Acquisition Creates Opportunity for Continued Rapid Growth
LOS ANGELES, November 28, 2016 – Triton Pacific Capital Partners, LLC (Triton Pacific) and Washington, D.C.-based ACON Investments, LLC (ACON) have joined forces to acquire BioMatrix Specialty Pharmacy, L.L.C. (“BioMatrix” or the “Company”), a specialty pharmacy platform company with a focus on both infused and oral specialty drugs.
As part of this transaction, Triton Pacific and ACON partnered with Tracy Finn and Patrick Keefe, two former senior executives of Omnicare, Inc. The Company will continue to be led by CEO Bruce Greenberg and other members of the existing senior management team, together with Tracy Finn who will serve as Executive Chairman.
“We are excited to partner with the management of BioMatrix, Tracy, and Pat to continue the Company’s impressive growth in building a leading, independent specialty pharmacy organization,” said Joe Davis, Managing Partner of Triton Pacific. “A focus on patient care, with the use of innovative technology has earned BioMatrix an excellent reputation amongst patients, physicians, payers and pharmaceutical manufacturers. We see significant opportunity to leverage this robust platform to grow into new therapeutic categories while continuing to grow the core business,” added Davis.
“The entire management team is excited about our partnership with Triton Pacific, ACON, Tracy and Pat,” said Bruce Greenberg. “We are grateful that our new investors share our dedication to patient service and clinical excellence. We’re extremely proud of the company we’ve built together and I am excited to build on this momentum with our new investors.”
“I am pleased to partner with this excellent management team and look forward to working together to continue to deliver exceptional service to our patients and all of our stakeholders,” said Tracy Finn.
Debt financing for the acquisition was provided by Capital One through syndicated credit facilities. Hogan Lovells US LLP and DLA Piper LLP US acted as legal advisers to Investors. Terms of the transaction were not disclosed.
Headquartered in Weston, Florida, BioMatrix was formed in 2015 through the merger of Matrix Health Group and BiologicTx, two specialty pharmacy companies with a common emphasis on a high-touch, clinically sophisticated and patient-centric care management model. With a network of seven pharmacies, the Company is a leading provider for patients with blood disorders, organ transplants and other chronic and acute diseases and conditions. BioMatrix has relationships with leading physicians, medical facilities and payors; and its Digital Health platform, provides innovative solutions for care givers, patients, payors and other stakeholders. For more information on the company, please visit http://biomatrixsprx.com.
About Triton Pacific
Triton Pacific Capital Partners, LLC, was founded in 2001 and headquartered in Los Angeles, CA. Triton Pacific is a private equity firm that invests in private companies in high growth or rapidly changing industries. Triton Pacific has sponsored over 50 private equity limited partnerships and is the sponsor of Triton Pacific Investment Corporation, a publicly registered non-traded growth fund focused on acquiring private businesses and is accessible to non-accredited investors at a $5,000 minimum; and Tasty Brands, LP; an offering focused on generating income by acquiring national brand chain restaurants. For more information, visit www.tritonpacific.com.
About ACON Investments
ACON Investments, L.L.C. is a Washington, DC-based international private equity investment firm that manages private equity funds and special purpose partnerships that make investments in the United States and Latin America. Founded in 1996, ACON has responsibility for managing approximately $4.8 billion of capital. ACON has professionals in Washington, DC, Los Angeles, Mexico City, São Paulo and Bogotá. For more information, visit www.aconinvestments.com.
Lages & Associates