Frazier Healthcare Partners buys behavioral health pharmacy Altruix
Operating 17 Mid-Atlantic pharmacies, the Hunt Valley, Md., company serves more than 800 behavioral health providers and 32,000 patients.
Frazier Healthcare Partners made a platform investment in Altruix, a Hunt Valley, Md.-based behavioral health pharmacy serving people with severe mental illness, substance use disorders and intellectual and developmental disabilities.
Altruix operates 17 pharmacies across the Mid-Atlantic and serves more than 800 behavioral health providers and over 32,000 patients.
Its services include 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.
Randy Hyun, a Frazier Executive in Residence and former president of Evernorth Health System Services, was appointed chief executive at closing; he previously led CarepathRx and Aetna Medicaid and held senior roles at McKesson.
“Frazier’s deep healthcare expertise and bench of operational resources make them an ideal partner for Altruix,” said Greg Ganse.
Ganse, Altruix’s former chief executive, will remain involved as an investor and advisor, while Frazier named Doug Present, John Rex, Eric Palmer and Mark Peterson to the company’s board.