Investment Summary

Lovett Miller & Co. and H.I.G. Private Equity Invest In RxStrategies

On May 2, 2003, private equity firms Lovett Miller & Co. and H.I.G. Private Equity invested in healthcare services company RxStrategies

Investment Highlights
  • This is Lovett Miller & Co.’s 1st and H.I.G. Private Equity’s 1st transaction in the Healthcare Services sector.
  • This is Lovett Miller & Co.’s 3rd and H.I.G. Private Equity’s 23rd transaction in the United States.
  • This is Lovett Miller & Co.’s 1st and H.I.G. Private Equity’s 5th transaction in Florida.
Investment Fate
  • RxStrategies was sold to a consortium of financial buyers in 2019.

Investment Summary

Date 2003-05-02
Target RxStrategies
Sector Healthcare Services
Investor(s) Lovett Miller & Co.
H.I.G. Private Equity
Deal Type Venture

Target

RxStrategies

Boca Raton, Florida, United States
RxStrategies provides the federally qualified community health centers (FQHC), other qualified entities and the pharmacy partners with a full turn-key solution for the implementation and on-going management of the 340B discount prescription drug program. RxStrategies was founded in 2003 and is based in Boca Raton, Florida.

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Investor(S) 2

Investor

Lovett Miller & Co.

Neptune Beach, Florida, United States

Investor Investor


Category Private Equity Firm
Founded 1997
PE ASSETS 175M USD
Size Small
Type Sector Agnostic
DESCRIPTION

Lovett Miller & Co. is a private equity firm that provides growth and shareholder liquidity capital to high-growth privately held companies located in the Southeast US and Texas. Lovett Miller looks for businesses generating sales of $1 to $50 million and can commit up to $15 million per transaction. Areas of interest include technology products and services, healthcare services and devices, business services, consumer and retail, and financial services. The Firm prefers minority positions. Lovett Miller is based in Jacksonville, Florida with an additional office in Tampa.


DEAL STATS #
Overall 3 of 12
Sector: Healthcare Services M&A 1 of 1
Type: Venture M&A Deals 2 of 7
State: Florida M&A 1 of 4
Country: United States M&A 3 of 12
Year: 2003 M&A 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2002-01-07 iLIANT

Tampa, Pennsylvania, United States

iLIANT Corporation, headquartered in Tampa, Florida, is a leading provider of outsourced technology management, application hosting and business services for physician practices. Its mission is to provide the knowledge and technology to support high quality care, improved services, optimal reimbursement and maximum efficiencies in a complex health care environment. (Board Member - Palmer P. Garson)

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2003-09-29 360Commerce

Austin, Texas, United States

360Commerce, Inc., headquartered in Austin, Texas, provides J2EE-based software that enables retailers to capture and leverage real-time operational intelligence across the enterprise to optimize store profitability. 360Commerce is the software vendor with more store systems customers than any other in the retail Java market.

Buy -
Investor

H.I.G. Private Equity

Miami, Florida, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1993
PE ASSETS 65.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

HIG Private Equity is the private equity arm of HIG Capital. The Firm focuses on management buyouts, growth equity investments, and recapitalizations of mid-sized to large companies valued between $50 million and $1 billion. HIG will also consider industry consolidations, going-privates, and corporate divestitures. Sectors of interest include aerospace, building materials, business services, consumer products, distribution, healthcare, infrastructure, contracting, manufacturing, media, oil & gas services, IT, and transportation. HIG was formed in 1993 is based in Miami, Florida.


DEAL STATS #
Overall 23 of 385
Sector: Healthcare Services M&A 1 of 27
Type: Venture M&A Deals 3 of 10
State: Florida M&A 5 of 29
Country: United States M&A 23 of 251
Year: 2003 M&A 7 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2003-04-10 Accupac

Mainland, Pennsylvania, United States

Accupac is a provider of outsourced manufacturing and packaging solutions to pharmaceutical and over-the-counter (OTC) personal care product manufacturers. Accupac is a specialist in liquid topical and oral care products, including skin creams, toothpaste, moisturizing lotions, mouthwash, and other personal care products, many of which require FDA approval. Accupac was established in 1974 and is based in Mainland, Pennsylvania.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2003-09-25 TASI

Harrison, Ohio, United States

TASI is a manufacturer of highly-engineered leak test and measurement equipment designed to enhance manufacturing efficiency in the automotive, plastics, industrial and pharmaceutical end markets. TASI was founded in 1981 and is headquartered in Harrison, Ohio.

Sell -