NORTHRIDGE, CA – August, 2019
Harbor Healthcare is pleased to announce the acquisition of Medical Center Pharmacy by CVS Health. The transaction represents a unique opportunity for independent pharmacy owners to monetize the assets of their business while allowing CVS to further expand their services to patients, customers and providers.
In addition to providing pharmacy services to walk-in patients, Medical Center Pharmacy also serviced medical centers, groups and hospitals within the densely populated area. The company also offered long-term care services to facilities within the Northridge community.
“Many pharmacy owners are experiencing balance sheet pressure in today’s hyper-competitive environment and presenting the business to multiple acquirers with foresight is imperative. Achieving liquidity is a complicated endeavor, and it’s common to leave money on the table if the process is not attentively executed. The owners of Medical Center Pharmacy worked hard throughout the years to provide exceptional service to each and every customer, patient, and provider they served. We are pleased to have facilitated their successful conclusion.” Said Mark Alford of Harbor Healthcare.
About Medical Center Pharmacy
Medical Center Pharmacy provided pharmacy services to the residents of Northridge, California and the surrounding areas for more than a decade. The pharmacy serviced walk-in patients in conjunction with clinics, hospitals and physicians. Providing best-in-class service and care to patients and customers the pharmacy is honored to have served the local community for so many years.
About CVS Health
CVS Health is the nation’s premier health innovation company helping people on their path to better health. Whether in one of its pharmacies or through its health services and plans, CVS Health is pioneering a bold new approach to total health by making quality care more affordable, accessible, simple and seamless. CVS Health is community-based and locally focused, engaging consumers with the care they need when and where they need it.
About Harbor Healthcare
Harbor Healthcare is a boutique investment bank offering a variety of M&A advisory services to healthcare and pharmacy businesses since 1995. The company has provided advisory services to more than 100 clients across the North American continent in all aspects of healthcare and pharmacy. The company provides custom tailored solutions to independent owners of long-term care, specialty, home infusion, compounding and retail pharmacies. The firm offers unparalleled regulatory expertise and maintains strong business relationships with strategic and private equity acquirers. For more information, please visit https://harborhealthcare.com.