St. Cloud Capital Announces Investment In AleraCare
LOS ANGELES, May 8, 2019 /PRNewswire/ -- St. Cloud Capital is pleased to announce a growth capital investment in AleraCare Holdings, LLC ("AleraCare"), a leading provider of both home and community-based healthcare and pharmacy services for high-need and medically complex populations.
AleraCare is the combination of three healthcare companies: MedicoRx Specialty Pharmacy, Vasco Infusion, and VascoRx Specialty Pharmacy. MedicoRx Specialty Pharmacy is a specialty and home infusion pharmacy servicing the California market. Vasco Infusion is a physician healthcare practice with several ambulatory infusion centers throughout Arizona and Northern California markets, while VascoRx is a specialty and compounding pharmacy holding licenses in all 50 states. As AleraCare, it will be able to provide a full spectrum of specialty pharmaceutical services to its current managed care partners, manufacturers, patients, and physicians as well as increase its presence and provide greater access to its services throughout the western United States.
St. Cloud's investment, in conjunction with a new ABL facility, was used to refinance existing senior debt as well as fund numerous capital investment initiatives.
"This merger marks the start of a new and exciting chapter for AleraCare. We look forward to our partnership with the team on the combined company's next phase of growth and development towards delivering superior value-based care," stated Ben Hom, Managing Partner of St. Cloud Capital.
"This merger will strengthen our position as a healthcare services provider. The combination of the strengths of individual companies will create a leading physician healthcare and specialty pharmacy practice providing our patients and partners an unparalleled access to care, lower costs and improved outcomes," said Russ Corvese, Chief Executive Officer of AleraCare.
For more information about AleraCare, please visit: http://www.aleracare.com.
For more information about St. Cloud Capital, please visit http://www.stcloudcapital.com.
Contact: Matt Smith, firstname.lastname@example.org
SOURCE St. Cloud Capital