Enhanced Healthcare Partners (EHP), a New York-based private equity firm focused on investing in middle-market healthcare business, and Bourne Partners Strategic Capital (BPSC), a pharmaceuticals services and consumer healthcare-focused investment firm, have acquired Pharmaceutical Associate Inc (PAI).
PAI, a company that focuses in liquid unit-dose, bottle prescription and over the counter medications, will work EHP and BPSC to expand its manufacturing capacity, product lines and market footprint.
PAI manufacture and markets generic liquid pharmaceuticals for hospitals, independent pharmacies, retail chains, long-term care facilities and government agencies. PAI offers a complete line of hard-to-find liquid products in both out-patient out-patient and unit-dose packaging. Unit-dose liquid packaging offers advantages to existing bulk bottle packaging including improved compliance, reduced medicine waste and increased efficiency.
The investment from EHP and BPSC will provide PAI with access to strategic-level relationships, resources and growth capital that will allow PAI to act on its rapid market expansion plans.
“We realised we were at an important inflection point in our Company’s evolution and decided it was the right time to bring on financial partners that could help accelerate our growth,” says Kurt Orlofski, PAI CEO. “Choosing the right partner was a careful and deliberate process. It was clear from the start that EHP’s knowledge and expertise would help propel our vision forward. In addition, BPSC was instrumental in helping orchestrate this transaction, and due to their deep network in the pharmaceutical space, will be a true value-add partner. Together, we can accelerate our plans for expansion and innovation as well as attract the right talent to help grow our dynamic company. I’m truly proud to call EHP and BPSC our partners.”
Matt Thompson, EHP Partner, adds: “We are excited about the opportunity to help PAI continue to build their market leadership position in unit-dose liquid medicine by expanding its capacity, product line and overall capabilities. PAI is in an exciting position as it provides a win for patients, hospitals and the system by improving patient outcomes through accurate medication dispensing and reducing medication waste.”
Minor Hinson, Chief Investment Officer at BPSC says:“When we met with PAI’s team and owners over a year ago, we knew we could partner with them to take PAI through its next phase of growth.”
Banks Bourne, Founder of BPSC says: “Along with family and management, we are confident that EHP is the right partner to help accomplish this goal.”
