SOURCE: Dresner Partners

Dresner Partners

July 11, 2011 15:26 ET

Dresner Partners Advised Carle Foundation in the Sale of Its Retail Pharmacy Business to Walgreen Co.

CHICAGO, IL--(Marketwire - Jul 11, 2011) - Dresner Partners, a leading FINRA-registered, middle-market investment bank and IMAP member firm, announced today that it advised Urbana, Illinois-based Carle Foundation (Carle) in the sale of its wholly owned retail pharmacy chain, Carle RxExpress (Rx), to Deerfield, Illinois-based Walgreen Co. Prior to its sale to Walgreens, Rx was a 10-site retail pharmacy chain in the Urbana-Champaign, Illinois area with the majority of its stores located inside medical office buildings.

John Snyder, Carle's Chief Operating Officer, remarked, "Carle's overarching objective was to continue providing high-quality pharmacy services to the Urbana-Champaign community, particularly the large patient base of Carle's multi-specialty physician practice. This transaction accomplishes that goal, and creates new opportunities for Carle."

Dennis Hesch, Carle's Chief Financial Officer, added, "Dresner was able to find a partner that we are confident will provide excellent service to our community and with whom we expect to have a highly complementary relationship well into the future."

Steven Dresner, founder and President of Dresner Partners, said, "Dresner has had the privilege of providing advisory services to Carle on multiple occasions. We count Carle among our most valued relationships. Congratulations to John Snyder and Dennis Hesch, and thanks to the Dresner Healthcare team of Ejaz Elahi and Pasha Kopelyan."

The transaction was managed by Ejaz Elahi, Director of Dresner Partners' Healthcare Practice. Ejaz Elahi stated, "This transaction is an example of an accelerating trend in the hospital industry. As hospitals review their clinical service portfolios and financial condition in the face of regulatory and reimbursement challenges, they are compelled to seek new ways to develop the most clinically effective and cost-efficient delivery systems possible. In the case of Carle, the sale of Rx will enable Carle to focus more closely on its core business while entrusting the provision of pharmacy services to a highly reputable operator."

About Dresner Partners
Dresner Partners is a FINRA-registered, middle-market investment bank headquartered in Chicago, Illinois. Founded in 1991, Dresner Partners provides financial advisory services, including mergers and acquisitions, institutional private placements of debt and equity, valuations, and strategic consulting services, to companies in a variety of industries both domestically and internationally. Dresner Partners' Healthcare Group provides a full spectrum of investment banking services to healthcare subsectors ranging from acute care to outpatient and ancillary services such as home health, ambulatory surgery, renal dialysis, clinical diagnostics and imaging, as well as managed care, life sciences, business services and information technology. Dresner Partners is also a member of IMAP, an exclusive global organization of leading merger and acquisition advisory service firms. Its affiliate company, Dresner Corporate Services, is a strategic communications firm specializing in public and investor relations. More information is available at

About Carle Foundation
The Carle Foundation operates a variety of health-related businesses to provide residents of east central Illinois a complete array of quality health services. Carle owns and operates Carle Foundation Hospital, a not-for-profit 315-bed Joint Commission accredited hospital in Urbana, Illinois. Carle Foundation Hospital's services include a full spectrum of acute care and outpatient services, including a heart and vascular institute, a cancer center, and the area's only Level I trauma center and Level III perinatal center. In addition, Carle offers a broad range of related services, including home health, assisted and independent living, pharmacy, therapy and rehabilitation, ambulance and sports medicine. More information is available at

Contact Information

  • For Media Inquiries:
    Stephen Mullin
    Director of Marketing & Business Development
    Dresner Partners

    For Healthcare Investment Banking Related Inquiries:
    Ejaz Elahi
    Director, Healthcare Group
    Dresner Partners

    Steven M. Dresner
    Dresner Partners