Axium Healthcare
Healthcare Services
Axium Healthcare Pharmacy, Inc. is a leading independent specialty pharmacy that provides comprehensive disease-management programs to meet the needs of patients with rare or chronic conditions.
III
Fund
III
Fund
Fund III
Location Lake Mary, FL
Year of Investment 2006
CEO Mark Montgomery
Status Exited 2012
Results
Grew EBITDA by over
Increased contracted managed care by nearly
and covered lives to over 16 million
Increased revenues by approximately
primarily through organic growth
Value Creation Initiatives
What did the business need?
Prior to Carousel’s investment, Axium was 90+% owned by its two founders who were not involved in the day-to-day operations of the business. Axium’s management was seeking a capital provider to recapitalize the founders out of the business and provide a pathway to meaningfully increase their ownership in the business through rollover, hard-dollar investment and an attractive equity incentive plan.
What outcomes did we achieve?
Kroger acquired Axium in December 2012 to form a specialty pharmacy platform.
Axium’s management team remained in leadership roles to execute the company’s growth plan and subsequently grew the business to over $2.0 billion of revenue.
How did we create value?
“
Beyond delivering all of the capital we needed to acquire our company initially, Carousel Capital provided invaluable strategic assistance and continued support throughout the successful realization of our growth plan.
Mark Montgomery, CEO, Axium Healthcare, Former Portfolio Company
Note: The above testimonial is provided by a current or former Carousel Capital portfolio company executive and reflects their own personal opinion and is provided to demonstrate the benefits of working with the Carousel Capital team and is not provided to solicit investors or to illustrate investment experience with Carousel Capital. The executive was not paid for their testimonial. A potential conflict of interest exists because an executive is generally incentivized to make positive statements to maintain goodwill with Carousel Capital.
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November 15, 2012
Carousel Capital Completes Sale of Axium to KrogerDecember 18, 2012
Kroger Broadens Focus on Healthcare Services Through Axium Deal