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Guardian Pharmacy Services files for IPO
Guardian Pharmacy Services Inc., a company that helps residents of assisted living facilities and group homes stick to their medication plans, filed for an initial public offering on Tuesday. The Atlanta-based company hopes to trade on the New York Stock Exchange under the ticker symbol “GRDN.” Stephens, Raymond James and Truist Securities were the underwriters. The company’s filing didn’t include details on the number or expected price of shares to be offered. Guardian Pharmacy’s 43 pharmacies served around 156,000 residents in some 5,800 long-term health care facilities in the U.S. during the first half of this year. “We believe we are the only company in our industry of national scale and purpose-built to serve the individual needs of assisted living, behavioral health and group home residents,” Chief Executive Fred Burke said in a letter to potential investors. “In a large and fragmented market, we think we are positioned with a compelling opportunity for continued growth.” The company had $908.9 million in revenue last year, with net income of $49.7 million.
Silicon Valley residents say region is on ‘wrong track,’ half consider leaving in five years: poll
Most Silicon Valley residents, unhappy with housing costs and homelessness, think the region is on the “wrong track” and are considering moving within five years, according to a new survey. The findings from the 2023 Silicon Valley Poll, released Tuesday, are based on a poll of 1,951 adults in the San Francisco Bay Area, who are also upset with the state of the Bay Area’s downtowns, and the unequal distribution of wealth. Nearly seven in 10 said the area is going in the wrong direction, and nearly half say they lack financial stability. Though residents feel compassion for the homeless, they say they are losing patience with tents in public parks and RVs parked on streets.
