Altamont Capital Sells ModernHEALTH to Axium Pharmacy
Ropes & Gray acted as legal advisor to Altamont Capital Partners and its portfolio company Modern HC Holdings, Inc. (ModernHEALTH) in the sale of ModernHEALTH to Axium Pharmacy Holdings, Inc. ModernHEALTH and Axium will combine to create a specialty pharmacy that will operate as a wholly-owned subsidiary of The Kroger Co.
ModernHEALTH, based in Orlando, Fla., is one of the nation's largest independent providers of specialty pharmacy services, including intravenous (IV) immunoglobulin for patients who require IV-based therapies for autoimmune and primary immune deficiency diseases, and comprehensive medication management for HIV, cystic fibrosis, transplant, hepatitis C, rheumatoid arthritis and dermatology.
The transaction, announced July 20, is subject to regulatory approvals. Financial terms were not disclosed.
The Ropes & Gray team advising ModernHEALTH included tax partner Amanda Holt, executive compensation & employee benefits partner Jennifer Rikoski, labor & employment partner Megan Bisk, and intellectual property transactions partner David McIntosh.