ShareThis Page
Business

Medmark co-founder shines, named Pittsburgh's entrepreneur of year

| Thursday, June 7, 2007

Colleagues say Stan Blaylock's drive, intelligence, business instincts and people skills helped him to be named on Wednesday as the Pittsburgh Venture Capital Association's Entrepreneur of the Year.

Within a four-year period, Blaylock co-founded specialty pharmacy care company Medmark Specialty Pharmacy Solutions Inc., helped raise more than $40 million in venture capital for the company's growth, then negotiated its sale to pharmacy giant Walgreen Co. for an estimated $140 million.

Blaylock's entrepreneurial skills will be recognized on Tuesday at a Venture Capital Association luncheon at the Duquesne Club, Downtown.

Being named Entrepreneur of the Year, Blaylock joins other Pittsburgh-area business people so honored, including Chris Allison of Tollgrade Communications Inc., Glen Meakem and Sam Kinney of FreeMarkets Inc. and Sean McDonald of McKesson Automated Healthcare.

"Stan has the absolute complete package you're looking for in an entrepreneur," said Richard Kollender, a partner with the Philadelphia-based venture capital firm Quaker BioVentures, and the person who nominated Blaylock for the award.

"He's smart, hard working, driven; he has good instincts and he trusts those instincts; he has great vision and he's a good people manager; he doesn't micromanage, but surrounds himself with good people. Walgreens is lucky to have him."

Quaker BioVentures and another Philadelphia venture capital firm, LLR Partners Inc., invested about $28 million in Medmark in 2004.

"I'm very honored personally to be named Entrepreneur of the Year, but I'm also pleased because it brings recognition for the company," Blaylock said. "There are a lot of folks with the company who deserve a lot of credit for this award."

Based in Carnegie, the company, now known as Medmark, a Walgreens Specialty Pharmacy, provides pharmacy care nationwide to managed care companies for their clients with unique or chronic medication needs. Those conditions include hemophilia, hepatitis, multiple sclerosis, organ transplants and cancer.

When the deal was announced last June, Blaylock said the acquisition by Walgreens only would help Medmark grow its business and its employee base. Nearly one year later, both have occurred.

"We continue to grow our business and our number of employees," Blaylock said. "We now have 180 employees at this location," a 50 percent increase from 120 a year ago.

After he co-founded the company in August 2003, Blaylock's responsibilities grew with the organization. He served as executive vice president, chief financial officer and chief administrative officer before being named president and CEO in 2005.

TribLIVE commenting policy

You are solely responsible for your comments and by using TribLive.com you agree to our Terms of Service.

We moderate comments. Our goal is to provide substantive commentary for a general readership. By screening submissions, we provide a space where readers can share intelligent and informed commentary that enhances the quality of our news and information.

While most comments will be posted if they are on-topic and not abusive, moderating decisions are subjective. We will make them as carefully and consistently as we can. Because of the volume of reader comments, we cannot review individual moderation decisions with readers.

We value thoughtful comments representing a range of views that make their point quickly and politely. We make an effort to protect discussions from repeated comments either by the same reader or different readers

We follow the same standards for taste as the daily newspaper. A few things we won't tolerate: personal attacks, obscenity, vulgarity, profanity (including expletives and letters followed by dashes), commercial promotion, impersonations, incoherence, proselytizing and SHOUTING. Don't include URLs to Web sites.

We do not edit comments. They are either approved or deleted. We reserve the right to edit a comment that is quoted or excerpted in an article. In this case, we may fix spelling and punctuation.

We welcome strong opinions and criticism of our work, but we don't want comments to become bogged down with discussions of our policies and we will moderate accordingly.

We appreciate it when readers and people quoted in articles or blog posts point out errors of fact or emphasis and will investigate all assertions. But these suggestions should be sent via e-mail. To avoid distracting other readers, we won't publish comments that suggest a correction. Instead, corrections will be made in a blog post or in an article.

click me