SSG Capital Advisors acted as the investment banker to Restore Holdings LLC on the sale of substantially all of the assets of Restore Health Pharmacy LLC, TCS Labs, LLC and Belvidere Labs, LLC in separate transactions to strategic parties. The transactions closed in April 2016.
 
RH, TCS and Belvidere are leading full-service wellness solution providers dedicated to the custom preparation of individualized, compounded medications.  The Company possesses approximately 10,000 unique compounded pharmaceutical formulation recipes used to treat a wide variety of medical conditions and its pharmacists use state-of-the-art technology and innovative, quality-controlled compounding techniques to ensure that finished medications meet physicians' exact specifications.  The pharmacies excel in the formulation of drugs that are not commercially available as well as diagnostic laboratory and clinical services and training to a network of over 8,500 physicians and other healthcare providers across the country.
 
In response to declining revenue due to increased regulatory oversight and pressure on insurance reimbursement for compounding pharmacies as well as integration issues from acquisitions, Restore Health subsequently closed the Madison, Wisconsin headquarters and pharmacy, while continuing to operate out of the St. Petersburg, Florida and Highland Park, New Jersey facilities.  The Company filed for protection under Chapter 11 of the U.S. Bankruptcy Code for the Western District of Wisconsin and retained SSG as its exclusive investment banker to conduct a sale of its assets. SSG conducted a comprehensive marketing process to a wide universe of strategic and financial buyers and determined that the sale of RH assets to Pharmacy Solutions and TCS and Belvidere pharmacies to Pharmacy Innovations would ultimately generate the highest value for the Company's stakeholders.
 
Pharmacy Solutions is a specialty pharmacy service provider that specializes in the art of compounded medications and specialty medications and vitamins.  Pharmacy Innovations specializes in preparing custom compounded medications in accordance with physician prescriptions for patients with a variety of medical conditions.  SSG's knowledge of the compounding industry enabled key stakeholders to maximize value by engaging with strategic parties able to preserve therapies and serve patients.
 
Other professionals who worked on the transaction include:

• Leonard G. Leverson of Leverson Lucey & Metz SC, counsel to the Debtors;
• Michael E. Banks of Haus, Roman and Banks LLP, counsel to the Debtors;
• William F. Savino and Timothy P. Lyster of Woods Oviatt Gilman LLP, counsel to Pharmacy Innovations; and
• Robert W. Van Every of Lundberg Law Office, counsel to Pharmacy Innovations.

SSG Contacts on this deal are:

• J. Scott Victor, Managing Director
• Teresa C. Kohl, Director
• Brian McAuley, Analyst

SSG Capital Advisors is an independent boutique investment bank that assists middle-market companies and their stakeholders in completing special situation transactions. We provide our clients with comprehensive investment banking services in the areas of mergers and acquisitions, private placements, financial restructurings, valuations, litigation and strategic advisory. SSG has a proven track record of closing over 300 transactions in North America and Europe and is a leader in the industry.