Altamont Capital Partners has provided backing to support the carve-out of the specialty pharmacy operations of Modern HEALTHcare, based in Monrovia California. The new company, called ModernHEALTH Specialty Pharmacy, has also simultaneously acquired the specialty pharmacy operations of A-Med Healthcare.
Altamont Capital Partners (Altamont) today announced that it has provided capital to support the carve-out of the specialty pharmacy operations of Modern HEALTHcare, Inc. The new company, called ModernHEALTH Specialty Pharmacy, has also simultaneously acquired the specialty pharmacy operations of A-Med Healthcare.
“Over the years we have built a substantial specialty pharmacy business at Modern including BioFusion, a leader in the specialty infusion market. Continuing to build these businesses as an independent platform with a strong financial partner will allow us to better serve our patients and capitalize on the substantial growth opportunities we see in the marketplace. Altamont was the best partner for us given their deep industry knowledge and strong capability for handling complex transactions,” said Richard Katz, CEO of ModernHEALTH Specialty Pharmacy.
Commenting on the transaction, Casey Lynch, Managing Director of Altamont said: “Rick and the team at Modern and BioFusion have done an exceptional job working with physicians, payors and manufacturers to generate great outcomes for patients. This has led to strong growth and an outstanding reputation in the market. This type of high quality care is also clearly reflected at A-Med, making the two businesses a natural combination. We are excited to continue to build this company over the coming years both organically and through additional add-on acquisitions.”
The new ModernHEALTH Specialty will be based in Monrovia, CA. The Company will serve the needs of over six thousand patients in fifteen states. The Company will focus on specialty infusion, particularly IVIG therapy, as well as specialty pharmaceutical therapies with high service needs such as HIV, Cystic Fibrosis, Transplant, Hepatitis C and Multiple Sclerosis among others.
Keoni Schwartz, Managing Director of Altamont, added: “The specialty pharmacy market offers a lot of opportunity for a company that can combine both scale and high-touch service. We are thrilled to support the Modern team.”
Larry Thacker, CEO of A-Med Healthcare commented:
“The combination of Modern and A-Med creates an outstanding provider for patients with high service needs such as Transplant Patients and those affected by HIV, CF and MS. This is a great outcome for our employees, physician partners and patients.”
William Blair & Company, LLC and Sheppard Mullin Richter & Hampton LLP, advised and represented Modern on the transaction while Ropes & Gray LLP advised and represented Altamont.
About Altamont Capital Partners
Altamont Capital Partners is a private investment firm based in the San Francisco Bay Area with approximately $500 million of capital under management. Altamont is focused on investing in middle market businesses where it can partner with leading management teams to help its portfolio companies reach their full potential. The firm’s principals have significant experience building business success stories across a range of industries, including financial services, consumer/retail, industrials, healthcare and business services.
About Modern Health Specialty
Modern Health Specialty Pharmacy is a leading specialty pharmacy based in Monrovia California. The Company serves patients with complex pharmaceutical therapies including HIV, Cystic Fibrosis, Transplant, Hepatitis C, Multiple Sclerosis among others. The Company’s BioFusion division is a national leader in IVIG infusion therapy.