Welsh, Carson, Anderson & Stowe, a private equity firm focused exclusively on the healthcare and technology industries, has acquired a majority ownership stake in Leiters.
Leiters is a provider of high-quality compounded sterile preparations across the continuum of healthcare to hospitals, surgery centers and physician offices. In addition, Leiters is registered with the FDA as a 503B outsourcer. The firm has gone through transformation through a new management team, completion of its automated sterile pharmaceutical manufacturing facility and broadening its product portfolio. Leiters is committed to providing healthcare professionals and their patients with critically needed outsourced medications.
WCAS acquired its equity position from Leiters’ existing investor group which includes partners Kaiser Permanente Ventures and Mayo Clinic and financial sponsors Frazier Healthcare Partners, SV Health Investors and H.I.G. BioHealth Partners. After the purchase, the exiting investors made reinvestments back into the company. Going forward, its health system investors will participate in an advisory committee to support growth.
“We are very excited about our investment in Leiters,” said Nick O’Leary, general partner at WCAS. “The Company is a leader in 503B outsourcing and is recognized as having one of the highest-quality operations in the industry, where quality and patient safety are paramount.”
Cantor Fitzgerald & Co. served as financial advisor to Leiters in connection with the transaction.