Miami, FL — SMP Pharmacy Solutions, LLC (“SMP” or the “Company”) has been recapitalized by Galen Partners (“Galen”), a healthcare-focused growth equity investment firm. FocalPoint Securities, LLC (“FocalPoint”) served as exclusive investment banker to the Company. Financial terms of the transaction were not disclosed.
Headquartered in Miami, Florida, SMP is a high-touch, service-oriented specialty pharmacy that focuses on niche and complex therapeutic areas such as fertility. SMP differentiates itself from other specialty pharmacies through its personalized service and its ability to maintain high medication adherence amongst its patients. After achieving rapid historical growth, the Company sought a strategic partner to accelerate SMP’s key strategic initiatives. Understanding the complex industry dynamics and recognizing the Company’s exciting growth potential, Galen worked closely with FocalPoint and the Company’s management team to quickly and efficiently effectuate a successful transaction.
Armando Bardisa, Founder and CEO of SMP, commented, “We are proud of SMP’s history of delivering quality patient care through personalized service, highly trained and knowledgeable staff, advanced data and analytics, and a company culture centered on teamwork and integrity. On behalf of the entire SMP team, we are excited about our partnership with Galen, and we know SMP will accomplish even greater things with the backing and support of our new partner.”
Armando added, “We are extremely grateful to the FocalPoint team and the relentless effort they dedicated to our transaction. We chose them for their tenacity and they did not let us down. In Galen, they helped us find the right partner and structured a great outcome for us.”
Philip Borden, Managing Director at Galen, said, “We are excited about the prospect of building upon SMP’s high-touch pharmacy platform. Armando Bardisa and the rest of the SMP team have done a fantastic job of positioning SMP for future growth within fertility and other complex therapeutic areas such as inflammatory diseases, gastroenterology, oncology, and infectious diseases like HIV. We enjoyed working with the FocalPoint team and we appreciate their hard work, creativity, and professionalism throughout.”
Nishen Radia, Managing Partner at FocalPoint, added, “We are excited to announce this closing as it represents another successful transaction for FocalPoint in the pharmacy segment of the healthcare industry. Armando is an inspirational entrepreneur and has developed a truly unique business in a competitive industry. Philip and the entire Galen team demonstrated a keen appreciation for where the business can grow and were great to work with. We couldn’t be happier with the outcome.”
Regarding the transaction, Connor Mitchell, Director at FocalPoint, commented, “2018 continues to be a record year for the firm and this transaction reflects our sustained expertise in working with talented entrepreneurs. Armando and his entire team were a pleasure to work with throughout and we look forward to the future success of SMP.”
About SMP Pharmacy Solutions
SMP Pharmacy Solutions is a leading high-growth specialty pharmacy that provides treatments for a variety of complex disease states. Since 2003, management has grown SMP from a local retail pharmacy to a nationwide specialty pharmacy with licenses in 45 states and strategic partnerships with leading manufacturers and MSOs. SMP differentiates itself from other specialty pharmacies by its industry-leading service, combining customizable patient management and pharmacy programs with access to in-demand therapeutics. SMP has established a nationwide reputation with patients, payors, providers, and manufacturers for delivering true healthcare value to all constituents. SMP has developed specific therapeutic expertise in fertility and rheumatoid arthritis, and has strong experience in dermatology, infectious disease, gastroenterology, osteoporosis, and oncology. For more information about SMP Pharmacy Solutions, visit smppharmacy.com.
About Galen Partners
Founded in 1990, Galen Partners is a leading healthcare-focused growth equity investment firm. With nearly $1 billion invested over six funds, Galen has invested in and helped to build more than 70 companies since the firm’s inception. Galen continues a tradition of strategic collaboration and partnership with founders and management teams to build healthcare market leaders. Under the direction of the Managing Directors Philip Borden, David Jahns and Zubeen Shroff, Galen seeks to make investments in high-growth healthcare companies with revenues greater than $10 million and EBITDA between $0 and $9 million. SMP represents the second investment out of Galen Fund VI. For more information about Galen Partners, visit galen.com.
About FocalPoint Partners
FocalPoint is an independent investment bank specializing in mergers and acquisitions, private placements, financial restructurings and special situation transactions. With offices in Los Angeles and Chicago, the firm serves middle market clients throughout the U.S. and has a dedicated focus on the healthcare sector. For more information about FocalPoint Partners, visit focalpointllc.com.