Ancor Acquires WellSpring Pharmaceutical Corporation

Ancor Capital Partners is pleased to announce the acquisition of WellSpring Pharmaceutical Corporation, based in Sarasota, Fla., 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. Ancor teamed with Sentinel Capital and Yukon Capital to complete the transaction."WellSpring represents the 15th acquisition of a healthcare company for Ancor and combines our experience in contract manufacturing, pharmaceutical sales and OTC products. We are very pleased to have teamed with Sentinel and Yukon on this acquisition," said J. Randall Keene, Managing Partner at Ancor Capital Partners."WellSpring is an innovator that provides quality pharmaceutical products and related services across a diverse set of end markets. The opportunity to invest alongside Ancor was also a strong incentive for us," said Eric D. Bommer, Partner at Sentinel. "We believe WellSpring is well positioned to accelerate its growth, and we look forward to working with its management team and Ancor in taking WellSpring to the next level."Dr. Robert A. Vukovich, WellSpring's Founder, President and CEO, reinvested in the business and will remain on the company's Board of Directors. Additionally, Ms. Bonnie Feeney and Ms. Wendy Shusko have reinvested in the transaction and will both 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 and Sentinel, 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," said 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."