ACON Investments and Triton Pacific Capital Partners LLC have acquired Weston, Florida-based BioMatrix Specialty Pharmacy LLC, a specialty pharmacy platform company focused on infused and oral specialty drugs. No financial terms were disclosed. Tracy Finn and Patrick Keefe, two ex-senior executives at Omnicare Inc, also participated in the transaction. Robert W. Baird & Co provided financial advice to BioMatrix on the deal.
WASHINGTON, Nov. 28, 2016 /PRNewswire/ — ACON Investments, L.L.C. and its affiliates (“ACON”) announced it has recently completed the purchase of BioMatrix Specialty Pharmacy, L.L.C. (“BioMatrix” or the “Company”), a specialty pharmacy platform company with a focus on both infused and oral specialty drugs.
As part of this transaction, ACON partnered with Tracy Finn and Patrick Keefe, two former senior executives of Omnicare, Inc. ACON is also joined by Triton Pacific Capital Partners, LLC (“Triton Pacific”), an experienced private equity healthcare services investor. The Company will continue to be led by CEO Bruce Greenberg and other members of the existing senior management team, together with Tracy Finn who will serve as Executive Chairman.
“We are excited to partner with the management of BioMatrix, Tracy, Pat, and Triton Pacific to build a leading independent specialty pharmacy organization,” said Daniel Jinich, Managing Partner of ACON. “BioMatrix has earned the trust of patients, physicians, payers and pharmaceutical manufacturers due to its exceptional service, clinical capabilities and innovative technology tools. We see significant opportunity to leverage the existing capabilities of BioMatrix to diversify into new therapeutic categories while broadening the network of referral sources,” added Jinich.
“The entire management team is excited about our partnership with ACON, Triton Pacific, Tracy and Pat,” said Bruce Greenberg. “We are grateful that our new investors share our dedication to patient service and clinical excellence. We’re extremely proud of the company we’ve built together and I am excited to build on this momentum with our new investors.”
“I am pleased to partner with this excellent management team and look forward to working together to continue to deliver exceptional service to our patients and all of our stakeholders,” said Tracy Finn.
“In addition to growing the business organically, BioMatrix is capitalized to pursue strategic acquisitions in existing and new therapeutic categories. We look forward to working with our partners at ACON, our operating executives, Tracy and Pat, and the excellent management team at BioMatrix to accelerate these growth initiatives,” said Joe Davis, Managing Partner at Triton Pacific.
Debt financing for the acquisition was provided by Capital One through syndicated credit facilities. Hogan Lovells US LLP and DLA Piper LLP US acted as legal advisers to ACON and Dickson Wright PLLC acted as legal adviser to the sellers. Robert W. Baird & Co. acted as exclusive financial adviser to BioMatrix in the transaction.
Terms of the transaction were not disclosed.
Headquartered in Weston, Florida, BioMatrix was formed in 2015 through the merger of Matrix Health Group and BiologicTx, two specialty pharmacy companies with a common emphasis on a high-touch, clinically sophisticated and patient-centric care management model. With a network of seven pharmacies, the Company is a leading provider for patients with blood disorders, organ transplants and other chronic and acute diseases and conditions. BioMatrix has relationships with leading physicians, medical facilities and payors; and its Digital Health platform, provides innovative solutions for care givers, patients, payors and other stakeholders. For more information on the company, please visit http://biomatrixsprx.com/.
About ACON Investments
ACON Investments, L.L.C. is a Washington, DC-based international private equity investment firm that manages private equity funds and special purpose partnerships that make investments in the United States and Latin America. Founded in 1996, ACON has responsibility for managing approximately $4.8 billion of capital. ACON has professionals in Washington, DC, Los Angeles, Mexico City, São Paulo and Bogotá. For more information, visit www.aconinvestments.com.
About Triton Pacific
Triton Pacific Capital Partners, LLC, founded in 2001, is a private equity firm that invests in middle-market companies in high growth or rapidly changing industries. Headquartered in Los Angeles, California, Triton Pacific currently manages four private equity funds and is the sponsor of Triton Pacific Investment Corporation, a non-traded public Business Development Company. For more information, visit www.tritonpacific.com.