Pfingsten Partners and Hilco Equity Acquire Convergent Pharmacy.DEERFIELD, Ill. -- Pfingsten Partners, L.L.C. and Hilco Equity Partners are pleased to announce the acquisition of Convergent Pharmacy, Joplin, Mo., a division of Convergent Label Technology, Inc. Convergent Pharmacy is the leading national producer of pressure sensitive prescription labels used by drugstore chains, grocery chains, mass merchandisers, independent pharmacies An independent pharmacy is a retail pharmacy that is not directly affiliated with any chain pharmacy, such as CVS/pharmacy, Walgreens or Eckerd. However, owners of independent pharmacies will often form alliances with other independents and use their power in numbers to bargain for , and hospitals. The company will now operate as an independent business under the name Rx Label. Pfingsten Partners and Hilco Equity plan on providing financial and operational resources to support the company's future success. "Convergent Pharmacy has continuously pioneered new product developments driven by its technical expertise and innovation," comments John Underwood This article is about the early 17th century actor. For the U.S. Representative from Georgia, see John W. H. Underwood. John Underwood (d. October 1624) was an early 17th century actor, a member of the King's Men, the company of William Shakespeare. , Managing Director of Pfingsten Partners. "We anticipate supporting the company's growth within its current customer base while also entering new market channels and developing new product applications." Convergent Pharmacy is well known for its production of labels used by pharmacists This is a list of notable pharmacists.
dis·pense v. To prepare and give out medicines. prescription drugs prescription drug Prescription medication Pharmacology An FDA-approved drug which must, by federal law or regulation, be dispensed only pursuant to a prescription–eg, finished dose form and active ingredients subject to the provisos of the Federal Food, Drug, to consumers. The company is one of the few label converters with the capability to manufacture all three primary prescription label technologies: simplex, duplex (communications) duplex - Used to describe a communications channel that can carry signals in both directions, in contrast to a simplex channel which only ever carries a signal in one direction. and thermal roll. Recent projections have the United States' prescription label market growing eight percent annually. Numerous trends account for this increase including aging baby boomers See generation X. , increases in prescription drug consumption, rising discount pharmacy programs and stringent regulatory requirements Regulatory requirements are part of the process of drug discovery and drug development. Regulatory requirements describe what is necessary for a new drug to be approved for marketing in any particular country. will fuel continued growth in this market. ABOUT CONVERGENT PHARMACY: Convergent Pharmacy was formed by Convergent Label Technology, Inc., to research and develop new technologies for the retail pharmacy label market. The division was the first Lexmark(R) qualified producer of prescription labels. Convergent Pharmacy specializes in the production of pressure sensitive prescription labels as well as other thermal roll and pin feed labels for drugstore and grocery chains, mass merchandisers, independent pharmacies and hospitals. The division is headquartered in Joplin, Mo., and employs more than 100 people. ABOUT PFINGSTEN PARTNERS: Deerfield, Ill.-based Pfingsten Partners is an operationally oriented private equity firm formed in 1989 to make equity investments in middle market manufacturing, distribution and specialty publishing companies. Since completing its first investment in 1991, Pfingsten Partners has acquired 39 companies and built value by providing capital, corporate finance and operating resources necessary to improve operations and achieve profitable business growth at its platform companies in partnership with management. For more information on Pfingsten Partners, visit: www.pfingstenpartners.com. ABOUT HILCO EQUITY PARTNERS, L.P.: Hilco Equity Partners is a private investment fund focusing on acquiring companies that require additional management expertise and capital to address strategic and operating issues and/or opportunities. In addition, the firm invests growth capital in companies that will benefit from a financial partner as they pursue strategic acquisitions, operational expansion or capitalize on Cap´i`tal`ize on` v. t. 1. To turn (an opportunity) to one's advantage; to take advantage of (a situation); to profit from; as, to capitalize on an opponent's mistakes s>. new market opportunities. |
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