H.I.G. Capital – a leading global alternative investment firm with $70 billion of capital under management – announced that one of its affiliates has completed the acquisition of ITH Group Limited, a leading UK provider of aseptic pharmaceutical compounding services, in partnership with its founders, Adam Bloom and Karen Hamling. The terms of the deal were undisclosed.
ITH offers bespoke and injectable medication for patients with specialized medical needs, specifically needs that existing alternative treatments cannot meet. And within the compounding services industry, the Company holds market-leading positions in chemotherapy, total parenteral nutrition, and central intravenous additive services, offering high-quality and patient-appropriate medications for both adults and neonates.
The company also runs a leading digital pharmacy that provides critical, licensed medication to private and NHS patients. In partnership with ITH’s management team, H.I.G. aims to continue the Company’s strong track record of organic growth and support new initiatives, including increasing the Company’s production capacity. And ITH’s existing management team will remain in place, with Adam Bloom and Karen Hamling continuing as CEO and COO, respectively.
KEY QUOTES:
“I’m delighted to welcome H.I.G. as a key investor in the ITH Group. Since our founding in 2008, ITH has consistently grown by investing in our people and enhancing the services we provide to patients. Today, we are proud to be a leading provider of compounding services in the UK, supporting both the NHS and private healthcare sectors. As we look ahead, we remain dedicated to expanding our service offerings, advancing our expertise in the supply of critical compounded medicines, and further developing our pharmacy services.”
Adam Bloom, CEO of ITH Group
“We are delighted to be supporting Adam, Karen, and their team to further build upon ITH’s success. The Company’s track record of reliably providing compounded pharmaceuticals to NHS and private customers in an inherently undersupplied market, combined with H.I.G.’s history of supporting capacity expansion in its portfolio companies, underpins an exciting next chapter for ITH.”
John Harper, Managing Director and Head of the H.I.G. Europe Lower Middle Market LBO team in London
“Adam and Karen have built a highly impressive business providing a critical service to the UK health sector. The business has built a market-leading reputation for reliability through its unwavering focus on high-quality customer service. I am excited to join the business as part of H.I.G.’s investment to help deliver the next chapter of growth.”
Gordon Cameron, non-executive Chairman of ITH
