ACON COMPLETES SALE OF BIOMATRIX SPECIALTY INFUSION PHARMACY

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Jun 25, 2024, 08:30 ET

WASHINGTON, June 25, 2024 /PRNewswire/ -- ACON Investments, L.L.C. ("ACON") today announced that it has completed the sale of BioMatrix Specialty Infusion Pharmacy ("BioMatrix" or the "Company") to Frazier Healthcare Partners. Financial terms of the transaction were not disclosed.

Headquartered in Plantation, Florida and serving patients across all 50 states, BioMatrix is one of the largest and most diversified independent providers of specialty infusion services in the U.S. The Company delivers a high-touch, patient-centric model built around therapeutic centers of excellence. It is a partner of choice for patients, providers, manufacturers and payors by providing superior patient management in key infusion therapies including Immunoglobulin (IG), Transplant and Bleeding Disorders.

During the course of the investment, ACON worked with the Company to complete five strategic acquisitions that expanded the Company's geographic footprint, added management capabilities, afforded access to new payor contracts, expanded the drug portfolio and built out infusion operations. In early 2023, BioMatrix divested its lower-margin oral specialty business to focus intensively on home-based specialty infusion, a high-growth sector propelled by several compelling tailwinds. This resulted in accelerated organic growth with revenue increasing roughly five times faster than the broader home-infusion industry.

"This investment is a great example of ACON's tenacity and nimbleness, which allowed us to create exceptional value for our investors in a rapidly changing environment for specialty pharmacies," said Daniel Jinich, Managing Partner of ACON. "This sale reflects ACON's investment thesis of recruiting an experienced management team, focusing on organic and M&A growth and executing a strategic plan to generate meaningful returns," added Anjali Jolly, Managing Partner of ACON.

With an elite management team led by Kathee and Ted Kramm, BioMatrix is poised for continued growth and success. "It has been a privilege to lead this exceptional, high integrity management team. Throughout ACON's investment period, BioMatrix never deviated from a deep commitment to patient care and I am grateful for ACON's value-added guidance and support throughout our partnership," said Kathee Kramm, Chief Executive Officer of BioMatrix.

"The culture at BioMatrix revolves around patients and putting their needs above all else. I am extremely proud of what we have accomplished and I am deeply grateful for our partnership with ACON in transforming the company into an industry leader" said Nick Karalis, Board Chair.

Houlihan Lokey served as the Company's financial advisor. DLA Piper served as the Company's legal counsel. King & Spalding and Hogan Lovells advised ACON Investments.

About ACON Investments
ACON Investments, L.L.C. is a Washington, DC-based international private equity investment firm that manages private equity funds and special purpose partnerships that make investments in the United States, Latin America and Europe. With professionals in Washington, DC, Dallas, Los Angeles, New York, Bogota, Madrid, Mexico City and Sao Paulo, ACON has managed $7.0 billion in assets since inception and has a 28-year track record. For more information, visit www.aconinvestments.com.