Diamondback Drugs

Diamondback Drugs is a national mail-order veterinary specialty compounding pharmacy, serving primarily veterinary clinics, as well as hospitals, zoos, aquariums, and individual pet owners.

Diamondback provides one of the most extensive and advanced compounded pharmaceutical offerings available to meet specialty veterinary patient needs. The company differentiates itself in a rapidly growing and fragmented industry through its high-quality service as well as compliant and high-quality production capabilities.

Sheridan developed conviction in the long-term growth prospects of the animal health space, an industry that was at the time experiencing annual growth of 5-7%. Diamondback was, in Sheridan’s view, the ideal scalable platform given its ability to meet increasing customer demand, its diversified and loyal customer base, and its high-quality, extensive prescription drug offering.

Value Creation

Sheridan Capital Partners (SCP) invested in Diamondback in December 2012 and implemented several value creation initiatives. The team focused on sales and marketing by strengthening the sales force and enhancing its online presence and digital marketing capabilities, leading to improved revenue and customer diversification. Furthermore, the team improved the company’s product distribution capabilities and pricing strategy. Sheridan also tapped into its deep network of executives to develop Lean Initiatives and effectively plan and execute on future growth. Finally, SCP invested heavily in compliance oversight and premier production capabilities and techniques to ensure quality, safety, and efficiency.