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WindRose Health Investors LLC, a New York-based healthcare private equity firm, has purchased Bank’s Apothecary.
Headquartered in Annapolis, Md., Bank’s services provide distribution services and medication adherence services primarily to patients suffering from severe and persistent mental illness. Bank’s, through a merger with Terrapin Pharmacy and Ganse Apothecary, expands WindRose’s behavioral health service footprint. With the addition of Bank’s, the combined company will now serve over 22,000 patients across 23 states through seven closed-door pharmacies.
“The combination of Terrapin, Ganse and Bank’s creates a differentiated player in the behavioral health pharmacy space and a strong platform on which to build,” comments Eric Elliott, chief executive officer of the combined company. “It will be rewarding to further the growth and, most importantly, reach more patients with services that can make a huge difference in their lives.”
Westcove Partners acted as financial advisor to Bank’s. Latham & Watkins LLP acted as legal advisor to WindRose, and Epstein Becker & Green acted as legal advisor to Bank’s.
