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ACON Investments Acquires Injured Workers Pharmacy
Date:7/23/2014

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 wi
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SOURCE ACON Equity Partners III, L.P.
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