Partners Pharmacy Services

Company Profile

Partners Pharmacy is a leading provider of long-term care pharmacy services, delivering comprehensive medication management solutions – including unit-dose packaging, daily delivery, pharmacist consulting, and seamless integration with electronic medication administration records – to skilled nursing, assisted living, and alternative care facilities. In addition to its regional pharmacy operations across New Jersey, Massachusetts, and Connecticut, the Company also operates a virtual hospice pharmacy platform that supports providers nationwide through technology-enabled clinical oversight and coordinated dispensing services.

Situation

For more than 30 years, Partners Pharmacy has been a trusted leader in the institutional pharmacy industry. Beginning with the onset of the COVID-19 pandemic and continuing in the years that followed, persistent declines in facility census reduced medication volumes and placed ongoing operational and financial pressures on the business. In response, the Company implemented proactive initiatives focused on cost optimization, operational efficiency, and pharmacy consolidation. While these efforts enhanced performance and improved financial flexibility, continued census pressures led the Company to pursue a Chapter 11 process in August 2025 to strengthen its balance sheet and position the business for long-term success.

Solution

SSG was engaged to lead a comprehensive post-petition marketing process, canvassing a wide market of potential strategic and financial buyers and soliciting competing offers to the stalking horse bid submitted by the Company’s pre-petition secured and DIP lender, CS One, LLC. Following extensive outreach and negotiations, CS One’s bid was determined to represent the highest and best value for substantially all assets. The transaction preserved pharmacy operations, ensuring uninterrupted delivery of critical medications and services to long-term care facilities and underscores SSG’s ability to deliver value-maximizing solutions in complex Chapter 11 scenarios.