CHICAGO, March 5, 2024 /PRNewswire-PRWeb/ -- Ziegler, a specialty investment bank, is pleased to announce it served as the exclusive financial advisor in the acquisition of Automated Healthcare Solutions (AHCS) by AdvancedRx Management (AdvancedRx), two leading pharmacy distribution platforms.
Founded in 2009 and headquartered in Tampa, Florida, AdvancedRx is a vertically integrated pharmacy services platform, serving physician offices' full spectrum of pharmacy needs including mail order pharmacy, wholesale and repackaging services, and management services for in-office dispensing. ARX also offers pharmaceutical manufacturers hub pharmacy services with a focus on specialty products and new-to-market therapeutics.
Founded in 1997, AHCS was created by physicians who recognized the benefits of in-office dispensing. AHCS developed proprietary billing and collections software, ezDispense, which drives industry-leading collection rates through superior technology, processes, and payor relationships.
AHCS also developed ezVerify, which has been established as a separate entity by Dr. Gerald Glass, the co-founder and former CEO of AHCS. Dr. Glass will continue to own and lead ezVerify.
The companies developed a strategic alliance in the first quarter of 2023, and this transaction will make the alliance permanent. Clients of both platforms will enjoy expanded offerings as the complementary aspects of both businesses are combined to solidify AdvancedRx's top position in the pharmacy services market.
"The synergies of combining AdvancedRx and AHCS are truly remarkable," stated Jeff Azevedo, founder and CEO of Advanced Rx. "Adding the ezDispense technology platform to our vertically integrated offering will allow us to better serve our physician partners and their patients."
Patrick Walsh, Managing Director in Ziegler's Healthcare Investment Banking Practice stated, "We are honored to have facilitated this combination and are excited about the growth prospects of this exciting new platform."
"Ziegler was the ideal partner to advise on this transaction because of their deep knowledge of the healthcare industry," added Dr. Glass. "Their guidance, support and creativity led to the successful consummation of this transaction."
Terms of the transaction were not disclosed.
The Ziegler team members involved in this transaction were led by Patrick Walsh, with support from Peter Anderson.
Ziegler's Healthcare Investment Banking team is focused on delivering best-in-class advisory and financing solutions for companies and organizations across the healthcare industry. In our core practice areas of healthcare services, information technology, hospitals, and senior living, Ziegler is one of the most active M&A firms offering differentiated sell-side, buy-side, recapitalization / restructuring, equity private placement, and strategic partnering services.
For more information about Ziegler, please visit us at http://www.ziegler.com.
About Ziegler:
Ziegler is a privately held investment bank, capital markets and proprietary investments firm. Specializing in the healthcare, senior living and education sectors, as well as general municipal and structured finance, enables Ziegler to generate a positive impact on the clients and communities it serves. Headquartered in Chicago with regional and branch offices throughout the United States, Ziegler provides its clients with capital raising, strategic advisory services, equity and fixed income sales & trading and research. To learn more, visit http://www.ziegler.com.
Certain comments in this news release represent forward-looking statements made pursuant to the provisions of the Private Securities Litigation Reform Act of 1995. This client's experience may not be representative of the experience of other clients, nor is it indicative of future performance or success. The forward-looking statements are subject to a number of risks and uncertainties, in particular, the overall financial health of the securities industry, the strength of the healthcare sector of the U.S. economy and the municipal securities marketplace, the ability of the Company to underwrite and distribute securities, the market value of mutual fund portfolios and separate account portfolios advised by the Company, the volume of sales by its retail brokers, the outcome of pending litigation, and the ability to attract and retain qualified employees.
Media Contact
Christine McCarty, Ziegler, 3125961617, [email protected], www.ziegler.com
SOURCE Ziegler
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