Private equity firm Elysian Capital has backed Vertical Pharma Resources in a deal that allows two of the company’s four founders to exit the business.
Private equity firm Elysian Capital has backed medicine supplier Vertical Pharma Resources in a deal that allows two of the company’s four founders to exit the business.
In addition to the funding from Elysian, Surrey-based Vertical Pharma also received debt from Clydesdale Bank. The total value of the deal, which will support the company’s expansion, was not disclosed.
Ashok Patel, the current managing director, and Girish Patel, the procurement director, remain with the company, while Chai Patel, who founded and sold the Priory Group alongside Elysian founder Ken Terry, joins Vertical Pharma as chairman. Anant Pandya and Ramesh Patel are the two directors exiting the business.
Trading as Integrated Pharmaceutical Services, Vertical Pharma supplies pharmacies with medicines based on standard drug compounds but adapted to meet the needs of individual patients. The company was founded in 2001 and mainly supplies pharmacies in London and the South East.