PARK CITY, Utah, Jan. 18, 2011 /PRNewswire/ -- DW Healthcare Partners (DWHP), a leading private equity firm specializing in select healthcare sectors, announced the appointment of Bradley Lanham as the new Chief Executive Officer of BGS Holdings. Through BGS Holdings, DWHP has now completed acquisitions of institutional pharmacies specializing in long term care and hospice in growth markets including Texas, Nevada, Utah, Idaho and Colorado.
"Brad's appointment as CEO represents the pinnacle step towards consolidating and advancing our interests in the long term care and hospice pharmacy markets," said Doug Schillinger, DWHP Managing Director and BGS Holdings Board Member. Schillinger continued, "With the recent and largest acquisition of Spectrum Pharmacy Services in Nevada, we now have achieved five transactions that will serve as the platform for solid growth in all five markets as well as contiguous geographic opportunities. We are thrilled that Brad shares our vision and as CEO, he will lead an executive team with tremendous experience in this space."
A graduate of the University of Texas, Austin with a degree in Pharmacy, Lanham spent 18 years at PharMerica, the last 5 years as Senior Vice President of Operations, with direct responsibility for geographic regions totaling $600 million in revenues. Most recently, Lanham served at Bristol Myers Squibb, leading the drug maker's strategy to expand its presence in the Long Term Care market.
In related news, DWHP announced the transition of Drew McCartney from interim CEO of BGS Holdings back into the equity firm's Executive In Residence (EIR) program. Doug Schillinger added, "Drew has been a superb partner assisting us in the successful evolution of our plans for BGS. From his leadership on the Spectrum acquisition to his role in selecting the New CEO, we benefited from Drew's seasoned executive skills and we look forward to his ongoing role with DWHP on future investments."
Formed in 2002, DW Healthcare Partners is a healthcare focused private equity firm with over $250 million under management. DWHP invests in healthcare companies generating over $3 million in EBITDA. DWHP's extensive knowledge of the healthcare market allows the firm to quickly evaluate and complete growth transactions. DWHP's experience owning and operating healthcare businesses provides for an understanding for the operational and strategic issues confronting business owners and can help accelerate growth and the creation of substantial shareholder value.
|SOURCE DW Healthcare Partners|
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