This investment will fund our organic and acquisition-related growth into other under-served markets
Anchorage, Alaska (PRWEB) July 13, 2015
Geneva Woods Pharmacy, Inc. (GWP), a leading provider of integrated Long Term Care (LTC) and home pharmacy services in under-served rural markets, has announced a large equity investment by Chugach Alaska Corporation (Chugach) and other Alaska-based investors, who together have acquired a minority interest in the company.
The investment will allow GWP to continue its consolidation efforts in under-served markets, while funding more technology adoption, standardization and compliance across all of its locations. GWP will also increase its investment in new services, such as the recently announced Transitional Pharmacy Services, aimed at reducing hospital readmissions and producing better outcomes.
Chugach partnered with well-respected local investors John Rubini and Mark Kroloff who initiated the investment conversations with GWP’s shareholders.
“We are excited to partner with a company that is innovating the ways in which we provide for the well-being of Alaskans and rural residents across the country,” said Gabriel Kompkoff, CEO of Chugach. “Access to quality healthcare in rural markets has been a challenge – but one that Geneva Woods is at the forefront of improving.”
“Geneva Woods has strong management, a forward-looking operating model and a commitment to quality,” said John Rubini, Chairman of JL Properties. “We see a tremendous opportunity for this model to serve other markets throughout the country and we are happy to help facilitate that growth.”
“We are very excited to join with Chugach and their partners. They not only bring financial strength to Geneva Woods – they also wholeheartedly share in our values and vision. Together we will do great things for the residents of our great State of Alaska and beyond,” W. Thomas Gimple, Chairman of Geneva Woods commented.
“The healthcare system is rapidly changing and we have a vision for how to improve pharmacy and related health services especially in smaller, more rural markets. Geneva Woods is dedicated to helping to keep patients healthy in their preferred residential setting, leading to better outcomes and lower expenses,” Dan Afrasiabi, President and CEO of Geneva Woods, added. “With this financing, we will have the resources to accelerate our acquisitions and organic growth, with a focus on best practices, compliance and technology adoption.”
About Geneva Woods Pharmacy, Inc.:
Geneva Woods Pharmacy, Inc. (GWP) is the leading provider of comprehensive pharmacy (Home, Long-Term Care, Specialty, Infusion, Compounding and Retail), supplies, equipment, and respiratory services in Alaska, Washington, Oregon, Idaho, Montana and Wyoming, among others. GWP’s clinical services lead to better outcomes, lower costs and happier clients who can spend more time in their chosen home settings. To learn more, please visit http://www.genevawoods.com.
About Chugach Alaska Corporation:
Established in 1972 under the Alaska Native Claims Settlement Act (ANCSA), Chugach Alaska Corporation exists to serve the interests of the Alaska Native people of the Chugach region through profitability, celebration of our heritage and ownership of our lands. We represent more than 2,500 Aleut, Eskimo and Indian shareholders, and we work to provide opportunities through responsible management of our lands, businesses and assets. Chugach strives to fulfill its mission through investments and operational businesses that provide wide-ranging services for federal and commercial clients including facilities management and maintenance, construction, technical and IT, oil and gas, education and healthcare services. Learn more at http://www.chugach.com.
Geneva Woods Pharmacy, Inc.
Dan Afrasiabi, President
Geneva Woods Pharmacy, Inc.
M: (714) 269 -7579 O: (907) 565-6107
Randi Jo Gause
Senior Corporate Communications Manager
Chugach Alaska Corporation
P (907) 563-8866 |C (907) 301-8886
D (907) 261-0348 |F (907) 563-8402