Medmark Inc. (“Medmark” or “the Company”) was created to provide end-to-end solutions for the distribution and compliance of specialty pharmaceutical drugs.
We were retained as exclusive financial advisor to secure financing for Medmark, as well as to seek a platform acquisition target in the specialty pharmaceutical space.
The Company’s strategy was to purchase drugs at wholesale from the manufacturer and sell them to health plans at a discount in exchange for exclusive distribution rights to that particular health plan.
Additionally, the Company worked with its customer (Highmark) to reconfigure the process in order to eliminate the buy-build practice in its provider network.
We successfully obtained $50 million of equity financing from Highmark for the acquisition of Fisher’s SPS.
Due to ERISA compliance standards limiting Highmark’s involvement, we had to solicit qualified investors. LLR Partners and Quaker BioVentures were selected to invest in the Company.
Medmark Inc. was subsequently sold to Walgreen Co.
