SSG Capital Advisors, LLC (“SSG”) served as the investment banker to Partners Pharmacy Services, LLC and certain affiliates (“Partners Pharmacy” or the “Company”) in the sale of substantially all assets to CS One, LLC (“CS One”). The sale was effectuated through a Chapter 11 Section 363 process in the U.S. Bankruptcy Court for the Southern District of Texas, Houston Division. The transaction closed in February 2026.

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.

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.

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. SSG’s ability to deliver value-maximizing solutions in complex Chapter 11 scenarios resulted in a transaction that preserved pharmacy operations and ensured the uninterrupted delivery of essential medications and services to long-term care facilities.

Other professionals who worked on the transaction include:

• Ronald M. Winters, Chief Restructuring Officer, and Tyler Brasher of Gibbins Advisors, LLC, financial advisor to Partners Pharmacy Services, LLC;
• Harvey L. Tepner, Independent Director to Partners Pharmacy Services, LLC;
• Patrick J. Potter, Dania Slim, Roland C. Reimers, L. James Dickinson and Amy West of Pillsbury Winthrop Shaw Pittman LLP, counsel to Partners Pharmacy Services, LLC;
• Andrew K. Glenn and Malak S. Doss of Glenn Agre Bergman & Fuentes LLP, co-counsel to CS One, LLC;
• Mark C. Taylor and Michael P. Ridulfo of Kane Russell Coleman Logan PC, co-counsel to CS One, LLC;
• Robert M. Hirsh, Kristian W. Gluck, Julie Goodrich Harrison and Jason Blanchard of Norton Rose Fulbright US LLP, counsel to the Unsecured Creditors Committee; and
• Mark Shapiro, Brandon Smith and Irene Byela of GlassRatner Advisory & Capital Group, LLC, financial advisor to the Unsecured Creditors Committee.