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Riverside’s Latest Acquisition Is Just What The Doctor Ordered January 06, 2011

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Physicians Pharmacy Alliance is Firm’s First Acquisition of 2011

The Riverside Company has acquired Physicians Pharmacy Alliance (PPA). PPA is a specialized, medication management pharmacy focusing on chronically ill individuals living at home.

Founded in 2002, PPA provides high-touch drug dispensing services to patients with multiple prescription drug requirements and/or specialty, high-cost drugs. The medical-at-home PPA model caters to patients suffering from chronic diseases like diabetes, multiple sclerosis or HIV.

PPA differentiates itself by focusing on providing excellent service to patients with the greatest and most consistent needs for prescriptions – often patients who are Medicaid or Medicare/Medicaid dual eligible. PPA’s high-touch service includes home delivery, unique prescription packaging and medication therapy management services and helps patients manage and improve compliance with prescription medications.

“PPA has really just gotten started on its growth path,” said Riverside Managing Partner Loren Schlachet. “The company’s strong value proposition for patients, physicians and payors, along with exceptional service mean that it is poised for expanding in existing markets while adding new markets and service offerings.”

Working with Schlachet on the transaction for Riverside were Brian Sauer, Vice President; Brad Resnick, Analyst; Dave Kralic, Finance Director. Morgan Keegan's healthcare investment division, Shattuck Hammond, served as financial advisors for PPA.

Joseph Ibrahim of Riverside's Principal of Healthcare Origination, sourced the deal and advised the team on the transaction. The PPA transaction is the 53rd healthcare industry acquisition in Riverside’s history. Though Riverside is a generalist investor, healthcare is the most prolific of the firm’s industry specializations, which also include education & training and franchising. PPA is Riverside’s first acquisition of 2011.

Fifth Street Finance Corp. was the lender on the transaction, and Jones Day and Hunton and Williams provided legal advice for the transaction.

The Riverside Company
The Riverside Company is a global private equity firm focused on acquiring growing enterprises valued at up to $200 million (€200 million in Europe). The firm partners with strong management teams and enhances its investments through acquisitions and organic growth. Since its founding in 1988, Riverside has invested in more than 240 transactions with a total enterprise value of more than $5.4 billion/€4.4 billion. The firm’s portfolio in North America, Europe and the Asia Pacific region includes 71 companies with roughly 14,000 employees. Riverside completes acquisitions smoothly thanks to $3.4 billion/€2.7 billion in assets under management, more than 195 professionals in 19 offices, and longstanding relationships with partner lenders.

Media Contacts

North America and Asia Pacific
Graham Hearns
Director of Marketing and Communications
The Riverside Company
216-535-2221

Europe
Pablo Fuente
Assistant Director of Marketing and Communications
The Riverside Company
+32 47485911

Media Contact

Stephanie Fraser
Marketing Consultant
The Riverside Company
Cleveland: +1 216 344 1267
London: +44 20 3077 1923