ButcherJoseph & Co. Advises Neighborhood LTC Pharmacy on Sale to Employees |
Tuesday, 19. November 2019 14:00 |
---|
St. Louis, Nov. 19, 2019 (GLOBE NEWSWIRE) -- ButcherJoseph & Co. (“ButcherJoseph”) served as exclusive financial advisor to Neighborhood LTC Pharmacy, Inc. (“Neighborhood” or the “Company”) on its sale to the Neighborhood LTC Pharmacy, Inc. Employee Stock Ownership Plan (“ESOP”). The transaction closed September 30, 2019. Headquartered in Lincoln, Nebraska, the Company is a leading, regional institutional pharmacy that utilizes advanced robotic technology to provide advanced, pharmaceutical packaging solutions to healthcare facilities. Scott Louderback, Neighborhood’s president shared, “We are proud to have a 100% employee-owned pharmacy where everyone will share in the experience of owning a business and allow our culture of community first to thrive for generations to come. Being truly locally owned will give our customers the confidence they have chosen a pharmacy that is invested in ensuring each person receives the utmost care.” “Each employee having an ownership stake in the pharmacy will only increase our already top-notch customer service and care,” expressed Blake Henning, vice president of behavioral health services. “As an employee, it’s thrilling and motivating to know that we have an opportunity every day to directly affect the growth of the company,” shared Pat Christensen, pharmacist. ButcherJoseph’s David Lake commented, “Since Neighborhood was such an attractive business, we explored several options. A leveraged ESOP sale provided both liquidity to the seller and an opportunity for employees to participate in the future growth of the Company." Scott will remain President of the Company, post-transaction.
About ButcherJoseph & Co. CONTACT FOR NEIGHBORHOOD: Marissa McMahon Vice President of Assisted Living Services Neighborhood LTC Pharmacy PH: 402-488-1184 Email: marissa@neighborhoodrx.com www.neighborhoodrx.com CONTACT FOR BUTCHERJOSEPH & CO.: Linda Thurman Director of Marketing ButcherJoseph & Co. 6 Cardinal Way, Suite 801 St. Louis, MO 63102 PH: 314-549-4045 Email: linda.thurman@butcherjoseph.com www.butcherjoseph.com |
Related Links: |
Author: Copyright GlobeNewswire, Inc. 2016. All rights reserved. You can register yourself on the website to receive press releases directly via e-mail to your own e-mail account. |