Guardian Pharmacy Services, which provides pharmacy services to long-term healthcare facilities, raised $112 million by offering 8 million shares at $14, the low end of the range of $14 to $16. The company originally planned to offer 6.8 million shares at the same range. At pricing, Guardian commands a fully diluted market cap of $869 million.
Guardian Pharmacy Services provides a suite of technology-enabled services tailored to serve the needs of residents of long-term health care facilities (LTCFs), primarily in its target markets of assisted living facilities (ALFs), and behavioral health facilities and group homes (collectively BHFs). More than two-thirds of its annual revenue for each of the past three years has been generated from residents of ALFs and BHFs, with the remainder generated primarily from residents of skilled nursing facilities. As of June 30, 2024, Guardian's 50 pharmacies served approximately 174,000 residents in approximately 6,700 LTCFs across 36 states.
Guardian Pharmacy Services plans to list on the NYSE under the symbol GRDN. Raymond James, Stephens Inc., and Truist Securities acted as joint bookrunners on the deal.
