RAISING CAPITAL
$16M+ Annualized EBITDA | 20% Seller Financing Secured | 3-Pharmacy Roll-Up Platform | $59M | Seeking Equity Partner
Healthcare · New York, NY, USA
revenue: $109,924,383
ebitda: $16,070,000
Exclusivity:
Non-Exclusive Deal
SBA Eligiblity:
Not SBA Eligible
Revenue:
$109,924,383
EBITDA:
$16,070,000
Purchase Price:
$59,000,000
Owner Financing:
$11,800,000
Three established, profitable specialty pharmacies currently under non-exclusive LOIs: two in New York and one in Florida. The businesses are being acquired simultaneously as a single roll-up platform, with coordinated diligence and closing through one broker relationship.
A key platform asset is the multi-state licensure footprint of the Florida operation, which is expected to hold pharmacy licensure in approximately 35 states by year-end. This provides the foundation for a substantially broader national specialty fulfillment platform and creates an immediate pathway to route eligible prescription volume through the multi-state licensed entity following closing.
Each business has long-standing payor relationships, recurring prescription revenue, and demonstrated growth. Together, the three acquisitions establish the foundation for a broader specialty and independent pharmacy consolidation strategy in a fragmented industry of 20,000+ independent pharmacies nationwide.
FINANCIAL PROFILE
Combined purchase price: $59.0M, inclusive of approximately $10.95M of accounts receivable and inventory
Operating value net of acquired A/R and inventory: approximately $48.05M
2026 annualized combined EBITDA: $16.07M
Effective multiple net of acquired working capital: 2.99x annualized EBITDA
Recurring prescription revenue with diversified payor exposure
2026 figures reflect current-year performance annualized on run rate as presented by the sellers' advisor and remain subject to Quality of Earnings verification during diligence.
THE TRANSACTION
All three businesses are currently under non-exclusive LOIs, with transaction terms agreed with the sellers and their advisor.
20% seller financing has been secured across all three acquisitions, totaling $11.8M in subordinated seller notes, providing meaningful seller alignment with post-closing performance.
The sellers offered a 60-day exclusivity period subject to a 1% earnest money deposit. We elected to remain non-exclusive while completing the capital formation process.
A single broker relationship represents all three targets, allowing diligence, financing, and closing timelines to remain coordinated across the platform.
The LOIs are time-sensitive, and we are motivated to move with the right capital partner. A 60-day due diligence period is contemplated, with closing estimated at approximately four to five months following definitive agreements to accommodate healthcare licensing and regulatory transfer requirements.
CAPITAL STRUCTURE
Senior debt and seller financing are expected to account for approximately 70% of the capital stack. We are seeking an equity partner for the remainder, with final tranche sizing subject to senior lender terms and the ultimate financing structure.
We are open on structure, including straight equity, participating preferred, or a blended approach appropriate for the transaction. Partners with established lending relationships or full-stack capabilities are also welcome to propose accordingly.
Our objective is to identify the right long-term capital partner and structure the capitalization around the respective mandates, return requirements, and capabilities of the parties involved.
WHY THIS OPERATOR
I am a licensed pharmacy professional with more than eight years of pharmacy operations experience across five healthcare systems, including Kaiser Permanente, UCLA Health, John F. Kennedy Memorial Hospital, and Orange County Medical Center.
My experience includes inpatient and retail pharmacy operations, medication reconciliation, pharmacy workflow design, oncology pharmacy program development, regulatory compliance, reimbursement processes, and operational improvement.
I understand pharmacy operations, reimbursement economics, PBM dynamics, regulatory requirements, staffing, and the operational realities of this industry from inside the pharmacy and outside in admin.
A dedicated financial analysis and due diligence team is engaged on underwriting and transaction execution, supported by an established network of pharmacy executives, directors, owners, and PharmD clinical and regulatory advisors.
WHY NOW
These three LOIs represent a rare convergence: three profitable specialty pharmacy businesses available simultaneously through a single broker relationship, with sellers across all three willing to finance 20% of the transaction.
The combination creates immediate scale across two major healthcare markets while bringing together a multi-state licensure footprint, existing specialty pharmacy operations, recurring prescription revenue, and seller alignment under a single platform.
Post-close, the opportunity extends beyond simply owning three profitable pharmacies. The platform creates increased wholesaler purchasing leverage, broader PBM and payor negotiating capability, centralized back-office opportunities, national specialty fulfillment potential, and a scalable acquisition vehicle for continued consolidation.
The pipeline does not stop with these three acquisitions.
NEXT STEPS
The full 19-page Capital Partner Package is attached to this listing and provides detailed financial information, per-pharmacy breakdowns, transaction structure, growth strategy, diligence framework, and management/support information.
Additional target-level materials, executed transaction documents, financial statements, and diligence materials are available under NDA.
Message me directly through Searchfunder, email me at redacted or book a call:
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I would welcome the conversation even if this specific transaction is not a fit for your fund. We are actively building relationships with institutional capital partners for this platform and future acquisitions.
Ron D. Gardner, MBA | BSB | MRT | CPhT | RPhT
Chief Executive Officer
Gardner Acquisitions & Closings LLC
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