Pentec Health Inc., a nationwide leader in providing patient-specific compounded sterile medications and complex in-home clinical services, announced today that Matthew Deans would lead the company as President and Chief Executive Officer, effective April 10. In addition, Deans will join Pentec's Board of Directors. Deans succeeds Paul Mastrapa, who continues as Pentec Health's Executive Board Chairman. Deans has served as the company's Chief Strategy Officer since January 2022, leveraging more than 20 years of leadership experience in the healthcare industry's commercial functions, operations, business and corporate development, and pharmaceutical supply chain and procurement.
GLEN MILLS, Pa., April 10, 2023 /PRNewswire-PRWeb/ -- Pentec Health Inc., a nationwide leader in providing patient-specific compounded sterile medications and complex in-home clinical services, announced today that Matthew Deans would lead the company as President and Chief Executive Officer, effective April 10. In addition, Deans will join Pentec's Board of Directors. Deans succeeds Paul Mastrapa, who continues as Pentec Health's Executive Board Chairman. Deans has served as the company's Chief Strategy Officer since January 2022, leveraging more than 20 years of leadership experience in the healthcare industry's commercial functions, operations, business and corporate development, and pharmaceutical supply chain and procurement.
"I have closely followed and admired Pentec Health since 2012 and was thrilled to partner with Wellspring Capital in 2021 to invest in the company," said Mastrapa. "Since the acquisition, we have invested in talent and capabilities to accelerate growth and expand into new therapies. Pentec is extremely fortunate to recruit a leader of Matt Deans' caliber and vision. Since joining us last year, he has led the charge in defining Pentec's long-term vision and quickly accelerating our growth. Matt is the perfect choice to take Pentec Health into a growing future."
"I'm extremely enthusiastic about taking on this role at this moment in Pentec's history," said Matthew Deans, Pentec Health's new President and CEO. "Pentec's combination of empathy, superior technical expertise, and close collaboration with patients, caregivers, and healthcare professionals deliver the personalized solutions and long-term successful relationships every patient deserves. Our services are growing in both volume and complexity, and our company has the unique combination of dedicated people and technical capabilities to meet those needs. Our team has articulated a clear and compelling vision for our future, and I'm honored and excited to lead us there."
Before joining Pentec, Matt was Senior Vice President of Business Development for Option Care Health. At Option Care Health, he led product and service development across pharmaceutical manufacturers, health plans, healthcare systems, and providers. He also managed the company's high-risk obstetrical home care and network management businesses and supervised trade relations and supply chain functions covering $2B+ of annual pharmaceutical spending. In 2015, Matt was part of the management team that led the sale and carve-out of Walgreens Infusion Services to Madison Dearborn Partners, as well as completing a merger with BioScrip in 2019 to form Option Care Health.
About Pentec Health
For almost 40 years, Pentec Health has been an industry leader in providing patient-specific, compounded sterile medications. Pentec Health's formulations are used for administration in dialysis centers and provide in-home Targeted Drug Delivery through nursing services and complex pharmaceutical products to patients who require access outside of a hospital setting. Pentec Health has built a tradition of exceptional patient care by committing to quality, safety, and innovation. We aim to be the provider of choice for outsourced products, sterile preparations, and services in the healthcare marketplace. For more information, please visit http://www.pentechealth.com.
About Wellspring Capital Management
Wellspring Capital Management is a leading private equity firm headquartered in New York. Since its founding in 1995, Wellspring has raised over $4.5 billion of initial capital commitments through six private equity funds. In total, Wellspring's current portfolio companies employ nearly 60,000 people around the world, generating more than $4B annually. Over the past 25 years, Wellspring has invested in over 45 platform investments across various segments of the U.S. and global economies. Wellspring brings partnership, experience, and value creation to every investment. By teaming with visionary management, Wellspring unlocks underlying value and helps companies pursue new growth opportunities through strategic initiatives, operational improvements, and add-on acquisitions. The firm is a strategic partner, providing management teams with top-line support, M&A experience, financial expertise, and resource access. For additional information, please visit http://www.wellspringcapital.com.
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Media Contact
Jeremy Krick, Pentec Health, 610-494-8700, [email protected]
SOURCE Pentec Health
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