SSG Capital Advisors acted as investment banker to Restore Holdings on the sale of substantially all of the assets of Restore Health Pharmacy (RH), TCS Labs (TCS) and Belvidere Labs (Belvidere) in separate transactions to strategic parties.

RH, TCS and Belvidere are full-service wellness solution providers dedicated to the custom preparation of individualized, compounded medications. The company possesses approximately 10,000 unique compounded pharmaceutical formulation recipes.

In response to declining revenue due to increased regulatory oversight and pressure on insurance reimbursement for compounding pharmacies as well as integration issues from acquisitions, Restore Health subsequently closed its Madison, WI headquarters and pharmacy, while continuing to operate the St. Petersburg, FL and Highland Park, NJ facilities.

The company filed for protection under Chapter 11 in the Western District of Wisconsin and retained SSG as its exclusive investment banker to conduct a sale of its assets. SSG conducted a comprehensive marketing process and determined that the sale of RH assets to Pharmacy Solutions and TCS and Belvidere pharmacies to Pharmacy Innovations would ultimately generate the highest value for the company’s stakeholders.

Pharmacy Solutions is a specialty pharmacy service provider that specializes in the art of compounded medications and specialty medications and vitamins. Pharmacy Innovations specializes in preparing custom compounded medications in accordance with physician prescriptions. SSG’s knowledge of the compounding industry enabled key stakeholders to maximize value by engaging with strategic parties able to preserve therapies and serve patients.