BUSINESSES FOR SALE

For Sale:

Pharmalab Enterprises Inc.

OPPORTUNITY

A new buyer can acquire the assets of Pharmalab, securing of a turn-key, fully operational pharmaceutical manufacturing facility. Most importantly, the purchaser of the assets of Pharmalab can take advantage of the high value of the plant’s buildout and its U.S. Food and Drug Administration registration. The Assignee continues to receive orders from customers, which a buyer can accept and fulfill at a ramped-up pace with a clean balance sheet.

Gross Revenue: $15,984,214 (2021)
FF&E: $2,917,255
Inventory: $787,279 Retail value as of 06/30/2022
Established: 2004 (18 years)
Location: Miami, FL
Employees: 46 Full-time, 50-100 Staffing Agency (varies on production)
Leased Facility: 32,000 Sq. Ft. Manufacturing Building

Pharmalab Enterprises, Inc. was founded in 2004 and is a private label contract manufacturer of liquid and semi-solid over-the-counter (OTC) medications, dietary supplements and cosmetic products. Pharmalab is FDA registered as a drug manufacturing facility and has been added to NSF International’s NSF/ANSI 455-2 Dietary Supplements Good Manufacturing Practice (GMP) certification and NSF/ANSI 455-4 Over The Counter (OTC) Drug Good Manufacturing Practice (GMP) certification. Capable of offering full turn-key solutions, Pharmalab can provide formulation, manufacturing, filling, and packaging services for a wide range of products and volumes. Quality and compliant centric practices are the foundation of Pharmalab’s success which allow for steady growth and reliable production. With an extensive portfolio of over 200 formulations, Pharmalab is able to remain flexible by adopting the latest in Just-In-Time inventory management and employing lean manufacturing practices. All equipment is adjustable and capable of handling various packaging presentations and fill volumes. On July 21, 2022, PharmaLab Enterprises, Inc. filed a petition to commence an Assignment for the Benefit of Creditors proceeding in accordance with Florida Statute 727. Since the petition date, the Assignee has continued operations with the goal of successfully selling the company as a going concern.

For Sale:

iRISE Spine & Joint Institute

OPPORTUNITY

iRISE Spine & Joint Institute (“iRISE” or the “Company”) provides full spectrum spinal and extremity care, offering imaging, chiropractic, physical therapy, pain management and surgical services.

COMPANY OVERVIEW

LOCATIONS & STAFF

Tennessee (3):
Tennessee footprint offers full continuum of care (i.e., chiro, pain management, ortho surgery, and imaging)

Florida (11):
Locations are throughout Central and South Florida offering a full continuum of care

• Founded in 2001 in Miami, iRISE’s unique modelspecializes in providing the full continuum of spine and extremity treatment for patients
• Chiropractic/PT Care: The company provides chiropractic or physical therapy services across 14 locations (some co‐located with ortho care) throughout Florida and Tennessee
• Pain Management and Surgical Services: The company has 9 pain management / surgical service locations that offer services ranging from steroid injectionsto spinal surgery
• Diagnostic and Ancillary Services: The Company provides MRI, patient transportation and emergency medical diagnosis services 
• The company main source of revenue focuses on several payor categories including commercial insurance,auto accident /personal injury and workers
• In house back office and administrative staff specialize in appropriate scheduling, patient care and revenue management for all payor classes

CURRENT STATE OF AFFAIRS

On September 7, 2022, iRise Spine and Joint, filed a petiti on to commence an Assi gnment for the Benefit of Creditors proceeding in accordance with Florida Statute 727. Since the petition date, the Assignee has continued operations with the goal of successfully selli ng the company as a going concern. The Assignee and management team have implemented initiati ves to increase profitability and cut costs. These include the closure of 3 unprofitable locations and its headquarters, consolidation of the organizational chart, and changes in accounts receivable collection processes.