Private equity firm FFL Partners has completed a strategic investment in Janus RX, a rapidly growing behavioral pharmacy headquartered in Montgomery, Alabama. The funding will support Janus’s continued expansion into new markets and strengthen its ability to meet the rising demand for specialized pharmacy services tailored to patients with serious mental illness (SMI). Terms of the transaction were not disclosed.
Founded in 2016, Janus RX provides comprehensive behavioral pharmacy solutions for long-term care patients with SMI, serving more than 40 locations across 19 states. The company offers complex medication management, on-site injection services, clinical consulting, specialized compliance packaging, and 24-hour pharmacist support. Janus’s high-touch, patient-centric model has helped it achieve strong growth as behavioral healthcare needs increase nationwide.
FFL’s investment will enable Janus to accelerate its de novo expansion strategy by opening new facilities in underserved regions where demand for specialized behavioral pharmacy services is skyrocketing. The partnership also gives Janus access to FFL’s deep healthcare expertise and strategic support network, enhancing its operational infrastructure and positioning it for long-term scalability.
The behavioral pharmacy sector is benefiting from favorable market trends, including the increasing prevalence of severe mental illness, broader adoption of long-acting injectable medications, and a healthcare industry shift toward outpatient and lower-acuity care settings. These dynamics have created a significant opportunity for companies like Janus that combine clinical expertise with tailored medication management solutions.
The investment also continues FFL’s focus on behavioral health and pharmacy services. The firm has previously backed several healthcare platforms, including Apex Infusion, a leading provider of ambulatory and home infusion services, and Community Medical Services, a major provider of medication-assisted treatment for opioid use disorder.
Support: FFL was advised by Kirkland & Ellis LLP as legal counsel and Bass, Berry & Sims PLC as regulatory counsel. Bradley Arant Boult Cummings LLP served as legal counsel to Janus.
KEY QUOTES:
“We are thrilled to partner with the talented Janus management team, led by Founder Daniel Mims, as they bring its high-touch service and patient-centric model into new geographic markets where there is high demand. As the need for SMI patient treatment grows, Janus’s approach to providing reliable medication management and comprehensive pharmacy services has enabled it to grow significantly over the past few years.”
Karen Winterhof, Partner, FFL Partners
“FFL’s experience in scaling the strategic growth of behavioral healthcare companies and its collaborative approach to working closely with management teams will help us continue to expand our platform. This will ensure our patients receive high-quality behavioral pharmacy services, while also helping us identify additional strategic growth opportunities.”
Daniel Mims, Founder and Chief Executive Officer, Janus RX
“This investment is another example of our proprietary sourcing and value creation SEED strategy, a multi-year approach that allows us to identify and invest in high-performing businesses like Janus.”
Chris Harris, Managing Partner, FFL Partners
