PE-backed Geritrex taps Sawyer as CEO

Geritrex Holdings Inc, a maker of generic drugs, has named Tim Sawyer as CEO. He will retain his role as executive chairman. Prior to joining the firm, Sawyer was president of 1-800-Doctors. Geritrex is a portfolio company of BelHealth Investment Partners LLC.

PRESS RELEASE

New York, NY – September 18, 2017 – Geritrex Holdings, Inc. (“Geritrex” or the “Company”), a leading manufacturer and distributor of topical generic OTC products and pharmaceuticals and a portfolio company of BelHealth Investment Partners, LLC (“BelHealth”), a New York-based healthcare private equity firm, today announced the appointment of Tim Sawyer as CEO. Mr. Sawyer, who has served as an independent board member for the past two years, will also retain his responsibilities as Executive Chairman.

Mr. Sawyer has over 23 years of experience in the generic pharmaceutical industry both in the institutional and retail channels. He brings a strong history of leadership within sales, marketing, strategy, business and corporate development. Mr. Sawyer previously held senior roles at Mylan Pharmaceuticals (NASDAQ:MYL) as SVP for Corporate Strategic Development and Barr Laboratories as EVP for Global Generic Sales and Marketing (formerly NYSE:BRL, presently NYSE:TEVA). Most recently, he was President of 1-800-Doctors, a provider of online and telephony information about healthcare providers for patients, where he focused on retail and consumer partnerships.

Mr. Sawyer said, “After spending two years as Executive Chairman at Geritrex, I am thrilled to assume the CEO role as the Company enters its next phase of growth. I look forward to the continued collaboration with the full management team and BelHealth. I believe that our executive team’s combined 90+ years of experience in the OTC and pharmaceutical industry and broader healthcare sector, along with BelHealth’s extensive network, will allow us to further accelerate our growth over the coming years.”

Nathan Kronforst, Geritrex Board Member and Managing Director of BelHealth stated, “We have been very pleased by the strategic support Tim has offered as Executive Chairman of Geritrex and are excited to have him assume the CEO role and lead the business as we embark on a number of strategic growth initiatives. His decades of experience in the pharmaceutical space focused on sales and corporate development position him well for this role. Geritrex is in the early stages of growth and channel expansion, and we look forward to the leadership Tim and the entire executive team will provide in the continued development of the Company.”

About Geritrex
Founded in 1978 and headquartered in Mt. Vernon, New York, Geritrex is a manufacturer and distributor of topical generic OTC products and pharmaceuticals to patients in institutional and retail healthcare settings. Since inception, Geritrex has evolved from a local direct distributor to a national provider through wholesale, institutional and retail channels. The Company’s top selling products are ointments, creams and lotions.
Geritrex’s prominent list of customers includes: the Veterans Administration, Columbia Presbyterian Hospital, Albert Einstein Hospital, St. Jude Hospital, Mayo Clinic and Duke University Hospital.

About BelHealth Investment Partners
BelHealth Investment Partners, based in New York, is a healthcare private equity firm focused on lower middle market companies. BelHealth has a unique combination of investing, executive management and entrepreneurial experience. BelHealth acquires majority positions in entrepreneur-owned companies that it believes would benefit from its extensive operating and private equity investment expertise. The firm invests across three core healthcare segments: Services, Products and Distribution. BelHealth is investing from its current $350 million fund.