Pharmed Group

The Pharmed group was once the premier international distributor of medical, surgical, pharmaceutical and rehabilitative supplies in Florida and the largest Hispanic distributor in the United States, Latin America and the Caribbean, but it later became a symbol of corruption in South Florida. From its humble beginnings in 1980 in a small storage room with only one desk and one phone in southwest Miami, The Pharmed Group emerged as the premier international distributor of medical, surgical, pharmaceutical and rehabilitative supplies in Florida and the largest Hispanic distributor in the United States, Latin America and the Caribbean. In 2007, the company and its founders were charged with multiple counts of health care fraud and tax evasion, and Pharmed declared bankruptcy later that year. In 2009, Pharmed founders Carlos De Cespedes and Jorge De Cespedes pleaded guilty to health care-related wire fraud and tax evasion and were sentenced to 9 years in federal prison. Pharmed was liquidated in bankruptcy and is no longer in operation.