Frazier Healthcare Partners acquires behavioral pharmacy Altruix
Operating from 17 Mid-Atlantic pharmacies, the Hunt Valley, Md., company serves more than 800 providers and over 32,000 patients each month.
Hunt Valley, Md.-based Altruix, a behavioral health pharmacy serving patients with severe mental illness, substance use disorders and intellectual and developmental disabilities, has been acquired by Frazier Healthcare Partners.
The company operates 17 pharmacies across the Mid-Atlantic, serving more than 800 behavioral health providers and over 32,000 patients.
Its model combines clinical support, medication adherence programs, specialized packaging and access to complex behavioral health therapies for community-based agencies, group homes and other care providers.
Terms were not disclosed; Frazier Executive in Residence Randy Hyun was named CEO at closing after prior roles at Evernorth Health System Services, CarepathRx, Aetna Medicaid and McKesson.
Greg Ganse, Altruix’s former CEO, will remain involved as an investor and advisor.
“Frazier’s deep healthcare expertise and bench of operational resources make them an ideal partner for Altruix,” said Greg Ganse.
Doug Present, John Rex, Eric Palmer and Mark Peterson joined the board.