TEAMM Pharmaceuticals will become part of Florida-based Accentia in a deal announced Thursday.
Terms were not disclosed. Accentia is based in Tampa.
Accentia already has two subsidiaries, Accent RX, which is a pharmacy operation, and The Analytica Group, a consulting services company.
TEAMM, a specialty pharmaceutical development company, includes product development, distribution services and drug commercialization.
TEAMM, which was launched in 2000, raised $6.5 million in venture capital last year and had built a staff of some 50 people, including sales representatives and support staff.
The company also acquired the Histex line of products from Andrx Laboratories in July and promotes Diabetic Tussin C. These products compete in a $2 billion plus cough, cold and allergy marketplace in the United States.
TEAMM landed its venture capital from a group of investors led by Alabama-based Harbert Management in August.
“We are very excited to merge with Accentia. The combined entity, along with its established business partnerships, will further the company’s market position and product pipeline for the future,” said Martin Baum, president and chief executive officer of TEAMM, in a statement. “This merger accelerates TEAMM’s growth plan by more than 2 years.”
Accentia’s CEO, Frank O’Donnell, said the company would make other acquisitions.
TEAMM: www.teammpharm.com
