Triton Pacific Healthcare Partners (“Triton Pacific”), a healthcare-focused private equity group, is pleased to announce the closing of its sale of BioMatrix Specialty Infusion Pharmacy (“BioMatrix” or the “Company”) to Frazier Healthcare Partners. Terms of the transaction were not disclosed. Triton Pacific generated a return of 3.0x on the investment.
Headquartered in Plantation, FL and serving patients across all 50 states, BioMatrix is one of the largest and most diversified independent providers of specialty infusion services in the U.S. The Company delivers a high-touch, patient-centric model built around therapeutic centers of excellence that provide superior management of patient therapies, including IVIG, bleeding disorders, immunology, neurology, transplant, oncology, and rare diseases.
Triton Pacific acquired BioMatrix in 2016 and, during the course of the investment, worked with the Company to complete five strategic acquisitions. These acquisitions expanded the Company’s therapy footprint, added management capabilities, afforded access to new payor contracts, expanded the drug portfolio, and built out infusion operations. In early 2023, BioMatrix divested its lower-margin traditional specialty business and focused intensively on specialty infusion, a high-growth sector propelled by compelling tailwinds. Successfully executing on this strategy, BioMatrix drove exceptional organic growth, with revenue growing roughly five times faster than the broader infusion industry. Throughout Triton Pacific’s investment period, BioMatrix has undergone a meaningful evolution, but its commitment to patient care and improved outcomes has remained at the forefront throughout. With an elite management team led by Kathee Kramm and a stellar growth trajectory, BioMatrix is poised for continued success.
Kathee Kramm, Chief Executive Officer for BioMatrix, states, “It has been a pleasure to work with Triton Pacific since joining BioMatrix in 2023. The partnership betwen Triton and the extremely talented, hardworking staff at BioMatrix has been instrumental in our rapid growth over the last 12 months. The culture at BioMatrix truly revolves around the patient and putting their needs above all else. I am extremely proud of where we are today and very excited to watch the organization continue to reach new highs and unprecedented levels of growth.”
Houlihan Lokey, led by Mike Pisani, served as the Company’s financial advisor. DLA Piper, led by Josh Kaye, served as the Company’s legal counsel.
About Triton Pacific
Triton Pacific Capital Partners (https://www.tritonpacific.com/), founded in 2001, is a private equity firm offering unique investment opportunities to institutional and high net worth investors. Its healthcare division, Triton Pacific Healthcare Partners, has a dedicated healthcare investment team with a demonstrated track record of successfully sourcing, acquiring, and managing healthcare investments.