WindRose Health Investors announced it has completed the sale of Altruix to Frazier Healthcare Partners. Financial terms of the transaction were not disclosed.
Headquartered in Hunt Valley, Altruix is a behavioral health pharmacy platform serving patients with severe mental illness, substance use disorders, and intellectual and developmental disabilities. WindRose originally invested in the company, then operating as Terrapin Pharmacy, in December 2021.
During WindRose’s ownership, Altruix expanded its geographic reach, enhanced its omnichannel service capabilities, strengthened partnerships with pharmaceutical companies and payors, and built out its leadership team. The company currently serves more than 32,000 patients each month through 17 pharmacies across the Mid-Atlantic region.
Altruix provides pharmacy services, care coordination, and access to specialty and limited-distribution drugs aimed at improving outcomes and lowering costs for patients, payors, providers, and pharmaceutical partners.
Houlihan Lokey and Cantor Fitzgerald served as financial advisors to WindRose, while Latham & Watkins LLP acted as legal advisor. Goodwin Procter LLP served as legal advisor to Frazier Healthcare Partners.
WindRose Health Investors is a New York-based healthcare private equity firm focused on technology-enabled healthcare services companies. The firm manages approximately $7 billion in assets and invests in profitable healthcare businesses across the United States.
KEY QUOTES:
“We are proud to have partnered with the Altruix management team to support their mission of improving medication access and adherence for some of the most vulnerable and underserved patient populations in the country. Over the course of our partnership, the Company expanded its geographic footprint, deepened its omnichannel service capabilities, strengthened key pharma and payor partnerships, and built a best-in-class leadership team. We look forward to watching Altruix reach even more patients in its next chapter.”
CJ Burnes, Partner, WindRose Health Investors
“WindRose has been an outstanding partner throughout our journey together, and we are deeply grateful for their partnership, commitment, and strategic guidance in building the premier behavioral pharmacy in the country. With WindRose’s support, we have grown from a regional behavioral pharmacy into a technology-enabled, market-leading platform delivering life-changing care to tens of thousands of patients living with complex behavioral health conditions. We are thrilled to begin this next chapter to further expand our reach and deepen our impact for every patient and provider who depends on us.”
Greg Ganse, Chief Executive Officer, Altruix