Webster Capital has made an undisclosed investment in Clinical Pharmacy Services. Based in Gray, Tennessee, Clincal Pharmacy Services is a provider of compounded radioisotopes to hospitals and clinics.
PRESS RELEASE
Waltham, MA (September 2, 2015) – Webster Capital is pleased to announce its investment in Clinical Pharmacy Services (the “Company”) and affiliates encompassing four radiopharmacies and mobile PET/CT imaging units servicing the Southeast United States. Together with Webster Capital’s recent acquisition of PharmaLogic earlier this year, the businesses represent the fourth largest radiopharmacy group in the United States.
Founded in 1990 and headquartered in Gray, Tennessee, the Company distributes a full range of compounded radioisotopes to hospitals and clinics, primarily for diagnostic nuclear imaging. The Company also operates several mobile PET imaging units providing on-site services to hospitals throughout its core and contiguous markets.
“Webster is excited to partner with the Company’s principals, Alan Arp and Ware Mitchell, to support their growth plans and complement PharmaLogic’s already strong presence in the Southeast corridor,” said David Malm, Co-Managing Partner and Head of Healthcare Services at Webster Capital. Alan Arp, the Company’s President agreed, saying, “Webster Capital’s knowledge of our industry and understanding of the healthcare market strongly aligned with Ware’s and my vision for the business.” Steve Chilinski, CEO of PharmaLogic, added, “The Company’s dedication to clinical excellence and comprehensive differentiated services makes it a great alliance partner with PharmaLogic. This is an excellent opportunity for the group to extend our footprint and expand our service capabilities to drive future growth.”
About Webster Capital
Founded in 2003, Webster Capital is a private equity firm with over $600 million of committed capital which invests in the branded consumer and healthcare services industries. Webster Capital provides equity financing, expertise and a broad contact network for management buyouts and growth capital. For additional information on Webster Capital please visit www.webstercapital.com.
About PharmaLogic
PharmaLogic, a Webster portfolio company acquired in March 2015, is a group of ten radiopharmacy locations servicing 200 hospitals and medical clinics across the United States.
About Clinical Pharmacy Services and Affiliates
Clinical Pharmacy Services is a group of four radiopharmacies and a mobile PET imaging business providing comprehensive products and services in the Southeast United States.
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