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Guardian Pharmacy Services Announces Proposed IPO

Published Oct 03, 2023 22:20
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© Reuters.

Guardian Pharmacy Services (GRDN) has filed for a proposed IPO.

The company describes itself as: "We are a leading, highly differentiated pharmacy services company that provides an extensive suite of technology-enabled services designed to help residents of long-term health care facilities (“LTCFs”) adhere to their appropriate drug regimen, which in turn helps reduce the cost of care and improve clinical outcomes. We emphasize high-touch, individualized clinical, drug dispensing and administration capabilities that are tailored to serve the needs of residents in historically lower acuity LTCFs, such as assisted living facilities (“ALFs”), and behavioral health facilities and group homes (collectively “BHFs”). More than two-thirds of our annual revenue for each of the past three years has been generated from residents of ALFs and BHFs, which are our target markets, while the remainder has been generated primarily from residents of skilled nursing facilities (“SNFs”). Additionally, our robust capabilities enable us to serve residents in all types of LTCFs. We are a trusted partner to residents, LTCFs and health plan payors because we help reduce errors in drug administration, manage and ensure adherence to drug regimens, and lower overall healthcare costs. As of June 30, 2023, our 43 pharmacies served approximately 156,000 residents in approximately 5,800 LTCFs across 28 states."

Raymond James will serve as lead underwriter.

Guardian Pharmacy Services Announces Proposed IPO
 

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