HKW exits GMD Distribution with sale to McKesson Corp

U.S. private equity firm Hammond, Kennedy, Whitney & Co (HKW) has sold GMD Distribution Inc, a distributor to the Canadian pharmaceuticals industry. No financial terms were disclosed for the deal, which saw GMD sold to McKesson Corp, a U.S. pharmaceuticals distributor. Oakville, Ontario-based GMD, which specializes in supplying specialty ophthalmic pharmaceuticals to clinics, was recapitalized by HKW in early 2015. The transaction included the affiliated Ophthalmic Direct LP. During the investment period, the company acquired Adjuvantz Inc, a Canadian provider of patient support programs.

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