H.I.G. Capital (“H.I.G.”), a leading global alternative investment firm with $70 billion of capital under management, is pleased to announce that one of its affiliates has completed the acquisition of ITH Group Limited (“ITH” or the “Company”), a leading UK provider of aseptic pharmaceutical compounding services, in partnership with its founders Adam Bloom and Karen Hamling. The financial terms of the transaction have not been disclosed.
ITH prepares bespoke, injectable medication for patients with specialized medical needs, specifically needs that existing alternative treatments cannot meet. Within the compounding services industry, the Company holds market-leading positions in chemotherapy, total parenteral nutrition, and central intravenous additive services, providing high-quality, patient-appropriate medications for both adults and neonates. The Company also operates a leading digital pharmacy that provides critical, licensed medication to private and NHS patients. In partnership with ITH’s management team, H.I.G. aims to continue the Company’s strong track record of organic growth and support new initiatives, including increasing the Company’s production capacity. ITH’s existing management team will remain in place, with Adam Bloom and Karen Hamling continuing as CEO and COO, respectively.
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Adam Bloom, CEO of ITH Group, commented: “I’m delighted to welcome H.I.G. as a key investor in the ITH Group. Since our founding in 2008, ITH has consistently grown by investing in our people and enhancing the services we provide to patients. we are proud to be a leading provider of compounding services in the UK, supporting both the NHS and private healthcare sectors. As we look ahead, we remain dedicated to expanding our service offerings, advancing our expertise in the supply of critical compounded medicines, and further developing our pharmacy services.”
John Harper, Managing Director and Head of the H.I.G. Europe Lower Middle Market LBO team in London, said, “We are delighted to be supporting Adam, Karen, and their team to further build upon ITH’s success. The Company’s track record of reliably providing compounded pharmaceuticals to NHS and private customers in an inherently undersupplied market, combined with H.I.G.’s history of supporting capacity expansion in its portfolio companies, underpins an exciting next chapter for ITH.”
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Gordon Cameron, non-executive Chairman of ITH, said: “Adam and Karen have built a highly impressive business providing a critical service to the UK health sector. The business has built a market-leading reputation for reliability through its unwavering focus on high-quality customer service. I am excited to join the business as part of H.I.G.’s investment to help deliver the next chapter of growth.”
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Source: PR Newswire
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