CarePoint Partners Expands Presence in Texas and Louisiana with Acquisition of ArTex Medical
CarePoint now provides infusion services in 25 sites across nine states.
CINCINNATI, June 16, 2011 /PRNewswire/ -- CarePoint Partners (CarePoint), a leading alternate site infusion therapy and specialty pharmacy provider, announced that it has acquired the infusion therapy business of ArTex Medical, Inc. (ArTex). ArTex, which serves patients in Dallas and Texarkana, Texas and Shreveport, Louisiana, marks CarePoint's 13th acquisition in less than four years. CarePoint now operates five locations in Texas and seven in Louisiana. CarePoint is one of the largest independent infusion therapy providers in the United States, serving over 3,000 patients per day at 25 sites across nine states.
"The ArTex infusion therapy acquisition brings several benefits to CarePoint Partners," said Dana Soper, CEO of CarePoint. "The three sites of service further expand our reach within Texas and Louisiana. ArTex's therapy mix strengthens our position as a leading home infusion provider. Lastly, and most importantly, ArTex has built and developed a high-caliber team of employees, and we are excited to bring them into the CarePoint family."
Donald Reid, President of ArTex, commented, "Although we were approached by numerous companies interested in buying our pharmacy business, none seemed to be the right fit. After several conversations with Dana Soper and Steven Jones, however, it was clear that CarePoint shared our vision, and we felt strongly that partnering with CarePoint was the right decision for our patients and employees. CarePoint demonstrated tremendous professionalism during the entire process, and we recommend that any infusion pharmacy company contemplating a transaction should contact CarePoint."
"The support systems in place at CarePoint Partners provides an operational framework that allows our team members to focus almost completely on clinical services and patient care," added ArTex Executive Vice President James Sheets. "Being a part of CarePoint will better enable us to continually improve our cardiology, nutrition, infectious disease, and neurology clinical support programs."
The acquisition of ArTex was completed on June 4, 2011. Financial terms of the transaction are not being disclosed.
About CarePoint Partners
Started in 2007, CarePoint Partners operates a network of regional home infusion and specialty pharmacies in the United States. Based in Cincinnati, Ohio, CarePoint provides these services via 25 sites in nine states (Florida, Georgia, Louisiana, Massachusetts, Ohio, Pennsylvania, Rhode Island, Texas and West Virginia). Infusion therapy involves the administration of medications and nutrients using intravenous, subcutaneous and epidural methods. Home infusion therapy allows patients to receive IV medications without the inconvenience or cost of a hospital visit.
CarePoint Partners was recently recognized as one of the fastest growing private companies in Greater Cincinnati. Dana Soper, CEO of CarePoint Partners, was also a recipient of the 2011 AGC Cincinnati Deal Maker's Entrepreneur Award.
For additional information on CarePoint, visit the company website at www.carepointpartners.com.
SOURCE CarePoint Partners
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