Modern HC Pharmacy, a newly formed portfolio company of Altamont Capital Partners, has acquired the specialty pharmacy assets of A-Med Health Care. Terms of the deal, which closed July 24, were not announced. Intrepid Investment Bankers advised A-Med. Huntington Beach, Calif.-based A-Med is a provider of medical supplies and specialty pharmaceuticals.
Intrepid Investment Bankers LLC (“Intrepid”), a leading middle market investment banking firm, today announced the sale of the specialty pharmacy assets of A-Med Health Care (“A-Med”) to Modern HC Pharmacy, Inc. (“Modern”), a newly formed portfolio company of Altamont Capital Partners (“ACP”). The transaction closed on July 24, 2012. Intrepid acted as the exclusive M&A advisor to A-Med in connection with the specialty pharmacy asset sale.
Founded in 1982 and headquartered in Huntington Beach, California, A-Med is a leading provider of medical supplies and specialty pharmaceuticals to patients throughout the United States. A-Med’s specialty pharmacy operation principally services Medicare, Medicaid / Medi-Cal and managed care patients across several disease states including, cystic fibrosis, HIV / AIDS and transplant patients.
Modern is a newly formed entity created to combine the specialty pharmacy assets of A-Med with the specialty pharmacy assets of Modern HEALTHcare, Inc., which provides long-term care medication programs for skilled nursing and assisted living communities and specialized pharmacy services to individuals challenged with a broad range of chronic health conditions. ACP is a private equity sponsor based in the San Francisco Bay area with $500 million in capital, focused on investing in change-intensive middle market businesses across several industries, including healthcare.
Ed Bagdasarian, Managing Director of Intrepid, commented, “We were pleased to have the opportunity to work closely with the owners and management team of A-Med through the sale process. After starting the specialty pharmacy in 2003 and growing it considerably, the owners of A-Med decided to pursue its divestiture so that A-Med could focus on building its core medical supplies business. The transaction represented the culmination of a complex three-party combination that best achieves the objectives of A-Med’s owners and allows management to focus on driving the growth of its medical supplies unit. This transaction continues our team’s long track record of completing successful transactions in the healthcare sector.”
“We are very appreciative of the work done by the team at Intrepid. This was a highly complex transaction and Intrepid demonstrated a thorough understanding of our business needs and the unique aspects of a specialty pharmacy in today’s changing healthcare environment,” said Larry Thacker, President and CEO of A-Med. “We are pleased to be selling the specialty pharmacy assets to Modern and ACP and wish them the best of luck in achieving their objectives and goals.”
The Intrepid team included Ed Bagdasarian, Gary Rabishaw, Jeremiah Mann, Shahriar Attaie and Chris Neils.
About Intrepid Investment Bankers LLC
Intrepid Investment Bankers LLC, based in Los Angeles, California, is a mergers and acquisitions and corporate finance advisory firm focused on the middle-market. Intrepid was founded in 2010 by the former principals of Barrington Associates, a firm that grew to become a leading national middle market M&A advisor before its acquisition by Wells Fargo in 2006. Intrepid’s services include M&A advisory, equity and debt capital raising and providing strategic advice in complex securities transactions. The firm focuses on the middle market corporate finance needs of entrepreneur and family-owned businesses, private equity sponsors and major corporations. Collectively, the senior team at Intrepid brings over 150 years of mergers and acquisitions advisory experience and has advised on over 250 transactions spanning a broad range of industries, including consumer products and services, industrial manufacturing, healthcare products and services, building products, business services and retail. www.intrepidib.com Member FINRA/SIPC.