Our Partnerships

Axium Healthcare

Healthcare Services

Axium Healthcare Pharmacy, Inc. is a leading independent specialty pharmacy that provides comprehensive disease-management programs to meet the needs of patients with rare or chronic conditions.

III

Fund

III

Fund

Axium Healthcare

Location Lake Mary, FL

Year of Investment 2006

CEO Mark Montgomery

Status Exited 2012

Value Creation Initiatives

What did the business need?

Prior to Carousel’s investment, Axium was 90+% owned by its two founders who were not involved in the day-to-day operations of the business. Axium’s management was seeking a capital provider to recapitalize the founders out of the business and provide a pathway to meaningfully increase their ownership in the business through rollover, hard-dollar investment and an attractive equity incentive plan.    

What outcomes did we achieve?

Kroger acquired Axium in December 2012 to form a specialty pharmacy platform. 
Axium’s management team remained in leadership roles to execute the company’s growth plan and subsequently grew the business to over $2.0 billion of revenue. 

 

How did we create value?

  • Acquired Puerto Rico-based pharmacy and grew its revenues substantially
  • Invested in clinical and operational infrastructure, facilitating transition to managed care-focused business
  • Implemented enterprise-level IT system and launched proprietary web portals
  • Experienced dramatic growth in contracted managed care revenue
  • Focused on scale and differentiated service capabilities to enhance strategic value

Beyond delivering all of the capital we needed to acquire our company initially, Carousel Capital provided invaluable strategic assistance and continued support throughout the successful realization of our growth plan."

Mark Montgomery, CEO, Axium Healthcare, Former Portfolio Company