Harbor Healthcare Consultants is pleased to announce the successful sale of Hopkinton Drug Compounding Pharmacy, a Massachusetts-based 503A compounding pharmacy and leading provider of compounded therapies serving patients across 35 states. The transaction brings together two independent pharmacies and creates tremendous value for both buyer and seller. Combining their geographic footprints, the acquiring pharmacy will maximize their growth strategy while the sellers participate in a well-planned strategic partnership.
“The team at Harbor Healthcare brought in a variety of acquirers that offered different opportunities for us. Our objectives were very specific, and we were conscious of how complex a pharmacy transaction can be.” said Dennis Katz, president of Hopkinton Drug. “I really do believe that having excellent representation in these complex transactions is critical. We are excited about the future growth of the new organizations and look forward to achieving success.”
“So many compounding pharmacy owners want to grow their businesses in today’s healthcare landscape. Because competition is fierce, they often perceive partnerships and sales as equity dilution and instead are hyper focused on mitigating risk. However, alliances, strategic partnerships, joint ventures and recapitalizations are all growth strategies. More specifically, they are complex methods where the characteristics of each company need to generate short-term and long-term synergies. Depending on where the business falls in its lifecycle, owners have key decisions to make when deciding on a partner. This transaction represents how out-of-the-box thinking in conjunction with the right buyer and seller creates tremendous value to both parties.” said Mark Alford, Managing Director at Harbor Healthcare.
About Hopkinton Drug
Since 1954 Hopkinton Drug has been dedicated to the health and well-being of the community of New England. The pharmacy specializes non-sterile custom medications and forms including capsules, creams and suspensions and serves patients and providers with needs in dermatology, hormones, pain, vitamins and veterinary medications.
About the Acquiring Pharmacy
The acquirer is a 503A compounding pharmacy specializing in a variety of compounded dosage forms in non-sterile environments. By providing better patient outcomes through quality compounding, they remain at the nationwide forefront of the compounding pharmacy segment. The pharmacy is licensed in all 50 states and provides medication for anti-aging and integrative therapies.
About Harbor Healthcare
Harbor Healthcare is a boutique M&A advisory firm offering services to middle market healthcare and pharmacy businesses since 1995. The company provides perceptive strategic solutions to independent owners and investors of long-term care, specialty, home infusion, compounding (503A and 503B) and 340B pharmacies. As a pharmacist-founded firm comprised of bankers and healthcare entrepreneurs, Harbor offers unparalleled regulatory and advisory expertise while maintaining unshakeable business relationships with strategic, private equity and independent acquirers. For more information, please contact Mark Alford, Strategic Advisor for Harbor Healthcare (619) 535-9005 or visit https://www.harborhealthcare.com.
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