Frazier Healthcare Partners announced the completion of its acquisition of Altruix, a behavioral health-focused pharmacy provider serving patients with severe mental illness, substance use disorders, and intellectual and developmental disabilities.
Headquartered in Hunt Valley, Maryland, Altruix operates 17 pharmacies across the Mid-Atlantic region and serves more than 800 behavioral health providers and over 32,000 patients each month. The company’s care model combines clinical support, medication adherence programs, specialized packaging solutions, and access to complex behavioral health therapies to improve outcomes for patients with serious behavioral health conditions.
As part of the transaction, Frazier Executive in Residence Randy Hyun has been appointed Chief Executive Officer. Hyun brings extensive experience in pharmacy services, managed care, and pharmaceutical supply chains. Most recently, he served as President of Evernorth Health System Services. His previous leadership roles include Chief Executive Officer of CarepathRx, President and CEO of Aetna Medicaid, and numerous senior positions during an 18-year tenure at McKesson.
Greg Ganse, Altruix’s former Chief Executive Officer, will remain involved with the company as an investor and advisor to support leadership transition efforts and long-term strategic initiatives.
Frazier also assembled a board of directors featuring several healthcare industry veterans, including Doug Present, former Chairman and CEO of MHA and former Chairman of Genoa Healthcare, PharmScript, and ExactCare; John Rex, former President and CFO of UnitedHealth Group; Eric Palmer, former President and CEO of Evernorth; and Mark Peterson, former CEO of Genoa Healthcare.
Founded in 1991, Frazier Healthcare Partners is a healthcare-focused private equity firm that has raised more than $11 billion in capital and invested in over 200 companies across the healthcare sector.
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“Frazier has spent several years evaluating the behavioral health pharmacy sector and believes Altruix has established itself as a leading platform serving patients with complex behavioral health conditions. We are thrilled to partner with Randy and the broader Altruix team as the Company continues to build on its leadership position.”
Philip Zaorski, General Partner, Frazier Healthcare Partners
“Altruix has built a highly differentiated platform with deep clinical expertise, long-standing provider relationships, and an unwavering focus on patient care. I’m excited to work alongside the team to continue growing the platform, enhancing clinical capabilities, and improving access and outcomes for behavioral health patients across the country.”
Randy Hyun, Chief Executive Officer, Altruix
“Frazier’s deep healthcare expertise and bench of operational resources make them an ideal partner for Altruix. Their investment in the business will support continued growth, operational enhancements, and further strengthen our ability to deliver high-quality care and service to behavioral health providers and patients.”
Greg Ganse, Former Chief Executive Officer, Altruix
