PROVIDENCE, R.I.--(BUSINESS WIRE)--SPS Health, a leading value-based care solutions provider serving post-acute pharmacies and pharmacy benefit managers, announced a strategic growth investment from Nautic Partners ("Nautic"). Nautic Partners is a private equity firm with deep healthcare experience and invested in SPS out of its tenth fund, which has over $3 billion of committed capital. This partnership will support SPS Health’s further investment in innovative technology and clinical and operational solutions supporting its pharmacy and PBM clients.
Neil Bansal, Chief Executive Officer of SPS Health, said, “As drug spend across the country continues to rise, we are empowering our clients with innovative solutions to deliver quality patient care in a cost-efficient manner. I’m proud of the experienced team we have assembled at SPS Health, our technology-enabled solutions in pharmacy benefit administration, and the trust we’ve built with our clients as we drive meaningful impact in their businesses. We are excited to announce the partnership with Nautic, especially given their deep experience and relationships in pharmacy services, as we look forward to our continued innovation and expanding the reach of SPS Health.”
“A key tenet we look for in our investments at Nautic is an experienced, disciplined, and motivated leadership team,” commented Chris Corey, Managing Director at Nautic. “The SPS Health team exemplifies these qualities and, importantly, shares in our vision to bring improved and more affordable pharmacy care to post-acute settings.” Keith Farrow, Managing Director at Nautic, added, “We have been impressed with the depth of SPS Health’s relationships with leading pharmacy and PBM clients, and we look forward to working together and investing to expand on their significant industry impact.”
Doug Present, Executive Chairman of SPS Health, commented, “Since I began working with the SPS team a year ago, I’ve been deeply impressed with the organization’s focus and commitment to client service. I have worked successfully with many members of the senior leadership team at SPS, as well as with the entire Nautic team, in the past. I am truly excited to have this team of people assembled to continue providing value to a client base that has been important to me for over 20 years.”
About SPS Health
SPS Health is a leading value-based care solutions provider to pharmacies and pharmacy benefit managers through its companies LithiaRx, Trinity Healthcare Solutions, and StatimRx. SPS Health companies deliver innovative technology-enabled clinical and operational solutions to leading long-term care, behavioral health, correctional, specialty, and worker’s compensation pharmacies, and PBMs. For more information, see https://spshealth.com/. SPS Health's principal investor is Nautic Partners, whose pharmacy services investment experience includes Genoa Healthcare, ExactCare Pharmacy, LDI Integrated Pharmacy Services, CarepathRx, and EmpiRx. For a full list of Nautic investments, please visit www.nautic.com.