Nautic Partners, LLC today announced that it has partnered with management to invest in and recapitalize ExactCare® Pharmacy (“ExactCare”). ExactCare is a leading pharmacy focused on improving medication adherence for patients with chronic conditions and on multiple medications. ExactCare was founded by Dale Wollschleger in 2009 and is headquartered in Cleveland, OH. In connection with the Nautic investment, Doug Present, former CEO of MHA, was appointed chairman of the ExactCare board of directors and Jim Smith, former CEO of QoL meds, joined the board.
Dispensing 2 million prescriptions and serving 20,000 patients annually, ExactCare works with health insurers, home health agencies, and health systems to help patients on multiple medications adhere to their daily medication regimens. The company provides a high-touch care model, including in-home patient assessments to gather patients’ medication information, medication reconciliation to ensure safe and effective regimens, consistent communication with patients and prescribers to track patients’ medication changes, and innovative multi-dose packaging to simplify daily medication adherence. ExactCare operates two pharmacies—one in Ohio and one in New Jersey—and is licensed across 49 states nationwide. Since its founding, the company has grown rapidly as payers and providers increasingly look to ExactCare as a trusted partner in helping manage their most complex patients.
“ExactCare provides a service that addresses the core of a very difficult problem in healthcare. By helping patients stay compliant with their medications, ExactCare improves the quality of care to medically complex patients and lowers healthcare costs.” said Chris Corey, Managing Director of Nautic. “ExactCare delivers a compelling value proposition that benefits all healthcare constituents. We are thrilled to be partnering with Dale and the entire ExactCare team during the next phase of the Company’s growth.”
“We are excited to partner with Nautic, who shares our vision of growth and brings meaningful healthcare experience from across the pharmacy and at-home health services sectors,” said Dale Wollschleger, President and CEO of ExactCare Pharmacy. “We are passionate about the positive impact we are having on patient lives—and eager to help even more patients achieve better health. Nautic’s experience and relationships will be paramount to helping us further expand our care model and patient reach.”
“The benefits of medication adherence are well-known, which makes innovative pharmacy models like ExactCare extremely attractive,” continued Scott Hilinski, Managing Director of Nautic. “By maintaining consistent contact with patients, payers, and providers, we believe that ExactCare provides a truly differentiated service that aligns all parties around the shared goal of improved patient care. We look forward to working with ExactCare and helping it continue to develop partnerships that will build upon its positive impact.”
Locke Lord and Epstein Becker Green acted as counsel to Nautic Partners. ExactCare is Nautic Partners’ eighth investment from its most recent fund, Nautic Partners VII, and continues Nautic’s successful history of investing in the healthcare industry.
About ExactCare Pharmacy
ExactCare is a full-service pharmacy that specializes in medication management for patients with multiple disease states and on multiple medications. The company’s comprehensive pharmacy solution includes a unique in-home patient assessment; medication reconciliation and medication therapy management performed by clinical pharmacists; refill management; multi-dose adherence packaging; and home delivery. ExactCare’s approach to pharmacy helps patients overcome the challenges of polypharmacy and healthcare providers and payers achieve better clinical and economic outcomes. For more about ExactCare, visit www.exactcarepharmacy.com.