Intrepid, a leading middle-market investment banking firm, today announced the sale of the specialty pharmacy assets of A-Med Health Care (A-Med) to Modern HC Pharmacy, Inc. (Modern), a newly formed portfolio company of Altamont Capital Partners (ACP). The transaction closed on July 24, 2012. Intrepid acted as the exclusive M&A advisor to A-Med in connection with the specialty pharmacy asset sale.
Founded in 1982 and headquartered in Huntington Beach, Calif., A-Med is a leading provider of medical supplies and specialty pharmaceuticals to patients throughout the United States. A-Med’s specialty pharmacy operation principally services Medicare, Medicaid / Medi-Cal and managed care patients across several disease states including, cystic fibrosis, HIV / AIDS and transplant patients.
Modern is a newly formed entity created to combine the specialty pharmacy assets of A-Med with the specialty pharmacy assets of Modern HEALTHcare, Inc., which provides long-term care medication programs for skilled nursing and assisted living communities and specialized pharmacy services to individuals challenged with a broad range of chronic health conditions. ACP is a private equity sponsor based in the San Francisco Bay area with $500 million in capital, focused on investing in change-intensive middle market businesses across several industries, including healthcare.
Ed Bagdasarian, Managing Director and CEO of Intrepid, commented: “We were pleased to have the opportunity to work closely with the owners and management team of A-Med through the sale process. After starting the specialty pharmacy in 2003 and growing it considerably, the owners of A-Med decided to pursue its divestiture so that A-Med could focus on building its core medical supplies business. The transaction represented the culmination of a complex three-party combination that best achieves the objectives of A-Med’s owners and allows management to focus on driving the growth of its medical supplies unit. This transaction continues our team’s long track record of completing successful transactions in the healthcare sector.”
“We are very appreciative of the work done by the team at Intrepid. This was a highly complex transaction and Intrepid demonstrated a thorough understanding of our business needs and the unique aspects of a specialty pharmacy in today’s changing healthcare environment,” said Larry Thacker, President and CEO of A-Med. “We are pleased to be selling the specialty pharmacy assets to Modern and ACP and wish them the best of luck in achieving their objectives and goals.”
Deal Team Contacts
- Ed Bagdasarian, Managing Director
- Gary Rabishaw, Managing Director
- Jeremiah Mann, Managing Director
- Shahriar Attaie, Vice President
About Intrepid Investment Bankers
Intrepid Investment Bankers provides M&A, capital raising and strategic advisory services to entrepreneurs and middle-market companies in various industry sectors. Our heritage, rooted in our founders’ successful 35-year history, breeds a culture that embraces teamwork, tenacity and creativity to win big for our clients. We believe that every company has an entrepreneurial passion that drives it and a story that defines it. Our team delivers results through skillful positioning of the client’s story and relentless execution. Based in Los Angeles, Intrepid augments its international capabilities through active membership in M&A International, an exclusive global alliance of M&A advisory firms.
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