News & Press

Oct 21, 2020

Blue Wolf Capital Announces Expansion of Investment Team and Promotion of Joshua Cherry-Seto

Four Strategic Hires Support Continued Portfolio Growth

Shashank Patel Rejoins the Firm as Principal

Joshua Cherry-Seto Promoted to Managing Director

October 21, 2020, NEW YORK – Blue Wolf Capital Partners (“Blue Wolf”), a New Yorkbased private equity firm, today announced the expansion of its investment team with four strategic hires: Shashank Patel, Greg Singer, Ethan Cooper and David Meyers. Blue Wolf has also promoted Chief Financial Officer and Chief Compliance Officer Joshua Cherry-Seto to Managing Director.

Shashank Patel rejoins the firm as a Principal after working at Apax Partners and Providence Equity. He first joined Blue Wolf in 2011 and was previously involved in Blue Wolf’s investments in American Builders Supply, Snappy and Twin Rivers, among others

In addition, Greg Singer, a recent MBA graduate from The Wharton School at the University of Pennsylvania and formerly a Private Equity Associate at Nautic Partners, joins the firm as a Senior Associate; Ethan Cooper, formerly an Analyst in the Middle Market Group at Lazard, joins the firm as an Associate; and, David Meyers, formerly an Investment Banking Analyst in the Restructuring Group at Perella Weinberg Partners, also joins the firm as an Associate.

Joshua Cherry-Seto has been promoted to Managing Director, reflecting his role in managing a wide variety of tax, legal, structuring, compliance and capital raising issues across the portfolio, as well as the commitment he has demonstrated to the firm’s ESG strategy since joining Blue Wolf in 2013. He will continue to remain Chief Financial Officer and Chief Compliance Officer.

“We are thrilled to add such a talented group of experienced individuals to our growing investment team – Shashank, Greg, Ethan and David will each play a critical role in supporting both new and existing investments across our portfolio,” said Adam Blumenthal, Managing Partner of Blue Wolf Capital. “As we navigate this period of economic disruption, our team’s expansion not only reflects the continued growth of our investment pipeline in this environment, but it also ensures we are well-positioned to take advantage of the unique secular trends we expect to see accelerate in each of our investment verticals over the coming year.”

“I am very excited to rejoin the Blue Wolf team at a time when the firm’s long-standing ESGdriven approach to value creation is more vital to investors and to society than perhaps ever before,” said Shashank Patel, Principal at Blue Wolf Capital. “Working with Adam, Jeremy, Charlie, Bennet and other members of the Blue Wolf investment team was an important part of my career early on and I could not be more excited to be back at the firm today.”

Most recently, Blue Wolf announced the sale of Pharmaceutical Strategies Group’s marketleading 340B business to Omnicell after a nine-year investment, reflecting the firm’s long-term ESG-driven approach to creating value. Last year, Blue Wolf also expanded its investment portfolio with the acquisitions of Fox Rehab, ClearSky Health, Kirlin Design Build, and RHA Health Services.

About Blue Wolf Capital Partners
Blue Wolf Capital Partners LLC is a private equity firm that specializes in control investments in middle market companies. Leading by experience, and with a commitment to excellence, Blue Wolf transforms companies strategically, operationally and collaboratively. Blue Wolf manages challenging situations and complex relationships between business, customers, employees, unions, and regulators to build value for stakeholders. For additional information, please visit www.bluewolfcapital.com.

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Oct 2, 2020

Blue Wolf Capital Closes on Sale of Pharmaceutical Strategies Group’s 340B Business to Omnicell

PSG’s market-leading 340B Link business is being sold for $225 million nine years after Blue Wolf’s initial investment

PSG built an innovative program providing significant funding to safety net hospitals

Investment reflects Blue Wolf’s long-term, ESG-driven approach

October 2, 2020, NEW YORK – Today, Blue Wolf Capital Partners (“Blue Wolf”), a New York-based private equity firm, announced the completion of the sale of Pharmaceutical Strategies Group’s 340B business (“PSG”) to Omnicell, Inc. (NASDAQ:OMCL), a leading provider of medication management solutions and adherence tools for health systems and pharmacies. PSG’s 340B Link business is being acquired for $225 million, and the sale marks the exit of Blue Wolf’s last portfolio company in Blue Wolf Capital Fund II. Additional terms of the transaction were not disclosed.

Blue Wolf invested in PSG in 2011 in a rapidly changing healthcare environment. Building on vast regulatory expertise, and backed with Blue Wolf’s capital, PSG partnered with safety net hospitals to implement solutions to set up and administer a recently expanded federal program known as 340B, which today delivers a $14 billion annual lifeline from drug manufacturers to America’s rural and urban safety net hospitals. Blue Wolf’s long-term investment and focus on human capital and organizational transformation helped PSG become the industry leader in this vital part of America’s healthcare infrastructure.

“With our government and hospitals facing enormous financial pressure during the COVID-19 crisis, the value of funding from the 340B program enabled by PSG’s 340B Link solutions to hospitals that care for America’s most vulnerable population has been demonstrated more clearly than ever before. We’re incredibly proud to have partnered with David Borden and PSG to build this important business,” said Adam Blumenthal, Managing Partner at Blue Wolf. “PSG’s growth over the last nine years illustrates the benefit of being a long-term partner. It also showcases how we use our ESG lens to create value both for our investors and for society. This is an exciting time for the PSG business, and we see Omnicell as an ideal partner for its next phase of growth.”

“Blue Wolf has been a tremendous partner for PSG and has provided us with the necessary support and resources every step of the way as we built our 340B business,” said Dave Borden, Chief Executive Officer of PSG. “The Blue Wolf team’s knowledge of the complexities of the pharmaceutical marketplace and the broader healthcare value chain were essential in building this business, and we look forward to further expanding upon this growth with Omnicell.”

About Pharmaceutical Strategies Group (PSG)
For more than 25 years, Pharmaceutical Strategies Group (PSG), based in Plano, Texas, has been relentlessly advocating for clients as they navigate the complex and ever-changing challenges of drug cost management. PSG’s innovative consulting and technology solutions, including the proprietary data and analytics platform, Artemetrx, deliver actionable insights with exceptional financial and clinical value. As the largest independent pharmacy benefit consulting firm in the U.S., PSG functions as a strategic partner to self-insured employers, health plans, brokers, coalitions, and health systems, generating more than $4.8 billion in drug cost savings each year. For more information, please visit www.psgconsults.com.

About Omnicell
Since 1992, Omnicell has been committed to transforming the pharmacy care delivery model to dramatically improve outcomes and lower costs. Through the vision of the Autonomous Pharmacy, a combination of automation, intelligence, and technology-enabled services, powered by a cloud data platform, Omnicell supports more efficient ways to manage medications across all care settings. Over 6,000 facilities worldwide use Omnicell automation and analytics solutions to help increase operational efficiency, reduce medication errors, deliver actionable intelligence, and improve patient safety. More than 40,000 institutional and retail pharmacies across North America and the United Kingdom leverage Omnicell’s innovative medication adherence and population health solutions to improve patient engagement and adherence to prescriptions, helping to reduce costly hospital readmissions. To learn more, visit www.omnicell.com.

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May 21, 2020

ClearSky Health Opens New Inpatient Rehabilitation Hospital in Rio Rancho, New Mexico

Expected to bring about 100 additional jobs to community

ClearSky Health, a rehabilitative healthcare provider, today announced plans to open an inpatient rehabilitation hospital in Rio Rancho, New Mexico. It’s expected to create about 100 new healthcare related jobs locally.

The hospital, called ClearSky Rehabilitation Hospital of Rio Rancho, will provide post-acute rehabilitative care to individuals living with disabling injuries or illnesses such as strokes, brain injuries, hip fractures, Parkinson’s disease, or other debilitating events.

ClearSky Health signed a lease agreement with Westside Blvd. Capital Group, LLC, for the facility located at 2401 Westside Boulevard SE. Renovations will begin on the 33,292-square-foot building this month, with plans to admit the first patient in late fall.

“Sandoval Economic Alliance has worked with ClearSky Health since 2019, and we are thrilled to see our collaborative efforts come to fruition,” says Bridget Condon, Director of Business Development, Sandoval Economic Alliance. “This is a win for Rio Rancho and the surrounding communities not only because of the jobs ClearSky Health will create, but because of the quality care and services they will provide. ClearSky Health is a perfect example of the top-notch businesses that our community can attract. Their commitment to Rio Rancho bolsters our already strong healthcare reputation that companies and employees in all sectors find attractive. We are excited to celebrate their announcement today as well as their successes to come.”

“The assistance provided by the Sandoval Economic Alliance was imperative to our due diligence process,” says Darby Brockette, CEO of ClearSky Health. “We appreciate their support and that of the local community and medical leadership in helping us select the Rio Rancho location. The area currently has an unmet need for rehabilitative services that’s expected to grow as the area’s population continues to increase. We feel we can positively impact the community by providing a higher, specialized level of rehabilitative care that allows individuals to remain closer to their homes, families, and primary care providers.”

ClearSky Rehabilitation Hospital of Rio Rancho will consist of 25 private patient rooms and is expected to treat about 600 patients annually. Physician-led rehabilitative services will include physical, occupational, and speech therapy; rehabilitative nursing; case management; respiratory therapy, dietary services, and other specialized care.

“In addition to our inpatient services, we will continue to coordinate and manage our patients’ ongoing healthcare needs after they leave the hospital,” Brockette says. “This can include outpatient therapy, case management, or other services as needed.”

ClearSky Health is a premier rehabilitative healthcare provider that collaborates with healthcare facilities to improve, expand, or introduce rehabilitative services to communities served. Its management team has expertise in design, development, implementation, and operation of rehabilitative services.

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Feb 25, 2020

Blue Wolf Capital Partners Names John Boncher as Strategic Advisor

FEBRUARY 25, 2020, NEW YORK – Blue Wolf Capital Partners LLC (“Blue Wolf”), the New York-based private equity firm, today announced that John Boncher will be joining the firm as a strategic advisor. Mr. Boncher was most recently President and Chief Executive Officer of Cupertino Electric (CEI), one of the largest electrical engineering and construction firms in North America, before retiring in May 2018.

“We are excited to welcome John to our team and believe people like him are what differentiate Blue Wolf: we have a number of accomplished leaders as advisors who help our portfolio companies grow and succeed,” said Adam Blumenthal, Managing Partner of Blue Wolf. “John’s extensive experience driving strategic growth will be invaluable to the firm as we continue to expand our industrial & engineering services portfolio and solidify our relationships across the sector.”

Before being president and CEO of Cupertino Electric, Mr. Boncher served in a number of roles during his nearly thirty-year tenure at the company, including COO, branch manager for San Jose and San Francisco, and project manager.

“I am thrilled to join Blue Wolf, a firm with an established record of turning complexity into opportunity and leveraging ESG principles to build thriving companies that make the world a better place,” said Boncher.

Prior to his roles at Cupertino Electric, Mr. Boncher began his career at Bank of America. He received a Bachelor of Science in Economics from the University of California at Irvine.

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Oct 21, 2019