk.

“Independent Rx Consulting’s years of experience in pharmacy provided us with a map to follow on our road to pharmacy ownership and avoid any potential financial missteps.”

Although there were many options for Lance and Kimberly as they looked at financing options, they chose First Financial Bank to finance their pharmacy. They knew that First Financial Bank had extensive experience in financing pharmacies and they had an instant connection with their loan officer, Bo Garmon. During their experience, they discovered that filling our financial forms could be quite daunting. Thanks to their loan officer’s experience, they were able to complete the process.

“Our loan officer was in contact with us throughout the process to make sure we were successful.” 

In September of 2016, Lance’s dream came true. He and his wife became owners of Hanger Drug.

Hanger Drugs offers prescriptions, over the counter medications, the Medication Synchronization Program, Unit Dose Packaging, and free delivery. Find Hanger Drug on the web at www.hangerdrug.com, on Facebook- Hanger Drugs, Inc., or reach them by phone at 812-283-3591.

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 preferred Small Business Administration (SBA) lender offering financing solutions to help practicing pharmacists meet a wide range of business needs:

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

Jeffersonville, IN


Finding and acquiring a pharmacy that could be profitable for a first time owner.

Problem Solved

Found a pharmacy to purchase, received financing to purchase and helped navigate the difficult buying/transition process.

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