Wedgewood Pharmacy, a Swedesboro, N.J.-based compounding pharmacy specializing in animal health, addiction medicine and urology, received a majority equity investment from Chicago-based New Harbor Capital.
The amount of the deal was not disclosed.
In conjunction with the transaction, Lucy Malmberg, who acquired the business with her late husband, George, in 1981, is stepping down from her role as CEO but will remain involved in strategic decision making as chairman of the board.
Marcy Bliss, long-time president of Wedgewood Pharmacy, will assume the position of president and CEO.
Wedgewood Pharmacy prepares customized medications for people and their pets when FDA–manufactured drugs cannot meet their needs. Compounded medications are prescriptions and medication orders that are written by physicians, veterinarians and other legally authorized prescribers, and prepared by specially trained pharmacists and pharmacy technicians.
Accredited by the Pharmacy Compounding Accreditation Board (PCAB®) for compliance with PCAB pharmacy compounding accreditation standards, the company serves more than 36,000 prescribers and hundreds of thousands of patients throughout the U.S.