Comprehensive Pharmacy Services, a leading provider of enterprise pharmacy solutions to hospitals and health systems, announced today its sale to Frazier Healthcare Partners.
The Company’s partnership with Frazier will allow CPS to continue to expand its capabilities and solution suite and provide differentiated access to potential business partners and customers. This combination makes Frazier the ideal partner to support CPS’s continued penetration into a growing market.
“Frazier is very pleased to have led this significant investment in CPS,” said Ben Magnano, Frazier General Partner. “We see this particular sector as having considerable headroom for growth as hospitals and health systems look for ways to better manage drug costs, solve pharmacy staffing challenges, and improve patient care. CPS is a leader in providing inpatient and outpatient pharmacy management services and we are delighted to be partnering with them. This new investment for Frazier continues to leverage a long-standing thesis we have held with regard to opportunities around hospital outsourcing.”
Don Nickleson, former Chairman of CPS, will serve on the Board of Directors as an observer going forward. Mr. Nickleson commented, “We are thrilled to partner with Frazier as it will enable CPS to deliver our industry-leading services across a significantly broader client base and further invest into our growing outpatient specialty pharmacy management offering. The entire team is excited to begin this new chapter as we focus on expansion and growth while creating enhanced services for our valued clients and exciting opportunities for our talented employees.”
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The transaction closed at the beginning of March 2019.
Date: April 22, 2019
Source: Valdosta Daily Times