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.