TA Associates Announces Investment in Healix
BOSTON and SUGAR LAND, Texas, December 18, 2017 – TA Associates, a leading global growth private equity firm, today announced that it has completed a strategic growth investment in Healix, a provider of outsourced alternate-site infusion therapy management services. Financial terms of the transaction were not disclosed.
Founded in 1989 by Alan Chaveleh and Mort Baharloo, Healix is a leading provider of infusion therapy management services and compounded intravenous pharmaceuticals for physician practices and hospitals. The company manages office infusion centers on behalf of physicians, hospitals and medical institutions, supporting outpatient treatment for optimal patient comfort and care. Healix also offers central pharmacy services, with patient-specific compounding from a 503A licensed pharmacy facility.
In conjunction with TA’s investment, Healix is announcing two important management changes as the founders retire. Brit Pim has joined Healix as the company’s new Chief Executive Officer. Mr. Pim most recently served as President for the Government Programs Division of Express Scripts. Prior to his 12 years with Express Scripts, he spent nearly a decade as a healthcare consultant with Ernst & Young. Additionally, Mark Winters, Healix’s current Chief Operating Officer, has been promoted to President. Mr. Winters joined Healix in 1990, and will bring to bear his decades of experience to continue to support Healix’s customers and partners.
“We believe Healix has become a leader in the outsourced infusion therapy industry as a result of the company’s commitment to supporting its physician clients in their delivery of best-in-class patient care,” said Emily C. McGinty, a Senior Vice President at TA Associates who will join the company’s Board of Directors. “We are excited to partner with Healix to help support the expansion of the company’s footprint as demand for high quality alternate-site infusion therapy services continues to grow in existing and new medical specialties.”
“Since our founding, we have strived to deliver superior infusion therapy services that allow healthcare providers to accomplish their goal of providing high-quality patient care in comfortable and convenient settings,” said Mort Baharloo, Co-founder of Healix.
Alan Chaveleh, Co-founder of Healix, added, “TA Associates has a history of collaborating with healthcare companies to drive sustained growth. We believe having the ability to bring on board a talented executive such as Brit to partner with the management team will help propel the next phase of the company’s growth. We are honored to welcome TA as an investor in Healix.”
“I am thrilled to join Healix and serve as the leader of a company that has the opportunity to continue to change and improve the overall patient treatment experience in infusion therapy,” said Brit Pim, newly appointed Chief Executive Officer of Healix. “I am excited to help play a key role in continuing Healix’s momentum during this next chapter and look forward to a successful future with our entire team of dedicated and knowledgeable employees.”
“We believe our partnership with TA will enable Healix to continue to innovate in infusion therapy,” said Mark Winters, Healix’s newly promoted President. “We are excited to continue to work with our payor and pharmaceutical manufacturer partners to support our physician clients.”
“Healix has demonstrated a unique ability to align stakeholders across the healthcare landscape by offering cost effective services that support outstanding patient care and increasing efficiency,” said Jennifer M. Mulloy, a Managing Director at TA Associates who will also join the company’s Board of Directors. “We are thrilled to begin working collaboratively with Healix’s entire team to help the company capitalize on its strategy and accelerate growth.”
Kirkland & Ellis and Epstein Becker & Green provided legal counsel and Deloitte & Touche served as financial advisor to TA Associates. Baker Botts provided legal counsel and Guggenheim Securities and Ernst and Young served as financial advisors to Healix.
About Healix Infusion Therapy, Inc.
Since 1989, Healix has been driven by its mission of helping healthcare providers offer excellent patient care. With corporate headquarters in Sugar Land, Texas, Healix is a national leader in the support of infusion therapy management solutions and high-quality sterile compounded preparations. Visit www.healix.net for more information.
About TA Associates
TA Associates is one of the largest and most experienced global growth private equity firms. Focused on five target industries – technology, healthcare, financial services, consumer and business services – TA invests in profitable, growing companies with opportunities for sustained growth, and has invested in nearly 500 companies around the world. Comfortable as either a majority or minority investor, TA employs a long-term investing approach, utilizing its strategic resources to help management teams build lasting value in growth companies. TA has raised $24 billion in capital and is investing out of current funds of $7.25 billion. The firm’s more than 85 investment professionals are based in Boston, Menlo Park, London, Mumbai and Hong Kong. More information about TA Associates can be found at www.ta.com.
Marcia O’Carroll, TA Associates, 617-574-6796, [email protected]
Zachary Tramonti, BackBay Communications, 617-391-0797, zachary.tramonti@backbaycommunications