Ganse Apothecary sold to health care equity firm

Lancaster’s Ganse Apothecary has been acquired by WindRose Health Investors LLC, a New York-based health care private equity firm.

Terms were undisclosed.

Ganse also merged with Terrapin Pharmacy, an existing WindRose portfolio business headquartered in Annapolis, Maryland, creating a leading behavioral health pharmacy platform in the mid-Atlantic.

Ganse is a specialty, long-term care and retail pharmacy that serves patients with severe and persistent mental illness and intellectual and developmental disabilities, while Terrapin serves patients through community-based behavioral health and long-term care facilities across Maryland, Pennsylvania, New Jersey, Virginia and the District of Columbia.

Terrapin and Ganse serve approximately 7,500 patients in these four states and D.C.

“We are thrilled for the future of the combined business and are excited to partner with such a well-respected provider as Ganse,” Mark Peterson, executive chairman of Terrapin’s board of directors, said in a release. “Ganse’s long history of providing high quality, value-added pharmacy services to this population aligns perfectly with Terrapin and our core mission.”

Greg Ganse, CEO and president of Ganse, will assume a leadership role at Terrapin.

“We are incredibly excited to partner with Terrapin Pharmacy,” Ganse said. “It was important for us to find a partner that shared the values and principles on which Ganse was founded over 50 years ago. I’m confident we have found that in Terrapin and that the combined company’s patients will continue to receive the high-quality care they deserve.”

Paula Wolf is a freelance writer