Navigation Links
ACON Investments Acquires Injured Workers Pharmacy

WASHINGTON, July 23, 2014 /PRNewswire/ -- ACON Equity Partners III, L.P., a private equity investment fund affiliated with ACON Investments, L.L.C. ("ACON") announced it has completed the purchase of Injured Workers Pharmacy, L.L.C. ("IWP" or the "Company"), from Audax Group and Parthenon Capital Partners. IWP is a leading specialty pharmacy serving patients in the $8 billion Workers' Compensation, Automobile Personal Injury Protection and Personal Injury pharmacy markets in the United States.

As part of this transaction, ACON partnered with Patrick Keefe and Tracy Finn, two former senior executives of Omnicare, Inc., a Fortune 500 company that is a provider of long-term care and specialty pharmacy services. Also joining ACON in the transaction is Triton Pacific Capital Partners, LLC ("Triton Pacific"), an experienced private equity healthcare services investor. The Company will continue to be led by President and CEO Ken Martino and other members of the existing senior management team, who will be meaningful equity partners going forward.

"We are excited to partner with the management of IWP as well as with Pat and Tracy to build value in a business that is very well positioned for continued growth," said Daniel Jinich, Managing Partner of ACON. "IWP has developed a patient care advocacy program that results in demonstrated savings as injured workers experience better recovery outcomes and return to work faster. Patients, physicians, attorneys and payers see value in IWP's pharmacy model, and we see continued opportunity to grow through geographic market expansion as well as further penetration into the auto and personal injury claim markets," added Jinich.

Ken Martino commented, "The entire management team is excited about our partnership with ACON, Triton Pacific, Pat and Tracy. Under this new ownership, IWP will continue to thrive as a patient advocate for injured workers in a complex and evolving environment that requires specialized solutions tailored to the unique characteristics of the workers' compensation marketplace. On behalf of our entire team, I'd like to thank Parthenon Capital Partners and Audax Group for their support over the last few years. We're very proud of the company we've built together and I look forward to continuing to build on this momentum with our new sponsors."

Debt financing for the acquisition is being provided by Citizens Bank, N.A. through syndicated credit facilities. Hogan Lovells US LLP acted as legal adviser to ACON and Kirkland & Ellis LLP acted as legal adviser to the sellers. Jefferies LLC acted as exclusive financial adviser to IWP in the transaction.

Terms of the transaction were not disclosed.

About IWP
IWP is a specialty home delivery pharmacy serving patients injured in accidents covered by Property Casualty insurance. Fully licensed in 48 states, IWP enhances patient access and alleviates administrative and financial burdens by shipping medications directly to the patient and managing complex reimbursement processes. Through its state-of-the-art facilities located in Andover, Massachusetts and Phoenix, Arizona, IWP offers a full range of therapeutic options to ease pain and discomfort caused by injury, and meets each patient's individual needs through a dedicated team of pharmacists. In addition, IWP serves as a powerful resource to those who represent injured individuals. IWP serves attorneys and physicians by minimizing their staff's time and expense spent on medication and reimbursement issues. For more information on the company, please visit

About ACON Investments
ACON Investments, L.L.C. is a Washington, DC-based international private equity investment firm that manages private equity funds and special purpose partnerships that make investments in the United States and Latin America. Founded in 1996, ACON and its principals have managed over $3.5 billion of capital. ACON has professionals in Washington, DC, Los Angeles, Mexico City, São Paulo, Rio de Janeiro and Bogotà. For more information, visit

About Triton Pacific
Triton Pacific Capital Partners, LLC, founded in 2001, is a private equity firm that invests in middle-market companies in high growth or rapidly changing industries. Headquartered in Los Angeles, California, Triton Pacific currently manages four private equity funds and is the sponsor of Triton Pacific Investment Corporation, a non-traded public Business Development Company. For more information, visit


Daniel Jinich
ACON Investments, L.L.C.
(202) 454-1108

John Morgan Barr
ACON Investments, L.L.C.
(310) 788-5713

SOURCE ACON Equity Partners III, L.P.
Copyright©2014 PR Newswire.
All rights reserved

Related medicine technology :

1. Pre-Market Update: MGT Capital Investments, National American University Holdings and Actinium Pharmaceuticals
2. Collaborative Medical Technology Corporation Secures Investments from Two Prominent Medical Specialists
3. Lilly Announces Significant Global Insulin Manufacturing Capacity Investments in Response to Growing Diabetes Epidemic
4. Hospira Unveils New Quality Laboratory and Investments at Rocky Mount, N.C., Plant
5. Drip Drop Inc. closes $3.0M Series A-1 round with investments from John Elway, Ronnie Lott, and Sam Nazarian.
6. Chinas Strong Economic Growth and Healthcare Investments Generate Success for CPhI
7. Partnerships, Licensing, Investments and M&A Deals and Trends for May 2013 in Pharmaceuticals
8. MGT Capital Investments, Inc. Announces Sale of Medicsight Patents
9. MGT Capital Investments, Inc. To Present At The Second Annual Marcum LLP MicroCap Conference
10. Medical Equipment Annual Deals Analysis: M&A and Investments Trends - 2012
11. Frost & Sullivan: Government Support Vital to Encourage Venture Capital Investments in the North American Healthcare Industry
Post Your Comments:
(Date:11/25/2015)... THOUSAND OAKS, Calif. , Nov. 25, 2015 /PRNewswire/ ... of a Biologics License Application (BLA) with ... Administration (FDA) for ABP 501, a biosimilar candidate to ... the first adalimumab biosimilar application submitted to the FDA ... biosimilar pathway. Sean E. Harper , M.D., ...
(Date:11/25/2015)... AAIPharma Services Corp./Cambridge Major Laboratories, Inc. ... $15.8  Million to expand its laboratories and global ... The expansion will provide additional office space and ... of the pharmaceutical and biotechnology markets. ... up to 40,000 square feet of expanded development ...
(Date:11/25/2015)... Nov. 25, 2015  Henry Schein, Inc., the world,s ... office-based dental, medical and animal health practitioners, will unveil ... Henry Schein ConnectDental® Pavilion , which brings together ... open solutions designed to help any practice or laboratory ... for a schedule of experts appearing at the ...
Breaking Medicine Technology:
(Date:11/27/2015)... ... November 27, 2015 , ... Intellitec Solutions announced ... User Group (MSDSLUG). Recognized as Microsoft’s official group for end users of Dynamics ... software users, partners, industry experts and representatives. Intellitec Solutions’ membership status demonstrates their ...
(Date:11/27/2015)... ... 27, 2015 , ... The men and women on this ... in the country. They have overseen financial turnarounds, shown commitment to their community ... industry as a whole through their advocacy and professional efforts. , Becker's Hospital ...
(Date:11/26/2015)... ... November 26, 2015 , ... Inevitably when people think Thanksgiving, they also think ... during the Black Friday and Cyber Monday massage chair sales to receive ... high and low to find the best massage chair deals, they can see all ...
(Date:11/26/2015)... Antonio, TX (PRWEB) , ... November 26, 2015 , ... ... On November 19, 2015, our surgeons performed their 6,000th free flap breast reconstruction ... , “We wake up every day excited to rebuild lives and it’s an honor ...
(Date:11/25/2015)... ... November 25, 2015 , ... ... than those found on mammography, according to a study published online in the ... not seen on mammography may necessitate a change in treatment. , Breast MRI ...
Breaking Medicine News(10 mins):