Carepoint Announces Partnership with New Heritage Capital

Carepoint Pharmacy (“Carepoint”), an end-to-end access hub and dispensing pharmacy serving patients nationwide, today announced a new partnership with and investment from New Heritage Capital (“Heritage”), a Boston-based private equity firm focused on partnering with high-growth, founder-owned businesses. The investment was structured using Heritage’s Private IPO^® solution, which leaves operating control in the hands of current Carepoint management while providing the financial flexibility to accelerate future growth. Terms of the transaction were not disclosed.

Founded in 2012, Carepoint is the first platform that combines 50-state pharmacy dispensing with comprehensive support services for pharmaceuticals that can otherwise be difficult for patients to obtain. Carepoint partners with pharmaceutical manufacturers to assist patients with access and affordability solutions to help them navigate the complex reimbursement landscape for these drugs. By integrating nationwide pharmacy dispensing and patient access services, Carepoint offers greater control, efficiency and visibility across the prescription journey, helping more patients access the therapies prescribed by their healthcare providers.

Bhavesh Patel, Co-founder and CEO of Carepoint, said, “I am incredibly proud of what the Carepoint team has built and am excited to begin our next phase of growth. We will continue to invest in our end-to-end platform, driving value for our manufacturer partners and patients. Heritage has substantial experience helping scale businesses like ours and we are confident they will help accelerate Carepoint’s growth.”

Pritesh Patel, Co-founder and COO of Carepoint, added, “We built Carepoint to provide a unique solution for the pharmaceutical industry centered on speed to therapy, patient access and visibility. We are excited that Heritage shares our commitment to further investing in the core capabilities and patient-access focus that make Carepoint special.”

Melissa Barry, Partner at Heritage, said, “We believe Carepoint’s solution is differentiated in the marketplace. By combining high-touch patient access services with comprehensive dispensing capabilities, Carepoint offers a true one-stop shop for pharmaceutical manufacturers and patients. We are grateful for the opportunity to partner with Bhavesh and Pritesh to support Carepoint’s next phase of growth.”

Cantor Fitzgerald served as exclusive financial advisor to Carepoint in the transaction. Debt financing for the transaction was provided by Oxford Finance LLC.

About Carepoint

Founded in 2012, Carepoint is an end-to-end platform that combines pharmacy dispensing capabilities in all fifty states with patient access hub services. For more information, visit www.carepoint.pharmacy.

About New Heritage Capital

New Heritage Capital is a Boston-based private equity firm with a twenty-year history of partnering with growing, middle market, founder-owned businesses. With its innovative investment structures like the Private IPO^®, Heritage provides founders with a combination of liquidity and growth capital while allowing founders to maintain control of their business. With decades of experience at managing growth, Heritage gives its partners the strategic, operational and financial guidance to help its companies reach their growth objectives. To learn more, visit www.newheritagecapital.com.

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