Revelation Pharma Corporation Completes Twelfth Acquisition – Purchasing Harrow’s Non-Ophthalmic Compounding Division
TAMPA, Fla., – Osceola Capital (“Osceola”), a lower middle-market private-equity firm, announced today the twelfth addition to the Revelation Pharma Corporation (“Revelation”) platform by purchasing NASDAQ-listed, Harrow Health’s non-ophthalmic compounding business. Harrow will continue to concentrate solely on medications for ophthalmic care.
The acquisition of Harrow’s non-ophthalmic compounding division reflects Revelation’s ongoing desire to acquire and expand a national footprint of 503A and 503B compounding pharmacies. Compounded medications are created and prepared by specially trained pharmacists and pharmacy technicians in state-regulated pharmacies when mass-manufactured drugs are not, according to a prescriber, available or inappropriate for a patient. “We’re excited that Harrow selected Revelation to continue to acquire and grow the non-ophthalmic product line. The Revelation Pharmacy network is well versed in the compounding of these preparations, and so we expect a smooth transition that will not disrupt patient access to these important medications,” said CEO Shawn Hodges.
The corporate team for Revelation is led by Pharmacist Shawn Hodges, the former CEO and President of Innovation Compounding, now current CEO of Revelation. Serving as Chairman of the Board, Pharmacist Jake Beckel, has deep experience in the compounding space. He most recently served as founder and CEO of AnazaoHealth Corporation, a leading compounding pharmacy that successfully completed 13 acquisitions and ultimately was acquired by Fagron, the world’s largest publicly traded compounding company. Richard Case serves as President M&A; he is a healthcare M&A industry veteran and has significant experience in the acquisitions of healthcare businesses that operate in highly regulated industries. Jake Beckel and Richard Case, the founders of Revelation, who sit on the board of directors, will solely focus on helping new companies that wish to join Revelation. Mitchell Bell PharmD., is the Senior Vice President of 503A Pharmacies and was previously the Vice President of Operations at Innovation Compounding. Will Skinner is the Chief Financial Officer who has specialized in start-ups, alternative investment companies, and healthcare organizations. Jon Pritchett PharmD., former Pharmacy Program Director at Accreditation Commission for Health Care (ACHC), now serves as the Vice President of Quality Assurance and Regulatory Affairs.
The number of pharmacy collaborations in the pipeline is steadily growing. Even though pharmacy owners recognize the need for assistance in responding to regulatory changes, they still want to conduct pharmacy compounding and service their patients’ unique healthcare needs. Revelation’s long-term vision is to become the industry leader in compounding by supporting and acquiring pharmacies while establishing a comprehensive quality-assurance system throughout the whole network.
About Osceola Capital Management
Osceola Capital is a Tampa-based private-equity firm that invests in lower middle-market services companies, typically with EBITDA of $2 million to $10 million. Osceola has extensive experience partnering with management teams to execute buy-and-build strategies and drive long-term value creation. The Revelation Strategy Team includes Ben Moe, and Patrick Watkins. To learn more, visit www.osceola.com.
About Revelation Pharma Corporation
Revelation Pharma is a national network of 503A and 503B compounding pharmacies providing innovative and quality pharmaceutical products and services through “industry best” patient care and solutions for customers. Compounding pharmacy will drastically change in the next five years. Revelation’s belief is that compounding pharmacies will need help and support to adjust to these changes in order to continue to serve the needs of the patient and their healthcare provider. For more information about Revelation Pharma visit www.revcustomrx.com.
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