Letter From the CEO

Kurt OrlofskiDear Stakeholders,

We are very pleased to announce that as of November 1, 2019, PAI has been acquired by Enhanced Healthcare Partners (“EHP”), a leading New York-based private equity firm focused on investing in middle-market healthcare businesses, and Bourne Partners Strategic Capital (“BPSC”), a pharma services and consumer healthcare-focused investment firm. Finding the right partners for PAI was a long and careful process and will prove to be an incredible milestone for our organization.

I’m incredibly excited about the potential this unlocks for us in the years to come. We are already the leader in generic liquid pharmaceuticals, and together with the resources of our new owners we can undoubtably take our organization to the next level, specifically, by expanding our unit dose products into the LTC and hospital markets. Below is some background on who they are:

Enhanced Healthcare Partners is a leading healthcare-focused private equity firm dedicated to making minority and majority investments in founder and entrepreneur-led lower middle-market companies. The EHP team has managed approximately $1 billion in equity capital and is comprised of professionals with deep healthcare, operations, consulting and investment management experience. The firm seeks to invest in companies between $50-$250 million in enterprise value, driving deep partnerships with management and founders to catalyze growth and build great organizations. For more information on EHP visit: www.enhancedhealthcare.com.

Bourne Partners Strategic Capital is an investment firm specifically focused in the pharmaceutical, pharma services, OTC and consumer health sectors and is an affiliate of Bourne Partners, an Investment Banking advisory firm specializing in the same core areas. Some of BPSC’s active strategic investments include Covis Pharma, Millicent Pharma, iNova Pharma, AMRI, Novitium Pharma and WellDyneRx. As owners and operators with over 20 years of experience, Bourne Partners Strategic Capital strives to generate compelling returns to its investors by being a value-added investment partner in its core focus sectors, ensuring alignment among investors and management, and by working hand-in-hand with management and all stakeholders to grow business value over the long term. For more information, please visit www.bourne-partners.com.

Our commitment to innovation and growth has not wavered. Our mission at PAI is to participate in the creation of healthier lives by exceeding the expectations of those we serve with innovative treatments. We will continue our strategy to focus on our 3 basic principles: Quality, Supply and Growth. By delivering quality products with constant cost competitive supply, and regularly launching new products, we will continue to grow, succeed and ultimately add value to our patients’ lives.

The path to success starts with our most important asset, our employees. We are actively growing our team and looking to hire additional talent. Take a look at our open positions in the Careers section of our website and see if there’s a fit for you or someone you know. We would love to meet you and welcome you to the wonderful city of Greenville, voted by US News as one of the top 25 places to live in the US!

www.visitgreenvillesc.com
http://bit.ly/1Qsecgq

Thank you for your ongoing interest in PAI and for your support!

Sincerely,

Kurt J. Orlofski, CEO