August 15, 2008 - BGS Pharmacy Partners, Inc. (BGS), an alternate care pharmacy company based in Grapevine, TX, is pleased to announce an initial $10 million growth capital commitment from DW Healthcare Partners (DWHP) to finance acquisitions and development.
BGS is an independent specialty pharmacy company with service lines including; hospice, long-term care and specialty home IV. BGS founder and Chief Executive Officer, Dr. Robert DellaValle, has twenty five (25) years of experience in the long-term care and alternate care pharmacy industry. Prior to founding BGS, Dr. DellaValle held several senior executive positions in corporate management including that of Executive VP and COO of Pharmerica, Inc. (DOSE), a $1.2 long-term care, hospital management and specialty pharmacy company, and that of President and CEO of Allied Pharmacy Management, Inc., a venture backed long-term care and hospital pharmacy management business.
Joining Dr. DellaValle is VP of Finance and Corporate Development of BGS, Gary Himes. Mr Himes previously served as the Managing Partner for Flatirons Capital Advisors, where he worked closely with Dr. DellaValle to execute acquisitions and consolidation strategies in the specialty pharmacy market.
"We wanted a partner with extensive experience and relationships in the healthcare service industry", said Dr. DellaValle. "DW Healthcare Partners support will enable us to continue our strategy of acquiring and developing leading institutional pharmacies to better serve the hospice and long-term care markets."
Doug Schillinger, Managing Director at DW Healthcare Partners stated, "We feel fortunate to be partnering with a very strong management team with a proven track record int this market. We look forward to deploying capital in addition to the $10 million to further support the company's strategy."