Jul 12, 2018

Letco Medical, L.L.C. Acquired by Current Management Team

WAYNE, Pa.July 12, 2018 /PRNewswire/ -- LS2, LLC, comprised of Letco Medical, LLC's ("Letco" or the "Company") current management team, formally announces the acquisition of all outstanding shares of Letco from Court Square Capital Partners ("Court Square").  Members of the Letco management team are:

  • Doug Bowman, Chief Executive Officer
  • Greg Lake, Chief Sales and Marketing Officer
  • Todd Way, Chief Financial Officer
  • Steve Bencetic, Chief Administrative Officer

Headquartered in Wayne, PA, Letco has been owned by Court Square since 2010 when it acquired The Harvard Drug Group ("Harvard").  The current management team, all former leaders of Harvard, have been running Letco's day-to-day operations since January 2017. 

Doug Bowman, CEO, said, "We are excited about the opportunity for Letco to be 100% associate owned.  Our talented and engaged team of associates, combined with our immense optimism about the future of compounding, make this the opportune time for the acquisition.  Customers will continue to experience our core focus on enhancing the profitability of their business.  We are devoted to the ongoing development and delivery of value-added solutions that culminate in Letco being the supplier of choice for profit-conscious compounding pharmacies everywhere."

The new ownership team is committed to supplying only the highest quality products to its valued customers and is proud of Letco's unblemished record with the FDA.  In addition, they expect the Company to continue its investments in technology, innovative customer programs, and strategic acquisitions – now, and into the future.

Steve Bencetic, CAO, said, "We could not have asked for a better partner than Court Square in guiding Letco's growth over the past seven-plus years, and in positioning the organization for our team to complete this transaction.  We sincerely thank them for this significant opportunity for Letco.  As an associate-owned and operated business, we are now uniquely situated to make calculated investments that better align the Company with emerging market trends and customer needs."

The Management Team was supported in this transaction by advisors from the law firm of Pepper Hamilton LLP with financing provided by PNC Bank.

Detailed information about the team that is changing the face of the compounding industry in the U.S. may be found at www.letcomed.com/team/.

About Letco Medical, L.L.C.

Letco Medical, L.L.C. ("Letco Med"), an employee owned company headquartered in Wayne, PA, is the supply partner of choice for profit-conscious compounding pharmacies everywhere.  Letco Med has invested heavily in building a company that can serve the needs of compounding pharmacists today, tomorrow and into the future, with a full line of products and complementary programs and services.  With a dedicated focus on the U.S. compounding market, Letco Med provides a wide and comprehensive portfolio of safe and consistent top-quality chemicals, compounding supplies and equipment at highly competitive prices.  Letco Med's product line includes chemicals covering a broad range of therapeutic categories, as well as supplies, equipment, capsules, pre-made topical bases and oral delivery vehicles.  In addition, Letco Med carries a deep assortment of dosage forms and delivery systems.

Since its inception in 1993, Letco Med has earned and built a reputation as one of the most innovative companies in the compounding industry.  Letco Med is focused on unwavering quality, exemplified by the company's industry-leading quality assurance programs, stringent quality control procedures and an unblemished record with the FDA.

SOURCE Letco Medical, L.L.C.

Market Buzz

Feb 14, 2019 RXinsider is Proud to Welcome our Newest Partners!
Feb 12, 2019 Albertsons Companies Pharmacies Adopt TemperPack's ClimaCell™ Packaging
Feb 07, 2019 Fagron Launches New Brand Identity and Purpose
Feb 07, 2019 Medicine-On-Time has come together with Clinical Support Services, a leader in M...
Feb 04, 2019 Letco Med and Ananda Professional Partner to Bring CBD and Education to Compound...
Jan 30, 2019 Texas Children’s Hospital Expands Partnership with Omnicell
Jan 16, 2019 Helmer Scientific Launches the First Professional Medical-grade Refrigerators
Jan 15, 2019 The Compliance Team™ celebrates 25 years of accreditation transformation
Jan 11, 2019 CORE Higher Education Group partners with Pharmacists Mutual
Jan 10, 2019 SCA Pharma Awarded National Outsourced I.V. Admixture Services Agreement with Pr...
Jan 08, 2019 Tutela Welcomes the Center for Organ Recovery and Education
Dec 13, 2018 PharmaLink Launches Updated Website
Dec 11, 2018 Jorgenson Issues Annual List of Major Challenges Facing Hospital and Health Syst...
Nov 29, 2018 BD Expands Integrated Medication Management to Help Tackle Hospital Drug Diversi...
Nov 13, 2018 Akro-Mils 2019 Catalog
Nov 13, 2018 New Data Shows Many Health System Pharmacies Considering Consolidated Distributi...
Oct 17, 2018 Retail Management Solutions Celebrates 20 Years of Pharmacy POS Innovation
Oct 17, 2018 Hardy Diagnostics Releases a New Locking Lid Feature for all Contact Plates
Oct 15, 2018 Transaction Data Systems Partners with Community Pharmacies to Fight the Opioid ...
Oct 12, 2018 1st Patient-Centered Respiratory Home™ Accreditation Recipient Named
Oct 10, 2018 Augusta University Health Selects Omnicell’s Industry-Leading Medication Manag...
Oct 04, 2018 QS/1® Honors Pharmacists at NCPA
Oct 03, 2018 Innovation to Move to New Campus in New York’s Southern Tier to Accommodate St...
Oct 03, 2018 Equashield and Max Care Medical to Distribute Leading Closed System Transfer Dev...
Oct 01, 2018 Global Needlefree Closed System Transfer Device (CSTD) Market 2018 by Manufactur...
Sep 23, 2018 Prudential Overall Supply Celebrates Dan Clark's 50th Employment Anniversary
Sep 19, 2018 RXQ Compounding Expanding in Albany
Sep 17, 2018 Middlesex Hospital Bolsters Pharmacy Safety and Compliance by Extending Wolters ...
Sep 14, 2018 Synergy Medical once again among Canada's Top 500 Companies
Sep 10, 2018 American Associated Pharmacies Taps FDS to Bring its Members a State-of-the-Art ...

RXinsider Product Overview Videos