New Harbor Capital-backed Wedgewood Pharmacy merged with Diamondback Drugs to form a combined animal-health business with more than 500 employees serving 40,000 prescribers and hundreds of thousands of animal-owners. Marcy Bliss, Wedgewood Pharmacy’s president and chief executive officer, will lead the combined company.
New Harbor Capital Portfolio Company Wedgewood Pharmacy Completes Merger
Two of the nation’s most-trusted animal-health compounding pharmacies, Wedgewood Pharmacy (Swedesboro, New Jersey) and Diamondback Drugs (Scottsdale, Arizona), have merged to form the largest compounding pharmacy in the United States.
The combined company will operate as Wedgewood Pharmacy, with more than 500 employees serving 40,000 prescribers and hundreds of thousands of animal-owners from two geographically strategic facilities. Wedgewood will have the most-comprehensive portfolio of formulations available and industry leading technology, to better help them care for the unique needs of their animals. The integration of the two companies will improve the speed of delivery to veterinary practices and patients, and will set the benchmark for the service and quality available to the market today. For additional information, please visit www.wedgewoodpharmacy.com and www.diamondbackdrugs.com.
The combined organization will be led by Marcy A. Bliss, Wedgewood Pharmacy’s President and CEO. Bliss said, “Combining our two pharmacies will provide more capabilities and enhanced service for all of our customers. Our deep, combined expertise in compounding medications, together with best-practice prescribing tools and technology, will facilitate an exceptional customer experience and veterinary healthcare.”
Maranon Capital was the agent in providing debt financing for the transaction and ReedSmith LLP served as legal counsel to Wedgewood.
About New Harbor Capital
New Harbor Capital is a Chicago-based private equity firm with over $400 million of capital under management, focused on investing in lower middle market, growth-oriented healthcare, education and business services companies. Our Partners have a combined 50 years of experience, partnering with strong management teams to systematically enable accelerated growth in value creation. Since 2000, the New Harbor team has completed over 200 investments. As an experienced strategic partner, New Harbor supports management with ideas, connections and resources to capitalize on growth potential.