Accredo Health, Inc., incorporated in 1996, provides specialty retail pharmacy services, clinical services, reimbursement services and delivery services. The Company addresses the needs of the manufacturers by providing specialized services that facilitate product launch and patient acceptance, including the collection of timely drug utilization and patient compliance information, patient education and monitoring through the use of written materials and telephonic consultation, reimbursement expertise and overnight drug delivery. It has designed its specialty retail pharmacy services to focus primarily on biotechnology injectable drugs that are used on a recurring basis to treat chronic and potentially life threatening diseases, which are expensive and require temperature control or other specialized handling as part of their distribution process. The Company provides specialty retail pharmacy and related services that address the needs of patients with chronic diseases, including Multiple Sclerosis, Gaucher Disease, hemophilia, pulmonary arterial hypertension, growth hormone-related disorders, primary immune deficiencies, auto-immune disorders and respiratory syncytial virus. The Company has agreements with 15 biopharmaceutical manufacturers to buy drugs and to provide varying degrees of specialty retail pharmacy services for its 21 primary products. Although most of its agreements that involve specialty retail pharmacy services are not exclusive, Accredo generally is a recommended provider of the manufacturer's drug to patients and physicians. These agreements also contain favorable pricing from the manufacturer, and in many cases, compensate the Company for its specialized services. On July 21, 2004, the Company acquired privately held HRA Holding Corporation and its wholly owned subsidiary, Hemophilia Resources of America, Inc. (HRA). HRA, a full-service provider of hemophilia coagulation products and services for adults and children living with hemophilia and von Willebrand disease, has pharmacy locations in Pine Brook, New Jersey, Dalton, Georgia, Greensboro, North Carolina and Liberty Township, Ohio, serving patients in 30 states. Sale and Delivery of Drugs Accredo sells and provides timely delivery of drugs and ancillary supplies directly to the patient or the patient's physician in package specially designed to maintain appropriate temperatures. The package typically contains all of the supplies required for administration in the patient's home or in other alternate sites. Substantially all products are shipped from the Company's four primary pharmacy locations in Memphis, Tennessee; Charlotte, North Carolina; Nashville, Tennessee, and Pittsburgh, Pennsylvania. Accredo also maintains 36 satellite pharmacy locations across the United States. Specialty Retail Pharmacy Services The Company offers customized services to biopharmaceutical manufacturers designed to meet specific needs that arise at various stages in the life cycles of their products. Prior to product launch, Accredo offers consulting services related to strategic pricing decisions; analyses and information to assist manufacturers in evaluating payor mix and pricing strategies for their new drugs; testing of a manufacturer's packaging to assess maintenance of product temperatures and to determine whether the packaging system will meet the product's unique needs during normal shipping conditions; advice on injection and infusion supplies related to the drug therapy and assistance in procuring supplies and customized packaging for infusion supply kits, and clinical guidelines that assist nurses and caregivers in learning how to safely and effectively administer a drug, including sterilization techniques, supplies needed and infusion time required. Following product launch, the Company offers clinical hotlines that allow the physician or patient caregiver to inquire about product usage, adverse drug reactions and other clinical questions; reimbursement hotlines for patients and healthcare professionals; support for manufacturers' patien