Guardian Pharmacy Services, Inc., a healthcare company specializing in pharmacy services for long-term care facilities (LTCFs), has announced plans for its initial public offering (IPO). The company intends to offer 6.75 million shares of Class A common stock at an expected price range of $14 to $16 per share. If priced at the midpoint of $15, the IPO would raise approximately $101.3 million and value the company at roughly $913 million. Guardian plans to list its stock on the New York Stock Exchange under the ticker symbol “GRDN.”

Guardian, headquartered in Atlanta, GA, operates a network of 50 pharmacies that serve over 174,000 residents in 6,700 LTCFs across 36 states. These facilities include skilled nursing homes, assisted living centers, and behavioral health facilities. The company’s services are designed to streamline medication management for these facilities, using automated systems for drug dispensing and offering comprehensive support such as billing, patient profile management, and integration with drug plans. This tech-enabled approach helps improve clinical outcomes and reduce healthcare costs for LTCF residents.

Guardian’s revenue for the year ended June 30, 2024, was an impressive $1.1 billion, with a net profit of $37.7 million. The company has built a reputation as a leader in the LTC pharmacy sector, providing critical support to care facilities that manage large numbers of patients with complex medical needs. By enhancing its capabilities through the IPO, Guardian aims to expand its operations further and continue innovating in pharmacy service delivery.

The IPO is being led by Raymond James, Truist Securities, and Stephens Inc. as joint bookrunners, and the offering is expected to price after the market closes on September 25, 2024. The funds raised will likely be used for general corporate purposes, including expanding Guardian’s pharmacy network and investing in further technology advancements.

This IPO presents a significant opportunity for investors looking to enter the healthcare and long-term care sectors, particularly as the aging population in the U.S. continues to grow, increasing demand for specialized pharmacy services in LTCFs​.