Symmetric Capital Completes Minority Investment in BioRx
- Fairmount Partners
- Nov 23, 2010
- 2 min read
CINCINNATI, OH – November 23, 2010 – Symmetric Capital is pleased to announce its minority investment in BioRx, LLC, a national specialty pharmacy providing customized therapies and services for rare but costly chronic diseases. The equity investment by Symmetric represents BioRx’s first institutional financing.
Founded in Cincinnati in 2004 by industry veterans Phil Rielly and Eric Hill, BioRx has grown quickly by providing a distinct, high-touch set of services to patients, their families, and physicians. With a national infrastructure, BioRx serves patients with bleeding disorders, immune deficiencies, autoimmune disorders, and nutritional/digestive disorders.
The relationship between Symmetric and BioRx began several years ago, well before the founders decided to raise capital. Rob Walsh, a Managing Partner at Symmetric, was introduced to Phil and Eric by the entrepreneurs at Hemophilia Resources of America, a similarly focused specialty pharmacy in which Mr. Walsh had previously led an investment. “We are thrilled to have established a partnership with Eric and Phil. With our experience in this market and their proven success in improving their customers’ quality of life, we look forward to working with the team to build upon BioRx’s impressive track record.”
As a result of the investment, Rob Walsh and Dan Doyle, also a Managing Partner at Symmetric, will join BioRx’s board of directors.
About BioRx
BioRx is a highly specialized pharmacy and infusion services provider that provides treatments for patients with ultra-orphan and rare, chronic diseases. In addition to pharmacy and infusion services, BioRx also serves health plans and payer organizations with comprehensive data analytics and outcomes reporting. The company’s clinical staff reaches patients in all 50 states and operates dispensing facilities in Ohio, Massachusetts, North Carolina, Iowa, Minnesota, Arizona and California. To learn more, visit www.biorx.com.
About Symmetric Capital
Symmetric Capital is a private equity firm investing in profitable growth companies throughout the United States and Canada. With the flexibility to invest in either minority or majority ownership positions, Symmetric structures transactions that meet both the immediate and the longer-term objectives of owners and managers – all without changing a company’s entrepreneurial culture or introducing excessive debt that restricts growth. Since 1990, Symmetric’s principals have built dozens of successful, collaborative partnerships, beginning in each case with an equity investment to fund growth, shareholder liquidity, debt repayment, a management-led buyout or a strategic acquisition. Symmetric targets companies with at least $10 million in revenues and $2 million in operating profits. Sectors of interest include business and financial services, healthcare, technology, software, education, and consumer and industrial products. With over $200 million in committed capital under management, Symmetric typically invests $5-25 million in each company. Larger transactions can be funded in partnership with our limited partners or with other co-investors. For more information on Symmetric, please visit www.symmetriccapital.com.
About Fairmount Partners
Fairmount Partners is one of the largest investment banking groups in the Mid-Atlantic region. The firm specializes in advising middle-market growth companies with mergers and acquisitions, capital raising and strategic advice. Fairmount’s key focus areas include: Healthcare, IT and Business Services, Software & Technology and Industrial & Consumer businesses. Fairmount has completed transactions throughout North and South America, Europe and Asia. For more information, visit: www.fairmountpartners.com.