Harbor Healthcare is pleased to announce the successful sale of a Southern California based long-term care pharmacy, servicing over 5,100 licensed assisted living and group home patients. The strategic acquirer maintains a nationwide presence in the long-term care space and this acquisition provides them with further penetration into the highly competitive Southern California market. The acquirer brings decades of experience along with new services and technology to expand the pharmacy’s offering to its facilities and patients. Existing leadership will continue with the new organization which will ensure continuity of service and the same high quality of care its clients have come to expect. The strategically planned uninterrupted service will maximize growth, retain value, and maintain the seller’s legacy.
“We are thrilled to have found the right acquirer for our Company. We wanted a seamless transaction, and assurance that our patients and dedicated employees would be in good hands. Additionally, we wanted a buyer that would take our pharmacy to the next level and service the additional segments of long-term care we targeted as the next stage of growth. Our acquirer is truly the ideal partner to support the future of the pharmacy and we are excited to watch what we built continue to live on,” said one of the owners of the long-term care pharmacy. “The acquirer brings unmatched leadership, technology, resources, and expertise in the long-term care arena. The Harbor Healthcare team worked tirelessly to match us with the ideal acquirer, and they found the perfect fit for us and our goals. We are thankful to have made the decision to work with the pharmacy experts at Harbor Healthcare.”
“We worked closely with our clients and really took the time to understand their objectives. The sale process can be complicated, especially as multiple stakeholders have varying objectives, but we worked hard to bring together all parties and achieved a structure that satisfied all desired outcomes. The acquirer extended their reach into Southern California’s assisted living and behavioral health/IDD market, and the sellers buttressed the decade-long dedication to their customers and ensured the business’ legacy. Together, the new organization will possess a competitive edge by leveraging the combined relationships.” said Michael Cammeyer, Managing Director of Harbor Healthcare.
“The post-pandemic healthcare landscape offers unique opportunities for LTC pharmacy owners, many of which were not historically available. As the broader economy contracts, inexpensive money grows scarce and access to capital will impact M&A deal flow. There are already disruptions in the tech space from this cause and effect. Healthcare acquirers still see room in the economy to get deals done and this transaction demonstrates the importance of timing when bringing buyers and sellers together. We are pleased to have been able to help our clients achieve liquidity and look forward to the success of the new organization.” said Mark Alford, Managing Director of Harbor Healthcare.
About the Long-Term Care Pharmacy
A long-term care pharmacy servicing primarily assisted living and group home facilities and patients for over a decade with a management team that possesses vast clinical knowledge in the space. The pharmacy is dedicated to delivering safe, convenient, and reliable pharmacy services to patients across the Southern California region. The pharmacy’s mission is to provide exceptional patient care and customer service.
About the Acquiring Pharmacy
Bringing decades of experience to the marketplace, the acquiring pharmacy boasts a nationwide presence with operations in the east and mid-west United States. The Company specializes in all areas of long-term care pharmacy and its core management team are seasoned industry veterans who bring a fresh perspective and a technological approach to long-term care pharmacy operations.
About Harbor Healthcare
Harbor Healthcare is a boutique advisory firm founded in 1995 by its President, Ira Cammeyer, who is actively involved in guiding strategic initiatives at the company. Harbor offers a variety of M&A advisory services to middle market healthcare and pharmacy businesses. The company provides perceptive strategic solutions to independent owners and investors of long-term care, specialty, home infusion, compounding and 340B pharmacies. Harbor offers unparalleled regulatory and advisory expertise while maintaining business relationships with strategic, private equity and independent acquirers. For more information, please visit https://www.harborhealthcare.com.
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