Cincinnati, OH, September 15, 2011 – CarePoint Partners (CarePoint), a leading alternate site infusion therapy and specialty pharmacy provider, announced that it has acquired Mountain State Infusion Services (Mountain State) in Charleston, West Virginia. This marks the company's 14th acquisition in less than four years. CarePoint now operates eight locations in West Virginia, Ohio and Pennsylvania and is one of the largest independent infusion therapy providers in the United States, serving over 5,000 patients per day at 26 sites across nine states.
"The Mountain State acquisition is a strategic fit for the CarePoint Partners network," said Dana Soper, CEO of CarePoint. "The infusion pharmacy will complement our Fairmont presence, allowing us to service all of West Virginia and expand to the adjacent eastern Kentucky and western Virginia regions. We look forward to building more relationships in the Ohio Valley. With Mountain State's reputation for outstanding patient care, and the respect of providers and payers, we believe we will have more success here. We are excited to welcome their team to the CarePoint family," concluded Soper.
Pharmacist and owner of Mountain State Infusion Services, Jane Condee, commented, "We just really felt that the experience of the CarePoint management team gave us the confidence to make this move. The operational sophistication and technology will allow us to even better serve our patients. The transition has been smooth and our employees seem happy, so all-in-all, I can't imagine a better transaction for all involved."
The acquisition of Mountain State was completed on August 31, 2011. Financial terms of the transaction are not being disclosed.
About CarePoint Partners
Started in 2007, CarePoint Partners operates a network of regional home infusion and specialty pharmacies in the United States. Based in Cincinnati, Ohio, CarePoint provides these services via 26 sites in nine states (Florida, Georgia, Louisiana, Massachusetts, Ohio, Pennsylvania, Rhode Island, Texas and West Virginia). Infusion therapy involves the administration of medications and nutrients using intravenous, subcutaneous and epidural methods. Home infusion therapy allows patients to receive IV medications without the inconvenience or cost of a hospital visit.
CarePoint Partners was recently recognized as one of the fastest growing private companies in Greater Cincinnati. Dana Soper, CEO of CarePoint Partners, was also a recipient of the 2011 AGC Cincinnati Deal Maker's Entrepreneur Award.
For additional information on CarePoint, visit the company's website at www.carepointpartners.com.
About Waud Capital Partners
WCP is a leading middle market private equity investment firm founded in 1993 that partners with exceptional management teams to invest in growth equity investments, industry consolidations, buyouts and recapitalizations. The firm seeks to invest $10 million to $100 million in private companies in the following four areas: healthcare services, business and consumer services, specialty distribution and value-added industrial businesses. Typically, the companies in which WCP invests have enterprise values between $30 million and $300 million.
For additional information on WCP, visit the firm's website at www.waudcapital.com.
For Further Information Regarding Acquisition Opportunities:
Steven W. Jones, DPh, MBA
Executive Vice President, Business Development
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