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Fred's names new board member

MEMPHIS, Tenn. — Fred's has named Steven Fitzpatrick to its board of directors. Fitzpatrick will be presented as one of the director nominees at the company's 2012 annual meeting to be held later this summer.

Fitzpatrick was the president of Accredo Health Group Inc., a specialty pharmacy subsidiary of Medco Health Solutions Inc., a position he held until he retired in June 2011. He joined Accredo in 2001 as president of its subsidiary, Sunrise Health Management Inc., and was named president of Accredo Therapeutics Inc. in February 2002. With the acquisition of Accredo by Medco Health Solutions, Inc. in August 2005, Fitzpatrick assumed responsibility for both Accredo Therapeutics and Accredo Specialty Care Services (formerly Medco Specialty Solutions). In March 2006, he became COO of Accredo Health Group and was named president in June 2008. Prior to joining Accredo, Fitzpatrick held senior management positions with Abbott Laboratories, Block Medical, PharmaThera and Nations Healthcare.

Commenting on the announcement, Michael Hayes, chairman of the board, said, "The addition of Steve Fitzpatrick to our board brings a unique blend of business acumen along with a knowledgeable resource for the management to call upon regarding pharmacy operations. We are delighted to have Steve join our board. Steve will join Bruce Efird, Rick Chambers and Tom Tashjian on Fred's strategic pharmacy healthcare committee to explore growth and capital needs over the next five years, and he will also serve on several other committees."

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