.png)
Austin, TX – Prodigy Health, a leading specialty pharmaceutical distributor, is pleased to announce a series of significant developments that will further strengthen its position in the healthcare supply chain industry, further supporting Prodigy Health’s growth. These milestones include a direct investment of $6.5 million from A-CAP, increasing its asset-based loan facility with Gibraltar Business Capital to $30MM, and adding three of A-CAP’s Healthcare division leaders along with two seasoned independent board members with 20-30 plus years of senior executive level experience in specialty drug supply chain to Prodigy Health’s Board of Directors over the last 90 days.
On October 21, 2024, Prodigy Health finalized a new tranche of funding with direct investment from A-CAP, a New York-based asset manager with over $6 billion in assets under management, solidifying a pivotal partnership designed to fuel long-term growth, with ongoing investment in the form of PIK interest to conserve capital in the business aimed at ongoing growth. As part of this partnership, industry veterans from A-CAP’s Healthcare division have joined Prodigy Health’s Board of Directors, bringing invaluable leadership experience and deep industry insight.
Simultaneously, Prodigy Health closed a new credit line with Gibraltar Capital, securing an initial $30 million and up to $40 million to support expanding specialty pharmaceutical inventory to meet our growing customer base. This strategic move underlines Prodigy Health’s commitment to delivering exceptional service and innovative solutions to clients across the United States.
These transactions have further energized Prodigy Health’s ongoing mission to revolutionize specialty pharmaceutical distribution, as reflected in its recent performance. Throughout 2024, GPO (Group Purchasing Organization) contract sales have increased by 300%, underscoring the company’s ability to meet healthcare providers and their patients' rapidly evolving needs.
“This infusion of capital and the addition of to our Board marks a transformative step in our journey to redefine healthcare supply chains,” said Ty Dishman, CEO of Prodigy Health.
“Their guidance, combined with our increased asset-based loan facility from Gibraltar, positions us to amplify our reach and enhance our offerings, all while staying true to our values of genuine care, advanced technology, and unparalleled service.”
Additional details regarding credit line expansion:
https://www.gibraltarbc.com/blog/gibraltar-expands-abl-facility-for-pharmaceutical-distributor-to-30mm/
Prodigy Health is a specialty pharmaceutical distributor established in 2001 in Austin, TX. Prodigy Health is an independent, privately held organization that delivers the right solutions for its customers, emphasizing personalized service, cutting-edge technology, and trusted partnerships. The company’s dedication to efficiency, reliability, and patient-centric values has led to exceptional growth and ongoing success in markets across the United States.
For more information, visit ProdigyHealth.com or contact:
Media Contact
Faith Kouadio
Communications Specialist, Prodigy Health
877-693-4376
