Making good on a 2010 goal to build and strengthen its interests in the healthcare industry, The Riverside Company this month announced the acquisition of Physicians Pharmacy Alliance (PPA). The North Carolina-based company specializes in drug dispensing to at-home chronically ill patients. PPA was founded in 2002 and has been recognized as one of the fastest growing companies in the region by the Triangle Business Journal.

Riverside, a private equity firm with offices in Cleveland, considers itself a generalist when it comes to acquisitions; nevertheless, the company has made strides specializing in the healthcare, education and training industries. Riverside benefits from the knowledge and input of senior advisers in these fields. "We bring them into the fold to complement our investment professionals," says Graham Hearns, Riverside's director of marketing and communications.

Also this month, Riverside announced the add-on acquisition of CareFacts Information Systems, a St. Paul, Minnesota provider of software for home care, hospice and public health organizations. CareFacts will join Riverside's HEALTHCAREfirst, which provides web-based software to home care and hospice agencies.

SOURCE: The Riverside Company
WRITER: Diane DiPiero