CIT Group Inc. (NYSE: CIT), a leading provider of financing and advisory services to small businesses and middle market companies, today announced the sale of Amerita, Inc. (Amerita), a provider of home and specialty infusion services, to PharMerica Corporation (PharMerica), an institutional pharmacy services provider. The deal was led by Wesley Smith, Chris Schaefer and Robyn Friedman from CIT Healthcare. CIT Capital Securities LLC acted as the exclusive financial advisor to Amerita. Terms of the transaction were not disclosed. Amerita was a portfolio company of Ferrer Freeman & Company, LLC (FFC), a private equity firm focused on the healthcare industry.
“Together, with PharMerica, we look forward to continuing to provide quality services and support to home and specialty infusion patients,” said Jim Glynn, founder and CEO of Amerita.
David Freeman, a FFC Founding Partner, added, “CIT drove a sale process that yielded a great outcome for FFC and Amerita’s equity holders. We are especially pleased that Jim and his team have the opportunity to continue leading the next phase of Amerita’s growth with PharMerica’s support.”
Editor’s NoteFollow us on Twitter: @citgroup; LinkedIn: LinkedIn.com/company/cit; YouTube: YouTube.com/citgroupvideo, and Facebook: facebook.com/citgroup. Individuals who are interested in receiving corporate news releases can register at cit.com/newsalerts or subscribe to the RSS feed at cit.com/rss. About Amerita, Inc. Amerita, Inc. is a specialty infusion company focused on providing complex pharmaceutical products and clinical services to patients outside of the hospital. This market is expanding through a growing bio-pharmaceutical pipeline of infuseable and injectable medications, an aging population that requires additional healthcare services and the country’s need to find more affordable care alternatives. Amerita is headquartered at 20 Fairbanks, Suite 173, Irvine, CA 92618. More information on Amerita is available at www.ameritaiv.com. About Ferrer Freeman & Company, LLC Ferrer Freeman & Company, LLC, is a private equity firm located in Greenwich, CT focused exclusively on growth capital investments in the healthcare industry. Since its founding in 1995, FFC has invested over $900 million in 36 portfolio companies. FFC invests in established companies with significant growth opportunities and entrepreneurial management teams. FFC has a demonstrated track record of leveraging its comprehensive healthcare network and decades of experience to help build market leading organizations. More information on FFC is available at www.ffandco.com. About PharMerica PharMerica Corporation is a leading institutional pharmacy services company servicing healthcare facilities in the United States. PharMerica operates institutional pharmacies in 44 states. PharMerica’s customers are institutional healthcare providers, such as nursing centers, assisted living facilities, hospitals and other long-term care providers. The Company also provides pharmacy management services to long-term care hospitals.