Wedgewood Pharmacy has acquired Front Range Laboratories (FRL) in Loveland, CO, which is a full-service testing laboratory that has been a trusted partner of compounding pharmacies for more than 25 years. The transaction closed on February 23; terms were not disclosed. Excel Partners served as financial advisor to Wedgewood Pharmacy.
FRL provides analytical and microbiological testing as well as product stability and other services to support the testing needs of pharmacies across the country. FRL was founded by Michael Travis and Jennifer Travis, who will remain with the business and be part of the Wedgewood Pharmacy organization. Wedgewood Pharmacy plans to maintain the FRL brand, which is respected throughout the compounding pharmacy profession as a high-quality service provider.
Marcy A. Bliss, CEO of Wedgewood Pharmacy said: “Wedgewood Pharmacy and Wedgewood Connect, our 503B outsourcing facility, are significant clients of Front Range Laboratories. As we expand our reach in different sectors of compounding pharmacy, upcoming regulatory changes will increase demand across our companies for sterility and stability testing. By investing in a proven, high-quality in-house testing laboratory, we will be able to decrease testing turnaround time, better control our costs, and gain greater flexibility to respond rapidly to changes in demand. We will, of course, continue to do business with other specialized, high-quality testing laboratories. All of these will provide direct benefit to the more than 72,000 veterinarians in 29,000 practices we serve and their customers.”
Michael Travis added: “We’re in a strong position to contribute to Wedgewood Pharmacy’s rapid growth, as we have the immediate capacity to triple or quadruple the testing volume we can serve. We have proven to be a trusted partner to numerous compounding pharmacies, and we will continue to serve their needs as well. Wedgewood Pharmacy’s growth in animal health continues to outpace the industry. We expect that its investments will fuel our growth, in volume, capabilities, and staff.”
Want to publish your own articles on DistilINFO Publications?
Send us an email, we will get in touch with you.
Source: Biospace
