Truth and Integrity:
Becoming a Benefit Corporation
Ventegra was established in 2004 by Robert (Bob) Taketomo. After a successful career involving numerous aspects of pharmacy practice, he found that many PBMs were falling short in their mission to benefit their clients and members. He also saw many discrepancies in financial data and reporting. Because of these inconsistencies, he decided to form a new business model, which he termed “PSA.” PSA (Pharmacy Services Administrator) is a “new class-of-trade” solution that offers an innovative portfolio of pharmacy benefit services in a fully transparent manner. It focuses more on member health to ensure appropriate use of prescription drugs and to lower costs for clients through innovative programs and products.
It was a natural step for Ventegra to transition from an LLC into a Benefit Corporation. Benefit Corporations are relatively new to the business world. In essence, they can be a for-profit entity that intentionally considers benefits to society and the environment. They differ from traditional corporations in purpose, accountability, and transparency. This type of corporation provides assurances that the business Bob created will remain dedicated to his mission of bettering the healthcare industry and the health of the public at-large, while remaining intact for future generations. Ventegra is proud to be a Benefit Corporation because we believe healthcare is a societal good. The Benefit Corporation status reflects our company culture and the clients we attract, enhances our company manifesto, and allows us to further channel our resources to greater impact and improve the lives of others.
Ventegra also learned about a community of businesses who encourage each other to work harder in order to create value for society and not just shareholders. This community, called “B Corp” and managed by B Lab, is comprised of businesses that voluntarily meet higher standards of transparency, accountability, and performance. B Lab-certified B Corps are viewed as an elite tier of businesses with rigid and high standards that must be attained and maintained. B Corps are important because they inspire all businesses to compete, not only to be the best in the world, but to be the best for the world. This community also fits in with the vision the Ventegra team has for the company, and Ventegra is thrilled to join their ranks as a certified B Corp.
By restructuring as a Benefit Corporation, Ventegra has ensured that truth and integrity is being cemented into our corporate foundation. In this form, Ventegra will provide something that is missing in the investment-driven marketplace: stability and consistency. Ventegra and our clients are now able to move forward, secure in the knowledge that the social and environmental ideals of Ventegra will remain intact for many generations. Ventegra is proud to be at the forefront of corporations that implement initiatives that benefit not only stakeholders, but society as a whole.