Link-age Ventures Closes Investment in Skilled Care Pharmacy

CINCINNATI, Ohio, Jan. 8, 2013 (GLOBE NEWSWIRE) -- via PRWEB - Skilled Care Pharmacy, Inc. ("Skilled Care"), a leading institutional pharmacy focused on senior living providers located in Mason, OH, is pleased to announce the formation of a partnership with, and an investment by, Link.age Ventures, Inc. ("Link.age"), a private equity firm focused on investing in leading companies that provide products, services and technology to the aging marketplace.

The transaction, which was agreed to on December 31, 2012, enables Link.age to own a significant equity position in Skilled Care and to partner with Skilled Care in growing and guiding the company to future success. The infusion of long-term capital by Link.age will be used to position the company for growth and to accelerate the adoption of new technologies, such as remote dispensing.

The goal of the partners is to triple current company revenues over the next five years. Larry Galluzzo, who formed the company in 1981, will remain as CEO of Skilled Care. Mr. Galluzzo also retains majority equity ownership of the company. Nancy Mlinarik will remain as Vice President, and will retain an ownership interest in the company.

In addition to the equity investment, Link.age and Skilled Care are working together to provide continuing superior customer service to all of the clients of Skilled Care. The two companies are also working together to build new "value add" programs that will allow customers of Skilled Care to enjoy continued success in the changing healthcare environment.

According to Mr. Galluzzo, "We are excited to build on the relationships we have formed with Link.age and its members over the last 12 years, and we look forward to taking both that relationship and our company to a higher level."

Scott Collins, CEO of Link.age, added, "We believe that Skilled Care represents a truly unique opportunity for Link.age and our members. The pharmacy services that our members receive are a critical component of their ability to provide high-quality cost-effective care for their residents. Having a strong partnership, such as ours, with Skilled Care can only bode well for improving the already high level of service our members can provide to their residents."

John Hopper, Managing Director of Link.age Ventures, stated, "Working with Larry and his team to create a relationship that makes sense for all parties and then making it come to fruition has been very rewarding. We feel very confident that the combination of Link.age, our members and Skilled Care will be unique and unbeatable in the marketplace."

For more information on Skilled Care, visit http://www.SkilledCare.com.

For more information on Link.age and Link.age Ventures, visit http://www.LinkageConnect.com.

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Link-age Ventures Closes Investment in Skilled Care Pharmacy