Funds used to spur growth and invest in new automation and corporate support infrastructure
ATLANTA–(BUSINESS WIRE)–Guardian Pharmacy Services, one of the nation’s largest long-term care (LTC) pharmacy companies, is setting its sights on the future as it expands into new markets, procures state-of-the-art automated technology and invests in the company’s corporate support team in Atlanta to benefit their local pharmacy partners across the country. These expansion efforts are made possible through a $60 million syndicated financing arrangement led by Regions Bank that also includes Bank of America and Cadence Bank.
Since the company’s founding in 2004, Guardian Pharmacy Services, headquartered in Atlanta, Ga., has grown into the third largest LTC pharmacy provider in the country. In just the past five years, Guardian has significantly increased its national and entrepreneurial presence, adding 13 locations in 11 states, and has more than doubled its revenue and number of residents served. With 34 locations across the country, Guardian currently serves more than 100,000 residents and employs over 2,000 employees.
With new capital from the secured credit facility, Guardian will continue to fuel its expansion efforts through greenfield startups and partnerships with existing pharmacy businesses that are looking for new opportunities to grow.“Our mission has been the same since day one, to empower our local partner pharmacies to help them better serve their LTC communities and residents,” said Fred Burke, CEO and co-founder of Guardian Pharmacy Services. “Our portfolio growth, as well as the overall trust and satisfaction of the communities and residents we serve, is validation that our hard work and clear focus is paying off. Regions Bank has been an important partner since the beginning, and this financing will enable us to continue our thoughtful strategy of adding new pharmacies and services.”Guardian is also investing in new automation technologies; providing cutting-edge tools for their local pharmacy teams. The new systems will improve safety protocols while reducing the amount of time needed to sort, package and deliver medications which are critical to the well-being of the long-term care communities and residents they serve. The company is also bolstering its corporate support infrastructure in Atlanta which handles day-to-day business operations for their pharmacy partners, including payroll, HR, IT and more.“Regions Bank is proud to partner with Guardian Pharmacy Services to support their continued growth as the premier long-term care pharmacy provider,” said John Barton, head of Regions Healthcare Banking. “The company has experienced tremendous success in the past decade, and we hope to help them open their services into all 50 states in years to come.”The Regions Healthcare team manages a portfolio of over $4.0 billion in assets with experience in a variety of healthcare subsectors. The team prides itself on providing senior level attention across all relationships to enhance the dialogue and value-add for clients. The team is well versed in many banking and advisory services and has a strong appetite Bank’s balance sheet to build strategic relationships.
About Guardian Pharmacy Services
Guardian Pharmacy Services, headquartered in Atlanta, Ga., is one of the nation’s largest long-term care pharmacy companies. Guardian’s pharmacies provide outstanding client service to senior housing communities including assisted living, skilled nursing and others. Founded in 2004, Guardian is best known for its unique local-autonomy business model, where pharmacy operators participate in local ownership and benefit from Guardian’s experience in high-growth, specialty pharmacies. www.guardianpharmacy.net.
About Regions Financial Corporation
Regions Financial Corporation (NYSE:RF), with $123 billion in assets, is a member of the S&P 500 Index and is one of the nation’s largest full-service providers of consumer and commercial banking, wealth management, mortgage, and insurance products and services. Regions serves customers across the South, Midwest and Texas, and through its subsidiary, Regions Bank, operates approximately 1,500 banking offices and 1,900 ATMs. Additional information about Regions and its full line of products and services can be found at www.regions.com.