Frazier Healthcare Partners Completed its Acquisition of
Altruix
WindRose Health Investors, LLC (WindRose), the New York-based
healthcare private equity firm, announced that it has completed
the sale of Altruix to Frazier Healthcare Partners (Frazier).
Terms of the transaction were not disclosed.
Altruix, headquartered in Hunt Valley, MD, is a leading
behavioral health-focused pharmacy serving patients with severe
mental illness (SMI), substance use disorders (SUD), and
intellectual and developmental disabilities (IDD). The company’s
differentiated care model combines high-touch clinical support,
medication adherence programs, specialized packaging solutions,
and access to complex behavioral health therapies to improve
outcomes for patients with serious and persistent behavioral
health conditions.
Altruix currently operates 17 pharmacies across the Mid-Atlantic
and serves a diversified base of more than 800 behavioral health
providers and over 32,000 patients per month. WindRose completed
its initial investment in Altruix, then operating as Terrapin
Pharmacy, in December 2021.
Concurrent with closing, Frazier Executive in Residence Randy
Hyun has been appointed as the Chief Executive Officer to lead
the Company’s continued expansion. Randy brings extensive
experience across pharmacy services, managed care, and the
pharmaceutical supply chain, most recently serving as the
President of Evernorth Health System Services. Greg Ganse,
Altruix’s former Chief Executive Officer, will continue to
support the Company as an investor and advisor following the
transaction to help ensure a seamless leadership transition and
support the Company’s long-term strategic initiatives.
Altruix most recently acquired Lizza’s Apothecare Pharmacy and
Laurel Long Term Care Pharmacy, trusted local pharmacies that
have served the community of Uniontown, Pennsylvania since 1990.
The M&A market for healthcare companies continues to build on STRATEGIC opportunities and a fragmented market. Consolidations along with unprecedented demand are driving scale across the continuum of care. The strategic corporate buyers and private equity investors remain committed to acquiring strong businesses that are well prepared for a transaction. Across the continuum of care, these buyers and investors are looking for well established, profitable businesses and offering prime 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.
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