Case Study: Medmark, Inc.
- 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.