Vesey Street Capital Partners, LLC, a New York-based healthcare services private equity firm, announced that funds managed by VSCP have completed a recapitalization of Safecor Health. The Company is the market leader of pharmaceutical unit dose packaging services for hospitals and health systems and provides unit dose packaging services to pharmaceutical manufacturers and digital pharmacy companies. Terms of the transaction were not disclosed.
"Vesey Street Capital Partners is both excited and honored to be partnering with Steve Fischbach, Ryan O'Dell, and the rest of the management team at Safecor Health to help support and enable its next phase of growth. Not only are we enthused about its existing and future internal growth plans, but we also view the Company's footprint as an excellent vehicle to expand via add-on acquisitions," said Adam Feinstein, Managing Partner of VSCP.
VSCP and affiliates contributed the equity for the transaction. JP Morgan Chase Bank, N.A. provided debt financing to support the transaction, and Kirkland & Ellis served as legal counsel to VSCP. Chabria Advisory LLC served as financial advisor and Barack Ferrazzano Kirschbaum & Nagelberg LLP served as legal counsel to Safecor.