Wellspring Capital Management, a private equity firm headquartered in New York, has acquired Pentec Health Inc., a nationwide supplier of patient-specific sterile compounding.
Naishadh Lalwani, a partner at Wellspring, commented, “Pentec has a long history of delivering the highest quality clinical outcomes to individuals with chronic conditions in their homes and outpatient settings. The company’s mission aligns very well with our healthcare investing effort, which seeks to increase access to high-quality care in more convenient and cost-effective settings and provide differentiated solutions to patients and payors alike. We are thrilled to partner with the entire Pentec management team.”
Alexander Carles, co-president of Wellspring Capital, added, “Working with Joe Cosgrove and the outstanding management team at Pentec has been a true pleasure. We commend the company’s market-leading solutions in both intradialytic parenteral nutrition and targeted drug delivery therapies and are deeply committed to supporting Pentec through its next phase of growth and innovation. Helping companies help people is the thrust of Wellspring’s entire healthcare strategy. This investment embodies that.”
Joseph Cosgrove, Pentec’s chairman, president, and chief executive officer, said, “I am delighted to announce our new investment partnership with Wellspring Capital. Wellspring has demonstrated its healthcare investment mastery for many years, and the confidence that Alex, Nash, and the team at Wellspring has placed in Pentec is both an affirmation of our strategy and an acknowledgment that we have one of the most dynamic national home infusion platforms, led by an extraordinarily talented management team.”
Financing for this transaction was provided by Twinbrook Capital Partners and McDermott Will & Emery LLP served as legal counsel to Wellspring Capital. Houlihan Lokey served as financial advisor, and Morgan, Lewis & Bockius LLP served as legal counsel to Pentec Health with respect to the transaction.