The Vistria Group acquires BioCare
The Vistria Group has acquired BioCare, a leading specialty pharmaceutical distribution partner that provides distribution, specialty pharmacy and logistics services.
BioCare represents The Vistria Group's first investment from Vistria Fund IV, a $2.68 billion fund, which closed in June of this year.
"Today's announcement marks an exciting path forward for BioCare. Partnering with The Vistria Group will allow us to invest additional resources to better serve our customers and reach more patients who suffer from rare, ultra-rare and orphan diseases," said Linda Matthews, CEO of BioCare.
[Read more: Retailers bolster specialty pharmacy as its role in the industry grows]
Founded in 1982, the Tempe-based BioCare encompasses BioCareSD, a leading specialty distributor of life-saving therapies, LogiCare3PL, a national provider of time and temperature-sensitive pharmaceutical logistics services and CanyonCareRX, a full-service specialty pharmacy with a deep understanding of specialty needs. The company partners with leading blue-chip manufacturers, connecting them to healthcare providers from hospitals, specialty pharmacies, ambulatory infusion centers, physician infusion suites, and other alternate site locations. Its specialty distribution arm BioCareSD leverages the company's wide distribution network, to ensure patients with life-threatening conditions have rapid access to treatment, 24 hours a day, 7 days a week and 365 days a year.
"We believe BioCare is well positioned to become the leading specialty distribution partner in the industry. We are excited to partner with Linda and the rest of the BioCare team in its next phase of growth," said Jon Maschmeyer, senior partner at The Vistria Group.
"BioCare is a great fit with The Vistria Group portfolio and we look forward to supporting the BioCare team to scale the business both organically and through acquisitions," added Natasha Latif, principal at The Vistria Group.
[Read more: Retailers build out their specialty pharmacy offerings]
Stifel served as the advisor to BioCare.