H.I.G. Capital Finalizes Acquisition of Innovative ITH Group
H.I.G. Capital Completes Strategic Acquisition
H.I.G. Capital, a leading global alternative investment firm with extensive capital under management, proudly announces the successful acquisition of ITH Group Limited, a preeminent provider of aseptic pharmaceutical compounding services in the UK. This acquisition aligns with H.I.G.'s strategy of investing in high-growth companies. The financial specifics of this agreement are currently undisclosed, keeping market interests alive.
Enhancing Healthcare with Tailored Pharmaceutical Services
ITH Group specializes in preparing personalized injectable medications catering to patients with unique medical requirements—needs that standard treatments may not address adequately. The company has established itself as a leader in the compounding services industry, particularly in critical areas such as chemotherapy, total parenteral nutrition, and crucial intravenous additives, offering top-quality medications suited for both adults and neonates. Additionally, ITH Group runs a highly regarded digital pharmacy servicing both private patients and the National Health Service (NHS).
Commitment to Growth and Excellence
In collaboration with ITH's experienced founding team, H.I.G. intends to bolster the company’s remarkable track record of organic expansion and launch new initiatives aimed at increasing production capabilities. The current management team, including CEO Adam Bloom and COO Karen Hamling, will continue to lead the organization through this transformative period.
Voices from Leadership
Adam Bloom expressed his excitement about H.I.G.'s involvement, stating, "Welcoming H.I.G. as a strategic investor marks a significant milestone for ITH Group. Since our inception in 2008, we have prioritized growth through investment in our team and improvement of patient services. Today, we are one of the foremost compounding service providers in the UK, providing exceptional support to both the NHS and private healthcare sectors. Our vision remains to enhance our offerings, focus on the supply of vital compounded medications, and advance our pharmacy services further."
John Harper, Managing Director at H.I.G., emphasized the potential in supporting ITH's journey, stating, "We are excited to partner with Adam, Karen, and their dedicated team to further ITH's success story. The company has a solid reputation for reliably delivering compounded pharmaceuticals in a market that suffers from insufficiency. With H.I.G.'s expertise in scaling operations, we foresee an exciting future for ITH Group."
ITH's Impact on the UK Healthcare Sector
Gordon Cameron, the non-executive Chairman of ITH, commented on the leadership team’s impressive work: "Adam and Karen have established an invaluable service for the UK health sector. Their relentless commitment to quality and customer satisfaction has earned them a well-deserved reputation in the market. I am enthusiastic about contributing to ITH’s growth trajectory as part of H.I.G.'s backing."
About ITH Group
Since its foundation in 2008, ITH Group has dedicated itself to providing specialized aseptic compounding services for both NHS and private sector clients. As they focus on advanced areas such as chemotherapy and parenteral nutrition, ITH continues to lead with innovative solutions in patient care.
About H.I.G. Capital
Established in 1993, H.I.G. Capital is a prominent global alternative investment firm managing around $70 billion in capital. They specialize in providing flexible debt and equity investments to middle-market companies across various sectors, emphasizing operationally focused and value-added strategies. With a comprehensive portfolio encompassing over 400 companies worldwide, their reputation is built on a commitment to successful management and operational excellence.
Frequently Asked Questions
What is the significance of H.I.G. Capital's acquisition of ITH Group?
The acquisition represents H.I.G.’s strategy to invest in growth-oriented companies, particularly in healthcare services, enhancing their portfolio's strength and diversity.
How does ITH Group contribute to the healthcare sector?
ITH Group specializes in providing customized compounding services that cater to patients with specific needs, improving access to vital medications that traditional methods may not adequately supply.
Who will remain in charge of ITH Group after the acquisition?
Adam Bloom and Karen Hamling will continue their roles as CEO and COO, respectively, ensuring continuity in leadership and operations.
What are the future plans for ITH Group under H.I.G. Capital?
Plans include expanding production capabilities and enhancing service offerings, continuing the company's commitment to high-quality compounding services.
What is H.I.G. Capital's focus as an investment firm?
H.I.G. Capital focuses on providing operationally efficient and in-demand investment opportunities, particularly targeting middle-market sectors for sustainable growth.
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