Article

QoL Meds and Genoa Healthcare Receive Final Approval to Combine Companies

Integration to create leader in behavioral healthcare specialty pharmacy solutions
Providence, RI

QoL meds, LLC (“QoL”) and Genoa Holding Company, Inc. (“Genoa” and collectively, the “Combined Company”) announced today that Nautic Partners has completed the transaction to combine their businesses. The combination will do business as Genoa, a QoL Healthcare Company and creates the nation’s market leading behavioral health specialty pharmacy company.

In addition, we are pleased to announce that John Figueroa will become Chief Executive Officer and Director of the Combined Company. Jim Smith, current QoL CEO, will continue to play a key role as a Director of the Combined Company’s Board of Directors.

Mr. Figueroa has nearly 25 years of experience in the healthcare industry, including leadership roles at substantial public and private companies. He has served as CEO and Chairman of the Board of Apria Healthcare, one of the nation’s leading home healthcare companies, CEO of Omnicare Corporation, a Fortune 500 healthcare services company that provides pharmaceuticals and related services to long-term care facilities and specialized drugs for complex disease states, and as President of McKesson’s US pharmaceutical distribution business (a publicly traded Fortune 500 company). Earlier in his career he worked in both sales and operations for Baxter Healthcare. John was a commissioned officer in the United States Army, is a graduate of UCLA, and has an MBA from Pepperdine University.

Regarding Mr. Figueroa’s appointment, Mark Peterson, Executive Vice President added, “John brings extensive experience in leading multi-billion dollar companies in the healthcare services industry – experience that will be invaluable as we bring together these two very successful market leaders. His proven track record includes integrating large businesses, growing sales and implementing operational initiatives, which lead to enhanced consumer care services. I am confident that John’s leadership will enable this combined business to succeed in an increasingly complex and evolving healthcare market.”

Jim Smith commented, “It has been a privilege to serve QoL meds for six years as CEO. As I’ve visited our pharmacies around the country, I’ve witnessed first-hand the quality care and service that our employees provide to our consumers every day and the successful business we’ve developed. I am very pleased with our recruitment of John Figueroa as CEO and I look forward to continuing to serve on the Board of Directors.”

“We are ready to begin the process of putting these two successful companies together,” said John Figueroa, Chief Executive Officer. “We will build upon each organizations’ best practices to deliver even better care for our consumers and value for our partners. We will continue our common goal of making a positive impact on the lives of individuals with a mental illness and those that care for them.” The Combined Company will provide specialty behavioral health pharmacy services to more than 300,000 individuals annually, spanning 34 states with a network of more than 200 pharmacies and rapidly growing. Together, QoL meds and Genoa Healthcare will be the leading provider of pharmacy services dedicated to the behavioral health community and those affiliated with managing the cost and quality of their care. The company will continue its high level of service to all constituents and will continue to deliver better outcomes and economics for all key healthcare stakeholders and its consumers.

About QoL meds

Founded in 1999 and based in Pittsburgh, QoL meds provides specialty pharmacy care with a mission to improve the Quality of Life of behavioral health consumers. Through full-service pharmacies in Community Mental Health Centers and Federally Qualified Health Centers across the country, QoL meds’ on-site pharmacy model offers easier access to medication, increases compliance and provides valuable feedback to prescribers.

About Genoa Healthcare

Founded in 2002 and based in Seattle, Genoa Healthcare is a specialty pharmacy provider for the behavioral health community. Genoa is improving consumer care and saving centers time and money throughout the country. Genoa strives to make a positive impact within each of its partner clinics, and improve care and outcomes for patients. For more information, visit www.genoa-qol.com.