WindRose invests in pharma rebate manager TWRx

In conjunction with WindRose’s investment, TWRx acquired SRX, a provider of pharmaceutical rebate management services for the skilled nursing and LTC industry.

  • Dr. Eric Moskow, co-founder of TWRx, will continue to lead the company as its chairman and will remain a significant shareholder
  • McDermott Will & Emery LLP acted as legal advisor to WindRose and Mintz, Levin, Cohn, Ferris, Glovsky, and Popeo, P.C. acted as legal advisor to Third Wave
  • Based in New York City, WindRose manages over $2.6 billion in investments

WindRose Health Investors has made an investment in Third Wave Recovery Systems, a provider of rebate administration services for hospitals, long-term care facilities and select specialty physician groups. No financial terms were disclosed.

In conjunction with WindRose’s investment, TWRx acquired SRX, a provider of pharmaceutical rebate management services for the skilled nursing and LTC industry. The company appointed a new executive team to lead the combined entity, including CEO Ed Lagerstrom, former president of UnitedHealthcare Networks.

“I’m pleased to have the opportunity to collaborate alongside WindRose with talented healthcare executives on a disruptive business model,” said Lagerstrom, in a statement. “TWRx is positioned as a market leader, predicated on transparency, compliance, and trusted partnerships with its customers.”

WindRose’s investment in TWRx will support the company’s strong momentum in the rebate administration marketplace. Dr. Eric Moskow, co-founder of TWRx, will continue to lead the company as its chairman and will remain a significant shareholder.

McDermott Will & Emery LLP acted as legal advisor to WindRose and Mintz, Levin, Cohn, Ferris, Glovsky, and Popeo, P.C. acted as legal advisor to Third Wave.

WindRose invests in healthcare services. Based in New York City, WindRose manages over $2.6 billion in investments.