CarePoint Partners has acquired Pinnacle Infusion of Albany, Georgia. CarePoint is an infusion therapy provider, serving over 6,500 patients per day at now 28 sites across ten states. The Braff Group served as merger and acquisition advisor for Pinnacle Infusion.
CarePoint Partners (CarePoint), a leading alternate-site infusion therapy and specialty pharmacy provider, recently announced that it has acquired Pinnacle Infusion, Inc. (Pinnacle) of Albany, Georgia. Pinnacle serves southwest Georgia and the acquisition is designed to complement the company’s presence in Atlanta and its significant Florida footprint. This becomes the 16th acquisition of CarePoint in less than five years. CarePoint is one of the largest independent infusion therapy providers in the United States, serving over 6,500 patients per day at now 28 sites across ten states.
The Braff Group (TBG) served as exclusive merger and acquisition advisor for Pinnacle Infusion.
“We are excited to have this team of professionals join CarePoint Partners. In conjunction with CarePoint’s current locations in Atlanta and Jacksonville, this acquisition will allow us to bridge those markets and care for more home infusion patients in the southeast,” said Dana Soper, CEO of CarePoint. CarePoint also has locations in Tampa and Miami . “This acquisition fits perfectly into our business model of being a local, trusted healthcare provider with the resources of a sophisticated national network. We are excited about the superlative quality of care and local reputation our new team members bring to CarePoint,” concluded Soper.
Pharmacist and former owner, Tony Singletary will be staying on to oversee operations in Albany. He added, “The same valued pharmacists and clinical team members our referring providers have grown to know and trust will now be able to provide a wider variety of IV therapies and better serve the community where we live and work.”
Former president of Pinnacle, Walker Davis, explained that the deal was a good fit. “We were looking to grow the business, both in terms of coverage and the services we could offer. CarePoint will make that a reality. We also were most concerned about the future of our employees and we know that they will be well taken care of and have an opportunity to grow professionally.” Mr. Davis will not be joining CarePoint as part of the acquisition.
This acquisition further advances the CarePoint mission of being a leading national provider of customer-focused pharmacy and related healthcare services in the home or alternate-site environment while maintaining a regional footprint.
“With a service orientation that offers at least some insulation from the kind of severe margin compression facing other pharmacy service providers, buyers are increasingly being drawn back to infusion therapy” commented Reg Blackburn, TBG Managing Director for Pharmacy Services that headed up the deal team representing Pinnacle. “With a balanced mix of traditional and specialty infusion products and services, companies like Pinnacle are in extremely high demand.”
About The Braff Group: The Braff Group is the leading merger and acquisition advisory firm specializing in the behavioral health and social services, hospice, home health care, specialty pharmacy, infusion therapy, home medical equipment, and health care staffing market sectors. The firm provides an array of transactional advisory services including sell side representation, debt and equity recapitalizations, strategic planning, and valuation. Since being founded in 1998, The Braff Group has completed more than 190 transactions. From 2008-2010, based upon deals completed, the firm was ranked number 1 in US Healthcare Services transactions (Source: Thomson Reuters).
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