Harpeth Capital Serves as Financial Advisor to Proxsys Rx

Harpeth Capital is pleased to announce that Proxsys Rx, a provider of comprehensive pharmacy management and post-discharge solutions to hospitals, has received a growth equity investment from Atlanta-based Fulcrum Equity Partners with participation from members of the senior management team.  The investment will be used to grow the Company’s sales team as it expands into new markets and further leverages its relationships with key referral sources, as well as to make further investments in its data-driven solutions aimed at improving patient outcomes and hospital workflow.

Based in Birmingham, Alabama, Proxsys Rx offers hospitals a flexible, partnership-driven model centered around the outpatient pharmacy.  With a foundation of either an ownership or management model, the Company provides deeply-impactful ancillary services that extend beyond the outpatient pharmacy including “meds-to-beds” services, employee benefit design, and a variety of medication adherence programs, including the more recent launch of specialty programs targeting select chronic patient populations.

Proxsys Rx was founded in 2013 by George Salem, CEO and a serial entrepreneur with over four decades of healthcare experience, believing that outpatient pharmacies could play a more meaningful role in the improvement of patient outcomes and a reduction in hospital readmissions.  Over the years, the business has grown to include expertise in 340B program savings and compliance and employee benefits cost savings, helping the Company’s expanding client base of primarily community-based hospitals achieve millions of dollars in vital funds.

Said Mr. Salem, “We greatly appreciate the efforts of Harpeth Capital to guide us through the process of meeting with a number of potential partners, remaining deeply engaged during financial, legal and operational diligence, and negotiating and ultimately closing a transaction with an ideal partner that understands our team’s objectives and shares a common vision for future growth.  The investment they made to gain a deep understanding of our unique model was an important part of our success.”

Commenting on the transaction, Harpeth Capital President Chuck Byrge said, “It was an honor to work with a great group of individuals whose mission is to make a difference in their communities and in the lives of the patients they serve.” Adam Landa, Managing Director, added “We first met George in 2009 and value a relationship built over many years.  We are very excited about their partnership with Fulcrum and look forward to following their continued growth.”

The Birmingham office of Maynard Cooper & Gale provided legal counsel to the board of Proxsys Rx.