M&A Healthcare Advisors Successfully Facilitates Sale of Greater Boston Long Term Care Pharmacy to Leading Provider
M&A Healthcare Advisors Executes Strategic Sale in Pharmacy Sector
In a significant step for the healthcare industry, M&A Healthcare Advisors (MAHA), a boutique investment bank focused on healthcare transactions, has successfully facilitated the sale of Greater Boston Long Term Care Pharmacy (GBLTCP) to Tarrytown Expocare Pharmacy, a prominent provider specializing in services for individuals with Intellectual Developmental Disabilities (IDD) and behavioral health. The transaction, completed during the fourth quarter of 2024, marks a key achievement for MAHA as it was their inaugural deal since becoming registered agents with a broker-dealer in July 2024.
About the Companies Involved
Greater Boston Long Term Care Pharmacy has established itself as a leading provider of pharmacy services, particularly to community-based group homes and assisted living facilities throughout Massachusetts. Under the guidance of CEO Mike Wessenberg, GBLTCP has built a reputation for delivering high-quality pharmacy services tailored to meet the needs of vulnerable populations.
Tarrytown Expocare, on the other hand, boasts a national presence, operating in 31 states and offering dedicated pharmacy services focused on IDD and behavioral health. This acquisition is expected to enhance Tarrytown’s capacity to provide critical pharmacy solutions and care across a diverse range of facilities.
The Role of MAHA
MAHA took on the role of exclusive sell-side advisor for this transaction. Led by Managing Director Mike Moran and Senior Associate Mike Abud, the team worked closely with GBLTCP throughout the entire process. Moran expressed pride in the collaborative efforts of both teams. “Working alongside the Greater Boston Long Term Care Pharmacy team was a privilege,” he stated. “This sale reflects our ability to connect clients with buyers who share their values and commitment to quality care.”
Wessenberg echoed this sentiment, praising MAHA’s thoroughness and dedication during the complicated selling process. He noted, "Mike and his team were incredibly supportive throughout the entirety of the process and worked tirelessly to facilitate a successful transition."
Navigating Complex Healthcare Regulations
The acquisition process was not without its challenges. The healthcare M&A landscape is known for its complexity, often requiring multiple layers of regulatory approvals and thorough coordination between various stakeholders. Through continuous communication and support, MAHA successfully bridged potential gaps between the leadership teams of GBLTCP and Tarrytown Expocare, ensuring a seamless transition.
MAHA’s commitment to cultivating strong relationships and facilitating dialogue played a pivotal role in aligning the two organizations, ultimately leading to a harmonious transaction that benefitted all parties involved.
Looking Ahead
With the completion of this sale, both companies are poised to leverage each other’s strengths. For Tarrytown Expocare, acquiring GBLTCP not only expands their service offerings but also reinforces their mission of delivering excellent care to those who need it most. Conversely, GBLTCP benefits from the expanded resources and expertise of a nationally recognized provider, enhancing their service capabilities in Massachusetts.
About MAHA
M&A Healthcare Advisors is dedicated to providing comprehensive merger and acquisition advisory services tailored for the lower-middle market in the healthcare sector. With a focus on sectors like behavioral health, hospice care, and various pharmacy services, MAHA has built a strong reputation for facilitating critical transactions within the healthcare landscape. The firm’s full suite of services includes sell-side representation, hourly consulting, expert valuations, and other investment banking services designed to meet the unique needs of healthcare businesses.
Conclusion
This recent sale underscores MAHA's expertise in navigating complex deals within the healthcare sector, marking a milestone not only for their firm but also for the future of pharmacy services in the region. As healthcare continues to evolve, MAHA stands ready to assist businesses in achieving their goals through strategic transactions.