Provides Capital Infusion for Accelerated Expansion in Changing Market
NEW YORK--(BUSINESS WIRE)-- Blue Wolf Capital Partners LLC, the New York-based private equity firm, today announced that Blue Wolf Capital Fund II, L.P. ("Blue Wolf”), through an affiliate, has made a growth capital investment in Pharmaceutical Strategies Group, LLC (“PSG”), the largest independent pharmacy benefits consulting firm in the U.S. Terms of the transaction were not disclosed.
The pharmaceutical marketplace continues to grow in complexity and cost, presenting a significant challenge to payers. PSG has developed into a leading provider of high value services to help payers and providers successfully navigate this space. Blue Wolf's investment provides PSG with growth capital to address this rapidly expanding market and make accretive acquisitions. The Company's management team, led by CEO Dave Borden, continues to have a significant equity stake in the Company.
Blue Wolf Partner Charlie Miller said, "We are excited to become PSG's partner. Due to the many complexities associated with the pharmaceutical supply chain, unions, hospitals, health plans and self-funded employers are increasingly relying on partners to streamline and reduce overall prescription drug spending and improve health management. PSG has emerged as a premier provider of these consulting services and its veteran management team has developed a strong platform for growth and acquisitions.”
CEO Dave Borden added, "We look forward to the flexibility and opportunity that working with Blue Wolf will bring to our organization. We are poised for significant growth and believe we have quality people and the tools to execute on our strategy with the help of Blue Wolf's financial and strategic resources. We are very pleased to be able to partner with Blue Wolf to take our organization to the next level.”
About Pharmaceutical Strategies Group
Pharmaceutical Strategies Group (www.psgconsults.com) assists plan sponsors and other payers in designing, implementing, and managing programs that maximize the value of pharmaceuticals in their population. The strategies employed by PSG consultants allow plan sponsors to gain control over their pharmacy benefit spend, facilitate population health management, and position their program to successfully negotiate the pharmacy benefit challenges of the future.
About Blue Wolf Capital Partners
Blue Wolf Capital Partners LLC is a private equity firm that invests in companies in which effective management of relationships with complex constituencies, such as government and labor, can change organizations and create value. For additional information, please visit www.blue-wolf.com.
CONTACT:
Owen Blicksilver Public Relations, Inc.
Caroline Luz, 203-656-2829
[email protected]
KEYWORDS: United States North America New York
INDUSTRY KEYWORDS: Practice Management Health Hospitals Pharmaceutical Professional Services Banking Finance Managed Care
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