NewSpring has made an investment in Flushing, New York-based Total Care RX Inc, a specialty pharmacy. Also participating in the investment are Gemini Investors and Celerity Partners. No financial terms were disclosed.
Radnor, PA – August 22, 2018 – NewSpring (the “Firm”), a family of private equity funds, announced today that NewSpring Mezzanine (“NewSpring”), the Firm’s dedicated mezzanine strategy, has made an investment in Total Care RX, Inc. (“Total Care RX” or the “Company”) alongside Gemini Investors and Celerity Partners. Proceeds from the transaction will be used to finance the growth of the existing platform.
Founded in 2002, Total Care RX is a specialty pharmacy headquartered in Flushing, New York focused on filling, managing, and delivering medication for chronically ill patients, primarily organ transplant recipients and residents in long-term care facilities. The Company specializes in managing and delivering treatment regimens to all disease types with a focus on transplant care, cystic fibrosis, HIV, Hepatitis C, oncology, and nutritional care.
“We’re excited to partner with the Investors as we build upon our specialties and position our business for its next stage of growth,” said Bob Hopkins, Total Care RX CEO. “The support and expertise provided by our investment partners will strengthen our position within our existing disease states and geographic footprint and will allow us to expand into new disease states and geographies for the benefit of our patient base.”
“The management team at Total Care RX is dedicated to strategically growing the Company through the expansion of their current specialty offerings,” said Anne Vazquez, NewSpring Partner. “We look forward to working with the entire dedicated management team as they capitalize on their growth strategy.”
About Total Care RX
Total Care RX, Inc. is a progressive, independently owned pharmacy that has the capacity of a major chain with the personalized approach of a local pharmacy. The Company prides themselves on being a dedicated partner to physicians, providers, and the medical community and are committed to the long-term health and well-being of all their patients. For more information, visit www.totalcarerx.com.