Healthcare-focused buyout firm BelHealth Investment Partners has completed its acquisition of specialty pharmacy Town Total Health. BelHealth also announced that healthcare and specialty pharmacy executive Michael A. Nameth has joined Town Total as CEO.
BelHealth Investment Partners (“BelHealth”), a healthcare-focused private equity buyout firm, announced today that it has completed its acquisition of Town Total Health (“Town Total”).
Town Total is a specialty pharmacy that distributes a broad range of specialty drugs to treat various chronic diseases and complex medical conditions including HIV, Hepatitis C and transplant maintenance therapy. Founded in 1989, Town Total has four locations – Melville, Albany, Bayside and Newark, NJ, servicing patients across the entire New York metro and upstate New York markets. The Company has a strong reputation for reliable delivery and vital support services for patients, providers, payors and pharmaceutical companies including reimbursement assistance and clinical adherence programs.
BelHealth also announced that Michael A. Nameth, a veteran healthcare and specialty pharmacy executive, has joined Town Total as CEO. Mr. Nameth was, until recently, the Executive Vice President of Walgreen’s (NYSE:WAG) specialty pharmacy business unit, where he was responsible for growing revenues several-fold over the past 5 years. Prior to this, Mr. Nameth held various positions for over 20 years with managed care, pharmacy benefit managers (PBMs) and specialty pharmacy businesses, including President of WellPoint’s (NYSE:WLP) PBM, Medmark and several Blue Cross Blue Shield plans.
Town Total founder, John Navarra, said: “I am excited to partner with BelHealth in creating a specialty pharmacy platform with Town Total as its foundation. BelHealth has put together a stellar team of people led by Mike Nameth, who is well-known in the industry, a strong board of directors and significant resources to capitalize on new opportunities in specialty. The transaction will build on the Company’s leadership position in HIV dispensing and expand its footprint and clinical presence both geographically as well as in rapidly growing disease areas such as Hepatitis C, Autoimmune diseases, Oncology and Transplant therapy.”
Mr. Nameth added “I am pleased to lead BelHealth’s investment in the specialty pharmacy sub-sector and I look forward to working with the highly experienced team. BelHealth has found a great platform in Town Total and an ideal partner in John Navarra, a seasoned and respected expert in specialty pharmacy. The US healthcare system is under pressure to improve patient outcomes while reducing costs. Chronic conditions, which are expensive to treat, consume an inordinate portion of our healthcare expenditures and specialty pharmacies play an increasingly vital role in ensuring patient adherence and improved outcomes. The specialty pharmaceutical industry has been growing significantly faster than the overall pharmaceutical market to $87 Billion in 2011 and 7 of the top 10 drugs are expected to be specialty drugs in 2015 as opposed to 3 today. I am excited to be part of this attractive opportunity.”
Harold S. Blue, BelHealth’s Managing Partner said “Specialty pharmacy is one of BelHealth’s key target sub-sectors because it fits our criteria of growth and favorable industry trends. In addition, it is an integral part of the pharmaceutical supply chain. We believe that the acquisition of Town Total provides an opportunity to capitalize on these favorable demand trends and establishes a solid platform in specialty pharmacy. Town Total’s recurring revenue model and leading market position is an ideal fit for BelHealth and John Navarra has positioned the Company for success. As a Town Total board member and someone who is actively involved with state and national payors, John will assist us with strategy and industry expertise. Michael Nameth is a seasoned specialty pharmacy executive and we are fortunate to have him. Mike has demonstrated the ability to build and lead executive teams and establish payor and manufacturer relationships that have resulted in multi-billion dollar revenue growth at his previous companies. We look forward to working with him to expand aggressively through organic growth and acquisitions.”
About Town Total
Serving areas within metro New York for nearly twenty five years, Town Total is a specialty pharmacy serving the prescription needs of patients with HIV, Hepatitis C and other chronic diseases. Driven by a goal for quality care, Town Total has evolved to meet the needs of patients, caregivers and prescribers in its community. Town Total’s model focuses on account management with each clinic, physician office or prescriber with whom they partner. This dedicated service enables each of its accounts to benefit from clear communication, a smooth process and strong relationships. Town Total truly partners with its prescribers to ensure each patient receives optimal care. The company is headquartered in Melville, NY.
About BelHealth Investment Partners
BelHealth Investment Partners is a private equity firm that invests exclusively in small-cap companies within the healthcare industry. BelHealth acquires majority positions in entrepreneur-owned healthcare companies that we believe would benefit from our vast entrepreneurial and operating experience. BelHealth’s target segments include Healthcare Services, Healthcare Information Technology, and Healthcare Products and Distribution. The Fund typically invests $10 – 25 million per platform company. Applying an active, hands-on approach to governance, BelHealth utilizes its experience to help drive revenue and profit growth, and achieve superior returns for its investors and partners.
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