Guardian Pharmacy Services, Inc. (GRDN) is a leading pharmacy services company specializing in technology-enabled solutions for residents of long-term care facilities (LTCFs). The company provides medication management, compliance packaging, and training services to ensure safe and efficient drug administration. Guardian primarily serves assisted living facilities (ALFs), behavioral health facilities (BHFs), and skilled nursing facilities (SNFs), leveraging proprietary technology to improve healthcare outcomes and reduce costs.
- Pharmacy Services for ALFs and BHFs - Offers prescription intake, adjudication management, and compliance packaging tailored to residents of assisted living and behavioral health facilities, addressing their unique needs and challenges.
- Pharmacy Services for SNFs - Provides medication management and integration with electronic medication administration records (EMARs) for skilled nursing facilities, ensuring adherence to drug regimens.
- Caregiver Training and Compliance Support - Conducts training sessions and mock audits for LTCF caregivers to ensure compliance with pharmacy administration requirements and government regulations.
- Proprietary Technology Solutions - Utilizes data analytics systems to track medications electronically, optimize drug regimens, and prevent adverse drug interactions.
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| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
David K. Morris ExecutiveBoard | Executive Vice President and Chief Financial Officer | David K. Morris has served as the Executive Vice President and Chief Financial Officer at GRDN since 2004. He has also been a member of the Board of Directors since 2021 and brings extensive financial leadership experience from previous roles including CFO at Central Pharmacy Services and President of the PBM Division at Complete Health. | ||
Fred P. Burke ExecutiveBoard | President and Chief Executive Officer | Fred P. Burke has led GRDN as CEO since 2004 and has been serving as a board member since 2021. He is a seasoned executive with extensive experience in pharmacy services and technology, having held key leadership roles in other companies prior to GRDN. | View Report → | |
Kendall Forbes Executive | Executive Vice President of Sales & Operations | Kendall Forbes has served as the Executive Vice President of Sales & Operations at GRDN since July 2004. He has over 30 years of pharmacy industry experience, previously holding key leadership roles including Executive Vice President of Operations at Central Pharmacy Services, Inc.. | ||
John Ackerman Board | Member of the Board of Directors | Co-founder and President of Cardinal Equity Partners; Board member of AAA Hoosier Motor Club; Advisory Committee member of Franklin Water Treatment | John Ackerman has served as a board member at GRDN since its formation in 2024 and is classified as a Class II Director. He brings extensive experience from his role as co-founder and President of Cardinal Equity Partners since 1994, along with serving on other boards outside GRDN. | |
Mary Sue Patchett Board | Class I Director | Mary Sue Patchett is currently a Class I Director at GRDN, having joined the board in 2024. She also serves on the Audit and Compensation Committees. | ||
Randall Lewis Board | Class II Director | Managing Partner for Cleveland Avenue, LLC ; Member of the Board of Directors, Simon Property Group, Inc. | Randall Lewis serves as a Class II Director at GRDN and as Chair of the Audit Committee since March 28, 2025. He brings extensive experience in finance with over 35 years in the industry and has been the Managing Partner for Cleveland Avenue, LLC since 2020. | |
Steve Cosler Board | Member of the Board of Directors | Imagine360, LLC; Liviniti, LLC; Southern Scripts, LLC; Eversana Life Science Services LLC; MedShorts LLC; Chairman of National Retail Properties, Inc. | Steve Cosler has been serving as a board director at GRDN since September 2024. He brings extensive experience from his roles as Operating Partner at Water Street Healthcare Partners since 2006 and as former President & CEO of Priority. | |
Thomas Salentine Board | Class I Director | President at Bindley Capital Partners, LLC | Thomas Salentine, Jr. has served as a Class I Director at GRDN since 2024, contributing his extensive investment banking, private equity, and corporate governance expertise. He is also the President at Bindley Capital Partners, LLC since 2001, and has held previous roles in the financial industry. | |
William Bindley Board | Chairman of the Board of Directors | Chairman of Bindley Capital Partners, LLC | William Bindley has served as Chairman of the Board of Directors at GRDN since its formation in 2024. He also brings extensive leadership experience from his role as Chairman of Bindley Capital Partners, LLC since 2001. |
Research analysts who have asked questions during Guardian Pharmacy Services earnings calls.
John Ransom
Raymond James
3 questions for GRDN
David Macdonald
Truist Securities
2 questions for GRDN
Raj Kumar
Stephens
2 questions for GRDN
Gracy McAllister
Truist Securities
1 question for GRDN
John McDonald
Truist Securities
1 question for GRDN
Parker Snure
Raymond James
1 question for GRDN
Scott Fidel
Stephens Inc.
1 question for GRDN
Competitors mentioned in the company's latest 10K filing.
| Company | Description |
|---|---|
Omnicare, Inc. | The company is a primary competitor in the ALF and BHF space as a large national provider, alongside other local and regional pharmacies in each of the company's markets. |
PharMerica Corporation | This corporation is identified as a primary competitor in the ALF and BHF space, being a large national provider similar to the company. |
Remedi SeniorCare | This is one of the local and regional pharmacies that compete with the company in each of its markets. |
PharmCareUSA | This pharmacy is listed among the local and regional competitors in the company's markets. |
Polaris Pharmacy Services | This service is mentioned as a competitor in the local and regional markets where the company operates. |
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
Freedom Pharmacy | 2024 | No specific details about Freedom Pharmacy were provided; however, if it is one of the 2024 deals, similar Q2 acquisitions involved a total preliminary value of $12,193 (including $10,243 cash and earnouts up to $1,950) with recorded goodwill of $10,391 and customer-related intangibles valued at $4,650 , while similar Q3 transactions involved $15,882 in preliminary consideration (including $12,460 cash, an inventory payment, and earnouts up to $2,700) with goodwill of $12,373 and additional intangibles valued at $5,607. |
Heartland Pharmacy | 2024 | Completed on April 1, 2024, this acquisition enhanced Guardian Pharmacy Services’ market position by contributing to a 20% YoY revenue increase in Q3 and adding four new locations plus 8,600 residents in the Intermountain West region, with integration expected over 2–3 years. |
Recent press releases and 8-K filings for GRDN.
- Guardian Pharmacy Services is the market leader in institutional pharmacy services for assisted living, holding a 13% market share and specializing in serving a highly acute resident population.
- The company guides for low double-digit revenue growth in the medium to long term, composed of secular tailwinds from assisted living growth, highest single-digit organic growth from market share gains, and strategic M&A. Historically, revenue has grown at 15% since inception.
- The Inflation Reduction Act (IRA) is identified as a potential headwind, projected to impact revenue by over $100 million and EBITDA by approximately $5 million (5%) in 2026, which Guardian is confident in mitigating through commercial negotiations and legislative efforts.
- Guardian's M&A strategy focuses on acquiring pharmacies with strong operators who can leverage the company's platform, purchasing power, and reimbursement contracts to improve profitability and expand into new markets.
- The company generates a strong financial profile with a roughly 60% cash conversion ratio after taxes and CapEx, which more than funds its M&A program, and currently has an unused credit facility.
- Guardian Pharmacy Services, Inc. (GRDN) furnished a presentation to investors and analysts, highlighting its position as a leader in the Assisted Living Facility (ALF) & Memory Care Pharmacy Market.
- For Q2 2025, the company reported $344.3 million in revenue and $30.0 million in Adjusted EBITDA.
- As of June 30, 2025, GRDN operates 52 pharmacies serving 195,000+ residents, holding a 13% nationwide market share in the ALF & Memory Care market.
- The company pursues a multi-pronged growth strategy through organic expansion, including greenfield startups and new facility additions, and disciplined M&A targeting pharmacies with $10-$30 million in revenue.
- Guardian Pharmacy Services reported strong Q2 2025 financial results, with revenue of $344.3 million, up 15% year-over-year, and Adjusted EBITDA of $25.0 million. Diluted EPS was $0.14 and Adjusted EPS was $0.23 for the quarter ended June 30, 2025.
- The company raised its full-year 2025 guidance, with updated revenue expected to be between $1.39 billion and $1.41 billion, and Adjusted EBITDA projected at $100.0 million to $102.0 million.
- Operationally, Guardian expanded its national presence by adding two new pharmacies and a greenfield pharmacy during Q2 2025, and completed the acquisition of Managed Healthcare Pharmacy subsequent to quarter-end.
- In May 2025, Guardian completed a non-dilutive secondary offering of 8.625 million shares to increase its public float and enhance trading liquidity.
- U.S. ALF market leader with 13% share and over 189,000 residents served across 53 pharmacies as of Q1 2025 .
- Delivered $90.8 M adjusted EBITDA in FY2024, up from $65.7 M in FY2022, despite a full-year net loss of $71.0 M in FY2024 .
- Showcasing robust top-line growth, a durable margin profile, and a strong balance sheet & cash-flow conversion .
- Pursuing disciplined M&A with targets typically generating $10–30 M revenue and serving ~2,000–3,500 residents, offering upfront purchase price plus equity retention with a four-year integration plan .
- Investing in data analytics, robotics, and clinical programs like the Insurance Optimizer, driving ~$41 M in savings (~$514 per resident) across ~79K residents .
- Guardian Pharmacy Services, Inc. filed an 8‑K on May 20, 2025, announcing the execution of a Stock Purchase Agreement to facilitate the sale of Synthetic Secondary Shares in connection with its planned public offering.
- The agreement provides for the purchase of up to 1,457,365 shares of Class A common stock at the public offering price less the underwriting discount, with lock‑up restrictions lasting 150 days post‐offering.
- This filing supersedes previous lock‑up arrangements to support an orderly share distribution and an increased public float ahead of the public offering.
- Q4 Highlights: Revenue of $338.6 million with 20% YoY growth, driven by organic growth and acquisitions (Heartland and Freedom Pharmacies), and resident count increased to 186,000.
- Full Year Overview: Revenue reached $1.228 billion with a net loss of ($71.0) million, primarily due to substantial share-based compensation expenses related to the IPO and corporate reorganization.
- Adjusted EBITDA Performance: Recorded $25.9 million in Q4 and $90.8 million for the full year, demonstrating improved operational efficiency.
- Future Guidance: FY 2025 guidance projects revenue between $1.330 billion and $1.350 billion, with adjusted EBITDA expected between $97.0 million and $101.0 million, excluding potential future M&A activity.
- Q4 Revenue reached approximately $338.6 million with a 20.5% year-over-year increase, driven by organic growth and acquisitions, and resident count estimated at 186,000.
- For the full year 2024, revenue is expected to hit about $1.228 billion, supported by both organic performance and acquired entities.
- Net income for Q4 is projected between $10.1M and $11.1M with adjusted EBITDA roughly $25.9M, though these figures are preliminary and unaudited.
- The company also provided 2025 guidance and details for an upcoming earnings conference call.