Miller Johnson Represents SpendMend in Acquisition of Turnkey Pharmacy Solutions and Elevate340B
The Transaction
In 2020, SpendMend, the leading provider of solutions to optimize the cost-cycle for the healthcare industry, completed the acquisition of Turnkey Pharmacy Solutions and Elevate340B. SpendMend immediately re-launched the joint end-to-end offering as SpendMend Pharmacy, specializing in compliance, optimization and growth services for 340B programs at hospitals, clinics and healthcare facilities across the U.S.
“The Turnkey and Elevate340B solutions integrate perfectly into our existing platform of solutions and will help us to realize a swift delivery of SpendMend Pharmacy to the marketplace,” says Dan Geelhoed, CEO of SpendMend. “Our mission is to help hospitals improve patient care through the delivery of our innovative cost-savings solutions. We believe our 340B solutions will go a long way to help support the bottom line of hospitals so they can focus on delivering superb patient care.”
Miller Johnson acted as legal advisor to SpendMend in the transaction. Miller Johnson’s team included Jordan Schwartz (Corporate; M&A), Dustin Daniels (Corporate; M&A), Hunter Reams (Corporate; Tax), Neil Williams (Tax), Tim Gutwald (Healthcare), Patrick Edsenga (Employment), Tripp VanderWal (Employee Benefits), and Jeff Gray (Employee Benefits).
SpendMend
(spendmend.com) SpendMend is the leading provider of healthcare cost savings solutions. Based in Grand Rapids, Michigan, SpendMend has over 25 years of serving the healthcare industry to assist in identifying the root-cause of financial leakage and provide actionable insights to prevent profit loss.
Turnkey Pharmacy Solutions
(turnkeyrxsolutions.com) TurnKey Pharmacy Solutions is a leading provider of 340B audit and compliance services and has performed over 1,000 340B audits at hospitals and clinics across the country. TurnKey established Elevate340B in 2016 as a consulting solution to help hospitals optimize and grow their 340B programs beyond the initial audit engagement.
Miller Johnson’s Mergers and Acquisitions Group
Miller Johnson’s M&A practice group collaborates with clients and their advisors to structure, negotiate and close deals and to navigate the challenges that can arise in mergers, acquisitions, dispositions and other business combination or investment transactions.
Miller Johnson is top listed for mergers and acquisitions with U.S. News & World Report’s Best Law Firms and is ranked by Chambers USA. At The M&A Advisor’s national awards and the ACG M&A Deals and Dealmakers regional awards, our attorneys are consistently involved in deals honored as winners and finalists. For further information, please contact Jordan Schwartz at (616) 831-1719 or Dustin Daniels at (616) 831-1737.