Eaton Veterinary Pharmaceutical (dba Roadrunner Pharmacy) acquired by Direct Vet Marketing
San Diego, CA (August 10, 2017) - HCAP Partners, a California-based mezzanine debt and private equity firm and recognized impact investor, today announced the sale of Eaton Veterinary Pharmaceutical (d/b/a Roadrunner Pharmacy), a leading specialty compounding pharmacy, to Direct Vet Marketing, parent company of Vets First Choice, the leading provider of technology enabled healthcare services for veterinary practices. Tim Bubnack, Managing Partner, managed HCAP Partners’ investment into Roadrunner and was active with the Company as a board director.
Founded in 1999, Roadrunner’s exclusive “pet only” pharmacy provides veterinarians and their patients with customized medications. Last year alone over 30,000 veterinary practices discovered why Roadrunner Pharmacy is veterinarians’ preferred pharmacy of choice, with quality control standards and service second to none. Roadrunner specializes in compounding veterinary medications and enhancing compliance with exciting, owner-friendly dosage forms, flavors and concentrations.
“I want to express our sincere appreciation for the investment and confidence that HCAP Partners brought to our company over seven years ago in the areas of product development, sales force expansion, and growth capital,” said Rob Eaton, founder and retired CEO of Roadrunner. “We are delighted with the transition to Vets First Choice to help achieve a new phase of growth and development."
"Our partnership with Roadrunner is a good example of HCAP’s value proposition to the underserved, lower, middle market. Roadrunner consistently achieved its goals and today has over 250 outstanding employees making a positive impact on the lives of pet and horse owners across the United States,” said Tim Bubnack. “We worked closely to facilitate the sale to Vets First Choice, and are proud that Roadrunner employees are joining a first class organization, led by an exceptional management team focused on driving better outcomes for veterinarian practice partners and their clients.”
Over the coming months, Vets First Choice plans to fully integrate Roadrunner’s offerings with its industry-leading prescription management platform. Veterinarians use the platform to manage active recommendations and new prescriptions to streamline workflow, automate refill reminders, and identify gaps to improve overall patient care.
About Vets First Choice
Vets First Choice is a leading provider of technology-enabled healthcare services for companion and equine veterinary practitioners. Founded in 2010, the company partners with veterinarians to create insight into gaps in patient care and offers professionalized pro-active prescription management to drive client engagement and improve compliance. Its services result in better prescription compliance, increased client engagement, and improved practice revenues and profitability. For more information, please visit http://www.vetsfirstchoice.com.
About HCAP Partners
HCAP Partners was founded in 2000 and is a provider of mezzanine debt and private equity for underserved, lower-middle market companies throughout California and the Western United States. The firm seeks to invest $2 million to $9 million in established businesses generating between $10 million and $75 million in revenues in the healthcare, software, services, and manufacturing industries. HCAP Partners has invested in over 60 companies since it was founded and through ongoing, active engagement with portfolio companies the team at HCAP Partners provides value-added resources to help optimize performance and increase enterprise value. The firm has been recognized as an ImpactAssets 50 fund four years running and, through its Gainful Jobs Approach, works to facilitate a positive impact on underserved businesses, their employees, and their communities through active portfolio engagement. Partners Tim Bubnack, Morgan Miller, and Frank Mora along with Principals Hope Mago and Nicolas Lopez lead HCAP Partners’ investment team. For more information, please visit http://www.hcapllc.com or call (858) 259-7654.