Nuclear pharmacy operator PharmaLogic has merged with Radiopharmacy, which operates two radiopharmacies and distributes compounded radioisotopes to hospitals and clinics. No financial terms were disclosed. PharmaLogic is backed by Webster Capital and MedEquity Capital.
Waltham, MA (August 31, 2016) – PharmaLogic, a portfolio company of Webster Capital and leading independent nuclear pharmacy operator, announced today that it has merged with Radiopharmacy Inc., which services healthcare markets in Indiana and Illinois. PharmaLogic has expanded into 15 states and represents the fourth largest radiopharmacy group in the United States.
“The professionals at Radiopharmacy have a reputation of delivering an exceptional product with the highest standards, and that drew us to this opportunity,” said Steve Chilinski, PharmaLogic’s President and CEO. “We look forward to working closely with the excellent professionals at Radiopharmacy who have built the company into the respected provider that it is today.”
Radiopharmacy operates two radiopharmacies that are staffed with nuclear pharmacists and distributes a full range of compounded radioisotopes to hospitals and clinics, primarily for diagnostic nuclear imaging. “Webster is excited to partner with Radiopharmacy as they complement PharmaLogic’s already strong presence in the Midwest corridor,” said David Malm, Co-Managing Partner and Head of Healthcare Services at Webster Capital. Tim Quinton, Radiopharmacy’s President and Founder added, “PharmaLogic’s experience in our industry and understanding of the challenges servicing smaller healthcare markets is strongly aligned with my vision for the business.”
About Webster Capital
Founded in 2003, Webster Capital is a private equity partnership which helps companies unlock their potential. Webster focuses on branded consumer and healthcare services companies with EBITDA between $3 million to $15 million. Webster Capital provides equity financing, expertise, and a broad contact network for management buyouts and growth capital. At present, Webster has $600 million under management and is currently investing Fund III, a $400 million fund raised in 2014. For additional information on Webster Capital, please visit www.WebsterCapital.com.
About MedEquity Capital
MedEquity Capital is a healthcare private equity firm that focuses on investing in profitable healthcare services, distribution and products companies. Since MedEquity was founded 18 years ago, it has invested just under $300 million of capital with a realized annual rate of return over 20%. For more information, please visit www.MedEquity.com.
PharmaLogic, a Webster portfolio company, is a group of 15 radiopharmacy locations servicing over 200 hospitals and medical clinics across the United States. For additional information on PharmaLogic, please visit www.Pharmalogic.info.