“We believe that with this financing, Salveo is well positioned for future growth.” Added David Fitzgerald, General Partner of Petra Capital Partners, “We are pleased to have partnered with Three Arch, NewSpring and Salveo’s founders to provide the Company with both equity and debt financing to support the Company’s future growth. Together, we have assembled a strong team of industry executives and growth investors experienced within healthcare services.” “The Salveo management team welcomes our new partners in NewSpring Capital, Three Arch Partners and Petra Capital Partners. With their support we have exciting plans to expand and extend our services to meet the complex needs of our patients and customers,” said Jeff Freedman, CEO of Salveo.
Salveo Specialty Pharmacy, Inc., a private company headquartered in Saint Petersburg, Florida, was formed to create a leading specialty pharmacy organization serving patients and customers across the country. Salveo will acquire, integrate and grow select specialty pharmacy organizations that share its philosophy of providing superior customer service and clinical patient care to the chronically ill population. With its initial acquisition of Echo Specialty Pharmacy Services in New York, Salveo currently serves over 6,500 chronic patients across multiple disease states. Three Arch Partners was formed to provide young companies with access to relevant clinical and business resources, as well as capital. To date, Three Arch has helped create, build and fund more than 100 important new healthcare companies. These companies have often become the clinical and market leaders in their respective fields, and have generated strong returns. The firm only invests in healthcare and focuses on opportunities in medical devices and healthcare services.
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