KRS Global Biotechnology, Inc., a market-leading registered and inspected 503B Human Outsourcing Facility, is under new ownership and management as of Q1 2020. Cleveland Diabetes Care, Inc. (CDC), a clinical-stage biopharmaceutical, gene therapy, and medical devices technologies company based in Boca Raton, Florida, acquired KRS and is dedicated to its continued expansion. Led by Charles Richardson, MD, MBA, Founder and CEO of CDC and his executive team, KRS is committed to remaining a leader and innovator in providing sterile and non-sterile compounding services to patients, hospitals, and surgery centers domestically and internationally.
“We couldn’t be happier about acquiring an absolutely essential service organization like KRS as we endure this trying time as a nation. Furthermore, we are working toward having the ability to produce our own APIs [active pharmaceutical ingredients] in-house, which will create a significant increase in value and quality to our patients, clients and partners,” says Dr. Richardson. Additionally, Dr. Richardson said, “We are also extremely proud to have helped so many patients throughout the country as they battle COVID-19. As soon as we saw the critical need in hospitals for vasopressors, paralytics, and pain relievers, such as fentanyl, for ventilated patients, we immediately jumped in to assist. Our entire team knows the difference that they are making in people’s lives. The value of that cannot be put into words.”
As we approach the New Year, the M&A market for healthcare companies continues to build on STRATEGIC opportunities in the current market. 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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