Massachusetts, January 2022 – Harbor Healthcare is pleased to announce the successful sale of a Massachusetts based long-term care (LTC) pharmacy, a leading provider serving long-term care facilities in the Northeast. The acquirer is also a successful provider of LTC pharmacy services to an adjacent region.
“We cannot cut corners with service in skilled nursing, consequently our business has focused on providing excellent service to our patients and facilities. As we transition to another stage in our personal lives it was important to find the right pharmacy with the right values to carry on our legacy in pharmacy. We also wanted to give our employees an opportunity to continue working with the new company. Our acquirer has a reputation of providing excellent patient care and excels at technology to enhance services. We feel very comfortable with this transition for everyone involved and look forward to continued success for all in the future.” said the President of the sell-side LTC Pharmacy.
Both pharmacies provided excellent service to their customers for decades and will continue to do so. The transition was carefully strategized to continue growth while preserving retention through uninterrupted service.
“We are very excited to watch the continued success of the acquirer and are pleased to help the sellers achieve their transition goals.” said Michael Cammeyer, Managing Director for Harbor Healthcare.
“There is significant consolidation on both the upstream and downstream segments within LTC pharmacy. Certain regions of the country are in-demand targets for acquirers as their strategic mandates for 2022 go into effect. The M&A activity we are witnessing now is actually a result of strategic decisions made 6 to 12 months ago, competition is really heating up. For now, we anticipate the LTC marketplace will continue to attract attention and as a result buy-side demand will remain high until market forces change or businesses are picked over. This sale is a strong example of the importance of synergies in LTC pharmacy M&A.” said Mark Alford, Strategic Advisor for Harbor Healthcare.
About the Massachusetts LTC Pharmacy
The pharmacy brings many years of experience within skilled nursing and other post-acute facilities throughout the Northeast. The closed-door pharmacy is privately owned and brings expertise, experience and an uncompromised level of patient care to every customer they serve. Technology and outstanding knowledge in the field of pharmacy gained the trust and respect of healthcare facilities throughout their region.
About the LTC Acquiring Pharmacy
The closed-door, LTC pharmacy is Private Equity backed and led by more than 75 years of pharmacy experience. As an independently owned institutional pharmacy, the company provides a level of service that caters specifically to their facilities, staff and residents. Additionally, the pharmacy offers state-of-the-art technology which helps create operational efficiencies and permits seamless integration with clients and customers.
About Harbor Healthcare
Harbor Healthcare is a boutique investment bank offering a variety of M&A advisory 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, 340B and retail 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 visit https://www.harborhealthcare.com.
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