Whittier Goodrich Pharmacy's Acquisition by Allion

Transaction

• Whittier Goodrich Pharmacy (“Whittier”) is a leading Southern California specialty pharmacy focused on HIV/AIDS patients
• The owner wanted to receive some liquidity either from a strategic partner or an equity sponsor

Challenges

• Hurdles in consummating a transaction included:
  • A changing regulatory landscape brought increased uncertainty to patient reimbursement issues
  • After building a state of the art facility, management needed further resources to expand its marketing activities and diversify its specialty therapy offerings into additional disease states

Solution

• FocalPoint contacted a selected group of strategic and financial purchasers and managed to secure multiple offers for the business and a wide range of alternatives for the management team, including:
  • Control and minority recapitalizations with private equity groups
  • 100% acquisitions by strategic buyers
• The Owner decided to sell 100% of the company to Allion Healthcare, Inc., a specialty pharmacy and disease management services focused on HIV/AIDS patients
  • Other parties contacted included Longs, Walgreens, McKesson, ABC, Bioscrip, and CVS
• FocalPoint’s ability to penetrate the strategic buyers enabled management to choose from a number of attractive alternatives and make the decision that most appropriately suited their risk tolerance while maximizing value