Cincinnati, Ohio, June 15, 2012 – CarePoint Partners (CarePoint), a leading alternate-site infusion therapy and specialty pharmacy provider, announced that it has acquired Pinnacle Infusion, Inc. (Pinnacle) of Albany, Georgia. Pinnacle serves southwest Georgia and the acquisition is designed to complement the company's presence in Atlanta and its significant Florida footprint. This becomes the 16th acquisition of CarePoint in less than five years. CarePoint is one of the largest independent infusion therapy providers in the United States, serving over 6,500 patients per day at now 28 sites across ten states.
"We are excited to have this team of professionals join CarePoint Partners. In conjunction with CarePoint's current locations in Atlanta and Jacksonville, this acquisition will allow us to bridge those markets and care for more home infusion patients is the southeast," said Dana Soper, CEO of CarePoint. Care Point also has locations in Tampa and Miami. "This acquisition fits perfectly into our business model of being a local, trusted healthcare provider with the resources of a sophisticated national network. We are excited about the superlative quality of care and local reputation our new team members bring to CarePoint," concluded Soper.
Pharmacist and former owner, Tony Singletary will be staying on to oversee operations in Albany. He added, "The same valued pharmacists and clinical team members our referring providers have grown to know and trust will now be able to provide a wider variety of IV therapies and better serve the community where we live and work."
Former president of Pinnacle, Walker Davis, explained that the deal was a good fit. "We were looking to grow the business, both in terms of coverage and the services we could offer. CarePoint will make that a reality. We also were most concerned about the future of our employees and we know that they will be well taken care of and have an opportunity to grow professionally." Mr. Davis will not be joining CarePoint as part of the acquisition.
This acquisition further advances the CarePoint mission of being a leading national provider of customer-focused pharmacy and related healthcare services in the home or alternate-site environment while maintaining a regional footprint.
The acquisition of Pinnacle Infusion was completed on June 12, 2012. 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.
For additional information on CarePoint, visit the company website at www.carepointpartners.com.
About Waud Capital Partners
Waud Capital Partners (WCP) is a private equity investment firm founded in 1993 that partners with exceptional management teams to invest in middle-market growth equity investments, buyouts, industry consolidations 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. The firm has completed more than 100 acquisitions since its founding and currently has approximately $1 billion of capital under management.
For additional information on WCP, visit the firm's website at www.waudcapital.com.
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