Ancor acquires WellSpring Pharmaceutical

Ancor Capital Partners is pleased to announce the acquisition of WellSpring Pharmaceutical Corporation based in Sarasota, Florida and Toronto, Ontario. WellSpring is a manufacturer and marketer of specialty prescription and over-the-counter (OTC) products in North America. The company also offers contract manufacturing through its production plant, located in Ontario, Canada.

“WellSpring represents the fifteenth acquisition of a healthcare company for Ancor and combines our experience in contract manufacturing, pharmaceutical sales and OTC products” said J. Randall Keene, Managing Partner at Ancor Capital Partners. He continued, “we are excited to partner with the management team to further drive the growth of the company.”

Dr. Robert A. Vukovich, WellSpring’s founder, president and CEO, reinvested in the business and will remain on the Company’s Board of Directors. Dr. Vukovich, commented “I am pleased to have found a buyer who will continue the high quality standards that WellSpring has established and feel I have passed the Company into very capable hands who will continue and accelerate the growth.”

Additionally, Ms. Bonnie Feeney and Ms. Wendy Shusko have reinvested in the transaction and will continue as a part of the senior management team of WellSpring. Wendy Shusko is Chief Financial Officer and Chief Operating Officer of WellSpring Pharmaceutical Corporation USA.

“Under our new ownership with Ancor we believe we can achieve the aggressive growth opportunities in the market and deliver medicines and products of the highest quality to those who need them,” commented Ms. Shusko.

Ms. Feeney, President and Chief Operating Officer of WellSpring Pharmaceutical Canada Corp. is responsible for overseeing the manufacturing operation of the primary production facility located in Oakville, Ontario, Canada. Ms. Feeney commented, “this transaction allows us to continue to utilize our state of the art manufacturing facility in Canada through a new phase of growth.”

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