AmMed Direct COO departs

AmMed Direct LLC COO Tom Milam has, according to an NBJ report today, left the company, following accounting and reimbursement problems. The remaining management team is here.

PharmMD $8MM equity raise

Brentwood-based PharmMD, the medication-management services company formed by Clayton McWhorter and run by President-CEO Bo Bartholomew, has secured an $8 million equity investment from an undisclosed source, according to NashvillePost.com.

New boss at New Day

Council Ventures recently announced Edgardo (Ed) A. Mercadante (at left) has been appointed CEO of the venture-capital firm's portfolio company, New Day Pharmacy. Mercadante previously served as founder, chairman and CEO of Familymeds Group, Inc. (NASDAQ: FMRX); as founder and CEO of APP, Inc., a pharmacy benefits management company; and, as co-founder, president and CEO of Arrow Corporation, operating retail, clinic and institutional type pharmacies. Council said in a release that it expects Mercadante to produce strong gains at New Day, which was not long ago a distressed company. Mercadante also founded Dante Capital Management Investment and is a registered pharmacist. A BusinessWeek profile indicates he is a former member of the board of GNC Corp. and earned his bachelor's at Philadelphia College of Pharmacy and Science.