Wayne, PA, – Paragon Ventures, a leading healthcare mergers and acquisitions firm announces the successful sale of Blake Pharmacy to PharMerica, a national provider of pharmacy services. This acquisition contributes to PharMerica’s growth and diversification of service offerings, and expands the Company’s footprint in the Florida market.
Blake Pharmacy, a trusted pharmacy serving the local community, has established a strong presence in Florida with its commitment to personalized care and exceptional customer service. The acquisition by PharMerica will enable Blake Pharmacy to leverage the resources, infrastructure, and advanced technology platforms of a nationally recognized pharmacy services provider.
The acquisition of Blake Pharmacy aligns with PharMerica’s strategic objectives of extending service reach and fostering long-term partnerships. “We are proud to join forces with PharMerica and embark on this exciting new chapter,” said Ashish Patel, Founder and CEO of Blake Pharmacy. “By integrating our strengths and capabilities, we will be able to offer an expanded range of services to our valued patients.”
Paragon Ventures’ advisory team was led by Scott Fife, Vice President, who commented: “It was a pleasure to work with Blake Pharmacy on a strategic transaction which delivers outstanding value for both buyer and seller.”
About PharMerica
PharMerica is a leading provider of institutional, community- and home-based pharmacy services. The company serves the long-term care, senior living, hospital, home infusion, hospice, behavioral, specialty and oncology pharmacy markets. PharMerica operates over 180 long-term care, home infusion, and specialty pharmacies in all 50 states.
About Paragon Ventures
Paragon Ventures is the leading healthcare merger and acquisition advisory focused exclusively on strategic transactions for private mid-market healthcare companies. Since 1994, Paragon Ventures has advised thousands of healthcare business owners and successfully closed over 300 transactions across the continuum of healthcare. Follow Paragon Ventures on LinkedIn, Facebook and Twitter.
In 2023, 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.
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