Cision PR Newswire
LO3 Capital Announces Empower Pharmacy Investment
News provided byLO3 Capital LLC
Sep 19, 2023, 9:33 AM ET
NEW YORK, Sept. 19, 2023 /PRNewswire/ -- LO3 Capital, a private investment firm committed to providing lower-middle market companies with transformative capital, announced today that it provided a senior subordinated debt investment to support Empower Pharmacy (Empower) with growth capital.
Based in Houston, TX and led by its founder, Shaun Noorian, Empower is the leading 503A compounding pharmacy and FDA registered 503B outsourcing facility serving patients, providers and pharmacies with personalized medicine throughout the health and wellness markets. As the premier compounding pharmacy and outsourcing facility in the U.S., Empower delivers innovative pharmaceutical solutions to more than 15,000 prescribers and 2,000 institutions across all 50 states.
"We're excited to partner with LO3 Capital and our other investors to accelerate our growth and continue to expand our reach to patients and healthcare providers. LO3's flexible capital allows us to continue to invest in our people, technology and infrastructure. These investments will continue to expand patient access to quality, affordable compounded medications," Shaun Noorian, President and CEO of Empower, stated.
"Empower is a clear leader in the compounding pharmacy industry," said Glenn Harrison, LO3's managing partner. "We're impressed with the talented, founder-led management team and are confident that Empower is well positioned to succeed in the rapidly evolving healthcare landscape."
About LO3 Capital
LO3 Capital is a minority owned private investment firm committed to helping lower-middle market companies grow. The firm has offices in Nashville, New York and Dallas and targets business with over $3 million of EBITDA across a variety of industries. LO3 Capital partners with management teams, business owners, and private equity firms to finance organic growth, acquisitions, recapitalizations, and ownership transitions. LO3 Capital was previously a division of Live Oak Growth Capital and continues to manage the Live Oak Growth Capital funds. For more information, please visit lo3capital.com.
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SOURCE LO3 Capital LLC
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