Here's the Deal
Baird's Investment Banking Group is pleased to announce the following transaction:
Equity Commitment from Centerbridge Partners, L.P.
Baird served as the exclusive financial advisor to Remedi
Remedi SeniorCare® (“Remedi” or the “Company”) recently announced it has closed a $300 million equity commitment from affiliates of Centerbridge Partners, L.P., of which $60 million of Class B common stock has been funded. The investment will support the continued growth of Remedi’s customer-driven innovations, Paxit™ and My Remedi™, as well as acquisitions and greenfield start-up pharmacies in new markets across the United States. Remedi’s founding investor, Sterling Partners, will continue to participate in the Company’s ongoing growth.
Remedi, one of the nation’s largest institutional pharmacy companies, enables long-term care facilities to deliver better business results and provide exceptional resident-centered care. At the forefront of implementing high-tech advancements for the industry, Remedi redefined medication administration and management with the launch of the Paxit™ automated medication dispensing system delivering superior accuracy, efficiency and medication cost reduction. Remedi's online and electronic tools via My Remedi™ web portal and Electronic Order Entry further drive business management efficiency and overall cost reduction. Since deploying Paxit™ in August of 2009, Remedi has dispensed over 22,000,000 individually blistered medication doses to residents in skilled nursing and assisted living facilities.