QuVa Pharma completed a $275 million financing round May 6.
Goldman Sachs Private Credit Investing led the financing round, which also included Owl Rock Capital Partners. QuVa is an FDA-registered 503B outsourcing services company that serves about 2,000 hospital customers.
QuVa aims to expand its platform and product portfolio with the funds.
"This new funding reflects the national scale QuVa has achieved as the industry leader and the importance of the 503B industry in meeting hospitals' high quality standards and cost effectiveness requirements," said Stuart Hinchen, QuVa Pharma's co-founder and CEO. "The company continues to pursue increased capacity needs through 2024, as well as expanding capabilities to incorporate approval of complex pharmaceutical products through the FDA product registration pathway."
The company added 80,000 square feet to its manufacturing capacity in New Jersey in recent months and plans to expand operations in Texas next year.