Private equity-backed AxelaCare Health Solutions has acquired SCP Specialty Infusion for an undisclosed amount.
SCP is the parent company of home-based infusion service Sirona Infusion Inc., as well as Access IV, HomeCare IV and Infusource. The companies provide services to patients who have been discharged from hospitals and need to receive antibiotics, hydration, antiemetic, nutrition and other intravenous therapies at their homes.
The deal doubles AxelaCare’s number of pharmacies. The Lenexa, Kan.-based company has pharmacies in Arizona, California, Colorado, Kansas, Louisiana, Maryland, New Mexico, Oklahoma, Oregon, Pennsylvania, with branches scheduled to open in Nebraska and New England.
AxelaCare is backed by New York private equity firm Harvest Partners LP. Harvest is currently invested in Driven Brands Inc., DTI Inc. and Garretson Resolution Group.
SCP was backed by Shore Capital Partners, a Chicago-based health care-focused private equity firm. For the firm, the deal provided a 4x return, or 67 percent internal rate of return (IRR).
The deal follows other home-care deals, including Kindred Healthcare Inc.’s (NYSE: KND) purchase of Senior Home Care Inc.
Bass Berry & Sims PLC provided legal counsel to SCP on the deal.