White Oak Healthcare Finance acted as sole lender and administrative agent on the funding of a $20.65 million senior credit facility to finance the acquisition of Total Care Rx by private equity firm Celerity Partners.
Total Care Rx provides specialty, transplant and long term care pharmacy services to more than 4,000 patients in New York. It is one of the largest organ transplant pharmacies in New York, dispensing medication to more than 1,000 unique transplant patients.
“Total Care’s focus on chronic care and the transplant market is critical,” said Ross Eldridge, White Oak’s managing director. “It is vital that patients follow all medication regimens following a transplant and we are very excited to partner with a company that is setting a new standard for personalizing a pharmacy.”
Total Care serves as an extension of a patient’s medical team to monitor medication compliance, provide education and other value-added services not offered by retail pharmacies. Total Care filled more than 366,000 prescriptions in 2017, including wholesale generic and branded drugs. The company provides same-day deliveries within 50 miles of its location for more than 90% of its prescriptions.
“We are pleased to be partnering with White Oak to leverage Total Care’s outstanding market reputation and customer service and build a substantially larger business,” said Celerity Partners’ Matt Kraus.
