Safecor Health Names Keith Pitts to Its Board of Directors

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Mar 07, 2023, 14:16 ET

COLUMBUS, Ohio, March 7, 2023 /PRNewswire/ -- Safecor Health ("Safecor," or the "Company"), the market leader of pharmaceutical unit-dose packaging services for hospitals and health systems, and Vesey Street Capital Partners ("VSCP"), a New York-based lower middle-market healthcare services private equity firm, today announced the appointment of Keith Pitts to Safecor's Board of Directors.

"To say that we're excited to be adding Keith to the Safecor Health board is if anything an understatement," suggested Adam Feinstein, Managing Partner at Vesey Street Capital Partners. "In my long professional association and friendship with Keith, I have come to appreciate his almost unparalleled healthcare perspectives, his extensive hospital system experience, and his vast network of relationships."

"We are extremely excited to be adding Keith's executive knowledge and hospital system understanding to our board," added Safecor Health CEO Steve Fischbach. "We look forward to gaining from his guidance and his insights as we continue to expand our service offerings to hospitals."

"I am excited to support VSCP and the leadership team at Safecor Health in their growth journey," highlighted Mr. Pitts. "The opportunity in the market and the enthusiasm within the organization and from VSCP was compelling. I look forward to working with the team to contribute to the company's future growth."

Mr. Pitts successfully served as Vice Chairman of large publicly traded hospital systems Tenet Healthcare Corporation and Vanguard Health Systems where he led strategy, acquisition and integration activities, and operating positioning. Prior to joining Vanguard, he served as the chairman and chief executive officer of Mariner Post-Acute Network, a post-acute services group that operated nursing homes, long-term acute-care hospitals, sub-acute assisted living facilities, and institutional pharmacies and provided therapy and rehabilitation staffing services. In addition, Mr. Pitts served as the executive vice president and chief financial officer for OrNda HealthCorp, a predecessor of Tenet. Prior to joining OrNda, he was a consultant to healthcare organizations, including as a partner in Ernst & Young's healthcare consulting practice. He is a member in the American Institute of Certified Public Accountants (AICPA), the Florida Institute of CPAs, and served three terms as the chairman of the Federation of American Hospitals (FAH), the industry association that represents investor-owned hospitals. Mr. Pitts is a CPA and has a B.S. in business administration from the University of Florida.

About Safecor Health
Founded in 2008, Safecor Health is the national leader committed to providing unit-dose drug packaging services for hospitals, long-term care providers, pharmaceutical manufacturers, and retail and digital health companies. The company recently launched SafecorLogics, an important new program that

provides health systems with a more strategic approach to reducing drug spend and building system-wide supply chain solutions. Safecor Health also markets a rapidly growing line of commercial unit-dose products for use in institutions.

Today, Safecor Health services over 1,000 hospitals across the country and repackages for more than 75% of the U.S. News & World Report "Honor Roll" Hospitals. Safecor Health has a track record of quality and for delivering significant cost savings to hospitals and health systems. Operating out of two state-of-the-art packaging centers, the Safecor Health team has expertise in pharmaceutical packaging, pharmaceutical distribution and supply chain, and healthcare information technology. To learn more about the company's services to reduce costs and enhance system efficiencies, please visit www.safecorhealth.com or contact Kristen Barrick ([email protected]).

ABOUT VESEY STREET CAPITAL PARTNERS

Vesey Street Capital Partners is a private equity firm specializing in buyouts of lower middle-market healthcare services businesses. VSCP invests on behalf of a wide array of Limited Partners, including asset management firms, family offices, pension funds, and other institutional investors. Since its inception, VSCP has consummated 36 transactions across nine platform businesses and has deployed ~$550 million of equity capital. For more information, please visit www.vscpllc.com.

Media Contact:
Tiffany Visconti, Investor Relations
Vesey Street Capital Partners
The Pearline House
428 Greenwich Street
New York, NY 10013
Email: [email protected]
(646) 847-2474

SOURCE Vesey Street Capital Partners