PE-backed Genoa buys Northeast Pharmaceuticals

Genoa, a portfolio company of Advent International, has acquired Northeast Pharmaceuticals Inc. No financial terms were disclosed. Based in Montgomery, Alabama, Northeast Pharmaceuticals is a provider of customized pharmacy services in the Southeast U.S.

PRESS RELEASE

Genoa has received final approval to acquire Northeast Pharmaceuticals, Inc., bringing together two pharmacy organizations with proven track records for excellent service to individuals with mental illness. Both companies have strong reputations for outstanding customer service, flexibility and delivering true value to their customers.

Genoa is the leading provider of pharmacy services dedicated to the behavioral health community and those affiliated with managing the cost and quality of their care. The company will now provide specialty behavioral health and long-term care pharmacy services to more than 400,000 individuals annually and span 260 pharmacies in 37 states and the District of Columbia.

“The addition of NEP to Genoa brings together two providers of specialty behavioral health pharmacy services into one organization committed to a common mission,” said John Figueroa, Chief Executive Officer of Genoa. “The combination adds to a company that can truly make a positive impact on the lives of individuals with a mental illness and those that care for them”.

“Our collective history of providing excellent service makes this a terrific addition and a win for all of our constituencies, including our clients and consumers, and our center partners,” Figueroa said.

The acquisition of NEP brings Genoa’s total number of employees to approximately 1,600. Both companies have maintained a focus on the core benefits of customized pharmacy services within behavioral health centers and in long-term and specialty pharmacy care settings. They serve a mental health population in which more than 25 million people are prescribed medications each year.

About Genoa, a QoL Healthcare Company
In July 2014, Genoa Healthcare received final approval to combine with QoL meds, bringing together two pharmacy organizations with proven track records for excellent service to individuals with mental illness. The combination created Genoa, a QoL Healthcare Company, the nation’s leading behavioral health specialty pharmacy company. Both companies had strong reputations for outstanding customer service, flexibility and delivering true value to their consumers and partners. By uniting their strengths – like best practices and expertise – the combined company is able to better serve individuals and the health organizations that care for them. For more information, visit us online at www.genoa-qol.com.

About Northeast Pharmaceuticals, Inc.
Founded in 2005 and based in Montgomery, AL, Northeast Pharmaceuticals is a leading provider of customized pharmacy services in the southeast, with eight pharmacies strategically located across three states. NEP proudly delivers customized pharmacy solutions to over 150 long-term care facilities. NEP are real people providing real solutions with real value. For more information, visit us online at www.nepharmacy.net.