Aesynt, a provider of pharmacy automation services and a portfolio company of Francisco Partners, has acquired Health Robotics, a supplier of automated technology for intravenous medication preparation, compounding and dispensing.
Health Robotics provides integrated intravenous (IV) compounding and dispensing devices to hospitals and health systems. Brand names include i.v.STATION, i.v.SOFT and i.v.STATION ONCO. The company’s robotics-based IV automation services support more safe and efficient production of ready-to-administer IVs, thereby helping to reduce medication errors, increase medication throughput and lower costs associated with IV compounding and dispensing. Health Robotics was founded in 2006 and is based in Bolzano, Italy (www.health-robotics.com/en).
Under the terms of the agreement, Aesynt assumed complete ownership of Health Robotics, with all 65 employees immediately joining Aesynt. Founder-entrepreneurs Fabio Fioravanti and Gaspar DeViedma will remain with the company as Managing Directors of Research, Development & Operations and Global Commercialization, respectively. R&D and operations for IV automation products will continue to be headquartered in Italy.
“The acquisition of Health Robotics, the market leader in IV automation, perfectly aligns with Aesynt’s growth strategy, as it allows us to offer the most complete portfolio of pharmacy automation solutions on the market,” said Kraig McEwen, CEO at Aesynt. “The cost, footprint and throughput benefits of Health Robotics’ next-generation products truly set them apart and will enhance our comprehensive suite of solutions. This further advances our mission of helping hospitals and health systems improve outcomes, build stronger businesses and better manage change.”
Aesynt, previously named McKesson Automation prior to its acquisition by Francisco Partners in November 2013, offers pharmacy automation services to hospitals and health systems. The company offers a range of products addressing every stage of medication delivery within a hospital, including pharmacy, nursing and surgical services. The company is based in Pittsburgh (www.aesynt.com).
Francisco Partners makes investments in technology companies with transaction values ranging from $50 million to $2 billion. Transaction structures include buyouts, divisional divestitures, recapitalizations, restructurings and growth equity financings. Francisco Partners is headquartered in San Francisco (www.franciscopartners.com).
© 2014 PEPD • Private Equity’s Leading News Magazine • 4-4-14