Generic pharmaceutical manufacturing and distribution company.
Acquired by Ares Management2020-08-11
Global generic pharmaceutical development and manufacturing platform
Staffing cuts, with nursing staff and experienced personnel replaced by lower-cost, less-qualified personnel
Aggressive billing practices, such as upcoding procedures and diagnoses to maximize reimbursements
Discontinuation or reduction of unprofitable but essential services, such as specialized drug manufacturing for smaller patient populations
Extraction of management fees and other costs that reduce resources available for maintaining quality and innovation
Announcement of 'optimization' initiatives, potential leadership changes
Staffing cuts begin, with a focus on reducing labor costs
Decline in product quality and availability, increased wait times for customers, and potential service line reductions
Potential for drug shortages, quality control issues, and potential bankruptcy or sale to another operator
Other companies that followed a similar path after PE acquisition
Monitor for any changes in the availability, quality, or reliability of Alvogen's drug products
Be aware of potential shortages or quality issues, and consult healthcare providers for alternatives
Voice concerns to regulators and consumer protection agencies if significant declines in product quality or availability are observed
Community-focused healthcare
Integrated managed care consortium