M&A Deal Summary

CVS Health Acquires Apothecary By Design

On January 5, 2018, CVS Health acquired healthcare services company Apothecary By Design from BelHealth Investment Partners

Acquisition Highlights
  • This is CVS Health’s 5th transaction in the Healthcare Services sector.
  • This is CVS Health’s 14th transaction in the United States.
  • This is CVS Health’s 1st transaction in Maine.

M&A Deal Summary

Date 2018-01-05
Target Apothecary By Design
Sector Healthcare Services
Buyer(s) CVS Health
Sellers(s) BelHealth Investment Partners
Deal Type Add-on Acquisition

Target

Apothecary By Design

Portland, Maine, United States
Apothecary by Design is a specialty pharmacy focused on women’s health, hepatitis C and autoimmune disorders. Apothecary By Design was founded in 2008 and is based in Portland, Maine.

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Buyer(S) 1

Buyer

CVS Health

Woonsocket, Rhode Island, United States

Category Company
Founded 1996
Sector Healthcare Services
Employees219,000
Revenue 357.8B USD (2023)
DESCRIPTION
CVS Health office in Buffalo Grove, Illinois.
CVS Health office in Buffalo Grove, Illinois.

CVS Health operates retail pharmacies, and walk-in medical clinics, and is a pharmacy benefits manager. The Company enables people, businesses, and communities to manage health in a variety of ways. CVS Health advises patients on medications at CVS/pharmacy locations, helps clients control costs at CVS/caremark, and delivers care through CVS/specialty and CVS/minuteclinic. CVS Health was founded in 1996 and is based in Woonsocket, Rhode Island.


DEAL STATS #
Overall 14 of 18
Sector (Healthcare Services) 5 of 6
Type (Add-on Acquisition) 10 of 12
State (Maine) 1 of 1
Country (United States) 14 of 18
Year (2018) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-01-01 Billnat

Livonia, Michigan, United States

Billnat Corp. is a retail of pharmaceutical products based in Livonia, Michigan.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-08-09 Altius Health Plan

South Jordan, Utah, United States

Altius Health Plan, Inc. is a provider of health insurance services. Company provides healthcare plans to individuals and families, and businesses of all sizes in Utah, Wyoming, and Idaho.

Buy -

Seller(S) 1

SELLER

BelHealth Investment Partners

Fort Lauderdale, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2011
PE ASSETS 500M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

BelHealth Investment Partners LLC is a private equity firm focused on mid-sized healthcare companies. The Firm looks to invest $20 to $50 million per transaction and specifically targets healthcare services, healthcare products, healthcare distribution, and healthcare IT. BelHealth prefers companies with recurring revenue, high margins, diverse customers, low regulatory oversight, and modest technology risk. Prospective companies are typically profitable with at least $20-$100 million of enterprise value, $10-$100 million of revenue and $2-$10 million of EBITDA. BelHealth was formed in 2011 and is based in New York City.


DEAL STATS #
Overall 4 of 9
Sector (Healthcare Services) 1 of 3
Type (Add-on Acquisition) 3 of 4
State (Maine) 1 of 1
Country (United States) 4 of 9
Year (2018) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-08-16 Integrated Care Physicians

Tampa, Florida, United States

Integrated Care Physicians is a provider of emergency department medical directorship and management services, which includes recruitment, credentialing, and qualifying for third-party billing contracts and requirements. Integrated Care Physicians was founded in 2017 and is based in Tampa, Florida.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-06-28 Beach House

Juno Beach, Florida, United States

Beach House is a drug and alcohol treatment provider, offering a full continuum of medically and clinically integrated care to people with substance use and co-occurring disorders. Beach House was founded in 2014 and is based in Juno Beach, Florida.

Buy -