Guardian Pharmacy Services (GRDN) has filed for a proposed initial public offering.
The company describes itself as follows: “We are a leading, highly differentiated pharmacy services company that offers a comprehensive range of technology-enabled services designed to help residents of long-term health care facilities (“LTCFs”) maintain their appropriate medication regimen. This, in turn, helps reduce the cost of care and improve clinical outcomes. We emphasize highly personalized, clinical, medication dispensing and administration capabilities tailored to the needs of residents in historically lower-service LTCFs, such as assisted living facilities (“ALFs”) and behavioral health facilities and group homes (collectively “BHFs). “). More than two-thirds of our annual sales in each of the last three years have been generated from residents of ALFs and BHFs, which are our target markets. while the remainder was generated primarily by residents of skilled nursing facilities (“SNFs”). Additionally, our robust capabilities enable us to serve residents of all types of LTCFs. We are a trusted partner for residents, long-term care providers and health insurance payers as we help reduce medication administration errors, manage and ensure adherence to medication regimens, and reduce overall healthcare costs. As of June 30, 2023, our 43 pharmacies served approximately 156,000 residents in approximately 5,800 LTCFs in 28 states.”
Raymond James will serve as lead underwriter.
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