WindRose Health Investors has announced it has completed an investment in Third Wave Recovery Systems (TWRx).
TWRx, based in Las Vegas, is a pharmaceutical rebate manager. The company provides services to hospitals, long-term care (LTC) facilities and select specialty physician groups.
WindRose, based in New York, pursues control equity investments in healthcare companies. Founded in 2000, the firm invests in a broad range of industry segments, including outsourced services to payors and health systems, technology-enabled services, healthcare providers and value-added distribution.
Terms of the investment were not disclosed.
In conjunction with WindRose’s investment, TWRx acquired SRX. Based in New York, SRX is a provider of pharmaceutical rebate management services for the skilled nursing and LTC industries.