Wedgewood Pharmacy has acquired Front Range Laboratories (FRL) in Loveland, Colorado, a full-service testing laboratory that has been a partner of compounding pharmacies for more than 25 years. The transaction closed on Feb. 23; terms were not disclosed. Excel Partners served as financial advisor to Swedesboro-based Wedgewood Pharmacy.
FRL provides analytical and microbiological testing as well as product stability and other services to support the testing needs of pharmacies across the country. The company was founded by Michael Travis and Jennifer Travis, who will remain with the business and be part of the Wedgewood Pharmacy organization. Wedgewood plans to maintain the FRL brand, which is respected throughout the compounding pharmacy profession as a high-quality service provider.
Marcy A. Bliss, CEO of Wedgewood, commented: “Wedgewood Pharmacy and Wedgewood Connect, our 503B outsourcing facility, are significant clients of Front Range Laboratories. As we expand our reach in different sectors of compounding pharmacy, upcoming regulatory changes will increase demand across our companies for sterility and stability testing. By investing in a proven, high-quality in-house testing laboratory, we will be able to decrease testing turnaround time, better control our costs, and gain greater flexibility to respond rapidly to changes in demand. We will, of course, continue to do business with other specialized, high-quality testing laboratories. All of these will provide direct benefit to the more than 72,000 veterinarians in 29,000 practices we serve and their customers.”
Michael Travis added: “We’re in a strong position to contribute to Wedgewood Pharmacy’s rapid growth, as we have the immediate capacity to triple or quadruple the testing volume we can serve. We have proven to be a trusted partner to numerous compounding pharmacies, and we will continue to serve their needs as well. Wedgewood Pharmacy’s growth in animal health continues to outpace the industry. We expect that its investments will fuel our growth, in volume, capabilities, and staff.”
Wedgewood Pharmacy is the leading and largest compounding pharmacy in the United States devoted exclusively to animal-health. The company is recognized by 99% of veterinarians, and was chosen by 8 in 10 veterinarians within the past year. It serves more than 60,000 veterinarians and hundreds of thousands of animals throughout the U.S. every year.
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