The addition of Northridge Plaza Pharmacy will enable SMP to meet the growing demand across California’s robust fertility market
STAMFORD, Conn., Oct. 24, 2019 (GLOBE NEWSWIRE) -- Galen Partners, a healthcare-focused growth equity investment firm, announced today that its portfolio company, SMP Pharmacy Solutions, has completed an acquisition of Northridge Plaza Pharmacy (NPP), a well-known and trusted entity among fertility clinics in California. The acquisition advances SMP’s strategic expansion plan to enhance its local presence in the West Coast region, where demand for support of the growing fertility market is amongst the highest in the U.S. The financial terms of the transaction have not been disclosed.
“We are excited about the prospect of building upon SMP’s high-touch pharmacy platform in California’s high demand geography,” said Philip Borden, Managing Director at Galen Partners. “Founder & CEO 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 through the Northridge add-on acquisition.”
Armando Bardisa, SMP’s Founder and CEO, stated, “We are excited to extend SMP's white-glove services to the West Coast. This signifies a major step in our mission to provide industry-leading services throughout the nation.” SMP will provide a host of differentiated services to clinics and patients that include personalized care, superior support, and a robust technology platform.
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 an investment out of Galen Fund VI.
For more information, please visit www.galen.com.
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 50 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 throughout a wide array of disease states, with a particular focus on fertility.
For more information, please visit www.smppharmacy.com
Stacey Bauer
Office: (203) 653-6473
sbauer@galen.com