PITTSBURGH, May 13, 2021 /PRNewswire/ — Harbor Healthcare is pleased to announce the successful sale of a Pennsylvania based long-term care (LTC) pharmacy, a leading provider serving assisted living, skilled nursing and group home facilities. The acquirer, a private buyer, is also a successful provider of LTC pharmacy services to the surrounding region. The transaction brings together two prominent pharmacies with extensive synergies and creates tremendous value for both buyer and seller. Building on their existing geographic footprints, the companies can now streamline services, reduce expenses and unlock greater potential throughout their regions.
«The team at Harbor Healthcare presented us with offers from a variety of investors and prospective buyers. Our pharmacy is in growth mode, and we are very pleased to identify a partnership that will reward that growth and allow us to capitalize on our strategic initiatives.» said the President of the Pennsylvania LTC pharmacy. «With the structure that Harbor helped us create, our business is going to accelerate rapidly, and we will all benefit. We are very excited to be a part of this new organization.»
Both pharmacies provided excellent service to their customers for decades and will continue to do so. The existing locations and team members will remain in place, helping to maximize value and continue growth while preserving the sellers’ legacy and improving retention through uninterrupted service.
«We are honored to bring both buyer and seller together in this unique partnership that facilitated unlocking liquidity and incorporated future growth for the sellers. We are very excited to watch these prestigious pharmacies grow from the coming wave and capitalize on opportunities that were not previously possible.» said Michael Cammeyer, Managing Director of Harbor Healthcare.
«In 2020, the LTC sector battled significant headwinds. While many subsectors are recovering, there is still more work to be done. As the pandemic recedes, owners can seize some incredible opportunities. Pent up demand, technological advancements and access to unprecedented capital have generated significant tailwinds for LTC pharmacies. The upside opportunities for owners during this time can create generational wealth that presents itself only once in a lifetime. In today’s capital markets, value remains the foremost consideration for a seller in an M&A transaction. Depending on their existing strategy and profile, there can be synergies with buyers that they likely don’t know exist. Owners frequently leave money and opportunity on the table because, and it’s unfortunate, they’re not able to identify their ideal buyer. We are very pleased to bring this acquirer to our client and facilitate the synergies between the two enterprises.» said Mark Alford, Director of Pharmacy M&A Strategy and Business Development at Harbor Healthcare.
About the Pennsylvania LTC Pharmacy
The multi-location pharmacy brings more than 50 years of experience and services over 6,000 lives within skilled nursing, assisted living, and other post-acute facilities throughout the Northeast. The closed-door pharmacy is privately owned and brings expertise, experience and an uncompromised level of patient care to every customer they serve. Technology and outstanding knowledge in the field of pharmacy gained the trust and respect of healthcare professionals throughout the tri-state region.
About the LTC Acquiring Pharmacy
The closed-door, multi-location LTC pharmacy is led by more than 100 years of pharmacy experience and serves all segments within long-term care. As an independently owned institutional pharmacy, the company is able to provide a level of service that caters specifically to their facilities, staff and residents. Additionally, the pharmacy offers state-of-the-art technology that permits seamless integration with clients and customers and facilitates efficient management. The pharmacy operates in several states across the Midwest and East Coast.
About Harbor Healthcare
Harbor Healthcare is a boutique investment bank offering a variety of M&A advisory services to middle market healthcare and pharmacy businesses since 1995. The company provides perceptive strategic solutions to independent owners and investors of long-term care, specialty, home infusion, compounding and retail pharmacies. As a pharmacist founded firm comprised of bankers and healthcare entrepreneurs, Harbor offers unparalleled regulatory and advisory expertise while maintaining unshakeable business relationships with strategic, private equity and independent acquirers. For more information, please visit https://www.harborhealthcare.com.
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SOURCE Harbor Healthcare Consultants