PharmaForce Announces Significant Investment from Aquiline Capital Partners

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Jan 16, 2024, 08:09 ET

NEW YORK, Jan. 16, 2024 /PRNewswire/ -- Pharma Force Group LLC ("PharmaForce" or "the company"), a pharmacy solutions provider to hospitals and health clinics, announces that Aquiline Capital Partners LP ("Aquiline") has made a majority investment. Aquiline is a private investment firm, investing in financial services and related technologies, with over $10 billion in assets under management as of September 30, 2023.

Since its inception in 2017, PharmaForce has delivered transparent and flexible 340B administration software to over 280 clients. With the recent launch of its innovative pharmacy benefits management offering, the company continues to be a trailblazer in the sector. Leveraging the partnership with Aquiline, which has deep expertise in the intersection between healthcare and insurance, PharmaForce is well positioned to accelerate strategic M&A and continue to expand its product capabilities.

Daniel Dimitri, CEO and Co-Founder of PharmaForce, said: "The investment from Aquiline marks a significant milestone for us. As we gear up to lead the market's pharmacy solutions sector, Aquiline's strategic insights and network will be invaluable in realizing our vision for expansive growth and innovation."

Benedict Baerst, Partner at Aquiline, said: "In a healthcare system where safety net providers are indispensable, transparent and efficient Third Party Administrators are crucial. PharmaForce, with its tech-driven approach, has consistently delivered superior outcomes in the 340B program. Our investment reflects our confidence in PharmaForce's potential to emerge as a market leader."

Piper Sandler served as the exclusive financial advisor to PharmaForce in the transaction and Taft was PharmaForce's legal counsel. Ropes & Gray was Aquiline's legal counsel. The transaction closed in the fourth quarter of 2023. Additional financial details of the transaction were not disclosed.

About PharmaForce

PharmaForce, founded in 2017, is a pharmacy solutions provider serving hospitals and health clinics across the United States. PharmaForce leverages its 340B and technology expertise to provide clients a transparent and flexible solution to administer its 340B program and recently launched its pharmacy benefits management product. The company services over 250 clients and has achieved #1 Best-in-KLAS rating for 340B Management Systems since 2021.

About Aquiline Capital Partners

Aquiline Capital Partners LP is a private investment firm based in New York, London, Philadelphia, and Greenwich, Connecticut, that invests across financial services, healthcare, and technology. For more information about Aquiline, its investment professionals, and its portfolio companies, visit www.aquiline.com.

SOURCE Aquiline Capital Partners LP