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Ambulatory infusion provider Local Infusion raised a $30 million Series B led by Transformation Capital, CEO Woody Baum tells Axios exclusively.

Why it matters: The company chose venture capital when private equity is beating down infusion doors.

What they're saying: "We're going to be one of the five or six largest companies in the industry by the end of the year, and probably top three by the end of next year," Baum says. "So we have no interest in ever selling."

By the numbers: Local is "just under" $200 million in run rate revenue, Baum says, declining to comment on profitability.

The Nashville-based provider has 23 locations across New England and the mid-Atlantic. It hopes to grow to 40 by year-end, he says.

State of play: Per Baum, Local competes with Linden-backed IVX Health and InTandem-backed Vivo Infusion, which is expected to come to market later this year.

Between the lines: The complexity of back-office tasks like prior authorization has spawned a handful of AI startups offering solutions for infusion providers, Baum says.

Providers are using startups like Mandolin, as well as VC-backed players like Lamar Health and Tennr. 

Local, by contrast, is building its own AI-native infusion platform to help schedule patients more rapidly — "within three to four days of getting their referral, which is weeks faster than the industry average," Baum claims.

That's helped Local supercharge growth and successfully compete in markets where other players have footholds, he says.

The intrigue: President Trump's "most favored nation" drug pricing plan may have an impact on infusion providers' bottom lines, Axios has reported.

"It is a complicated regulatory environment, in part because of how unpredictable it is," Baum says.

"These drugs, they cost a lot of money to manufacture, so they're just  expensive," he adds. But infusion is a much less costly site of care than the hospital.

What's next: Local plans to expand into new service lines, including care navigation, pharmacy and home infusion.

The bottom line: While Local may not be looking to sell now, most people have their price — and infusion providers have been raking in sizable PE checks at robust EBITDA multiples.

Exclusive: Local Infusion gets $30M capital injection

Transformation Capital led the raise, which will help Local get to 40 locations by year-end.

Illustration of a price tag as an  IV bag

Ambulatory infusion provider Local Infusion raised a $30 million Series B led by Transformation Capital, CEO Woody Baum tells Axios exclusively.Why it matters: The company chose venture capital when private equity is beating down infusion doors.

Exclusive: Local Infusion gets $30M capital injection

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