Long-Term Care Institutional Pharmacies

Phoenix completes and integrates seven different transactions for an operator of long-term care institutional pharmacies.

The Client

A large Midwestern for-profit operator of Long-Term Care Institutional Pharmacies (LTCIP) with annual revenues in excess of $6.2B. The client developed as part of their growth strategy the plan to acquire through asset purchases multiple privately owned LTCIP’s.

The Challenge

The company executed a series of Letter of Intents (“LOI”) to acquire large LTCIP’s that were located on the east coast. The LOI’s and Asset Purchase Agreements (“APA”) were negotiated throughout the year with ninety day firm closing dates on the transactions. The client lacked the skilled internal resources to perform the necessary due diligence within the timeframe outlined for closing the numerous transactions. In addition, the client lacked a formal plan to integrate new acquisitions into the corporate environment. Post close to each transaction, the client required an interim Chief Financial Officer (ICFO) to oversee all financial operations and develop the entire financial reporting mechanism.

The Solution

Phoenix personnel were retained to complete the numerous transactions due diligence and provide acquisition integration. In total, seven different transactions were completed and all were integrated into a newly established regional office that was set up in Long Island, NY. The ICFO was retained for eighteen months to complete integration and to recruit and train the permanent CFO.

Phoenix Transaction

Primary Industry

  • Services

Secondary Industry

  • Healthcare

    Primary Services