Little Rock-based ExpressRx confirms acquisition of 7 AllCare Pharmacy stores
A major pharmacy chain in Arkansas, AllCare Pharmacy, had sold its retail locations to Walgreens and Express Rx, according to a number of sources. Little Rock-based Express Rx confirmed it has acquired seven of AllCare’s Arkansas facilities. Financial terms of the transaction were not disclosed.
Privately-held AllCare is owned by Percy Malone, a former State Senator from Arkadelphia, where the pharmacy chain is headquartered. There are 15 cities served by AllCare, according to its web site. Express Rx said its acquisition was done in partnership with MHR Fund Management. The Little Rock-based Southeastern regional pharmacy chain has now grown to include 30 stores and 305 employees across eight states. Approximately, 85 AllCare employees will join Express Rx, according to a statement from the company.
“Since it was established, Express Rx has remained committed to enhancing access to high-quality healthcare services in the Heartland,” said Galen Perkins, Express Rx CEO. “This acquisition will allow us to further expand offerings to customers throughout rural Arkansas.” “I strongly believe Express Rx will be an asset to these communities, both as a trusted healthcare provider and employer,” said Franklin McLarty, Express Rx advisory board member.
The healthcare and life sciences M&A markets were active in 2020 and transaction activity is robust and growing in 2021, even amid the COVID-19 pandemic. There is unprecedented capital in market, the lowest interest rates in US history and strong acquirer motivations for high quality healthcare companies. Across the continuum of care, buyers and investors are looking for well established, profitable businesses and offering strong valuations and options for management.
Do you know the current market value of your business? We do!
We are here to help you plan, prepare, explore and succeed in executing your strategic options.
Contact Paragon Ventures for more information.
www.paragonventures.com
800-719-1555
