BelHealth Exits Aureus Health Services
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BelHealth Exits Aureus Health Services

aureus nf1BelHealth Investment Partners has sold its portfolio company Aureus Health Services to Meijer, a regional hypermarket chain headquartered in Michigan.

Aureus, acquired by BelHealth in December 2012, is a specialty pharmacy and health services company that provides prescription drugs, nutritional supplements and therapy management services to patients, families, and medical professionals in treating a range of chronic health conditions including HIV, Hepatitis C, Cancer, and other chronic and rare conditions.  Aureus is headquartered in Pittsburgh and operates facilities located in New York, New Jersey, Missouri, California and Pennsylvania (www.aureushealthservices.com).

Richard Friedman nf1“We are very proud of what we have accomplished at Aureus,” said Richard Friedman, Chairman of Aureus and a BelHealth Operating Partner.  “The company grew revenue 10x under our stewardship and has become a leading national provider of specialty pharmacy and Hub services. Our executive team, led by Michael Nameth, did an excellent job in executing the strategic plan and driving tremendous growth. Meijer, with its strong retail footprint and focus on customer service, is the perfect partner for Aureus.”

BelHealth Investment Partners is a lower middle-market healthcare focused private equity firm.  The firm invests from $20 million to $40 million in companies in three healthcare segments: services, products, and distribution. BelHealth is based in New York (www.belhealth.com).

Harold Blue nf1According to Harold Blue, the founder and Managing Partner of BelHealth, the firm’s investment in Aureus was very successful and was driven both by add-on acquisitions and operational improvements. “Richard and Michael did a terrific job in taking Aureus from a New York-based, local business, to a national specialty pharmacy and Hub services platform. During BelHealth’s ownership, Aureus completed two acquisitions that provided both geographic and disease state diversification. Aureus also established a national Hub to service patients through grocery chains, group purchasing organizations, independent pharmacies and wholesalers.  Aureus’ exceptional financial results led to an outstanding investment return for our limited partners.”

Meijer, the buyer of Aureus, is a privately-owned regional hypermarket chain.  About half of the company’s 200 stores are located in Michigan’s Lower Peninsula, with additional locations in Illinois, Indiana, Ohio, and Kentucky.  Based on 2013 revenue, Meijer is the 27th-largest retailer in the United States.  The company was founded in 1934 by Hendrik Meijer and is headquartered near Grand Rapids in Walker, MI (www.Meijer.com).

2015 PEPD • Private Equity’s Leading News Magazine • 5-21-15

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