When it came to the public markets, no one can accuse David Morris and his seasoned C-suite colleagues, Fred Burke and Kendall Forbes, of being impatient. Guardian Pharmacy Services, a company they built from the ground up, recently raised $112 million in an IPO, listing on the NYSE under the symbol “GRDN.” The milestone reflects a culmination of over three decades of ever thoughtful, strategic decision making in a highly specialized market.
For CFO David Morris, the path to the public markets wasn’t about rapid scaling or chasing quick wins. “We knew from the start that success in healthcare is a long game,” he says, underscoring the team’s deliberate approach. CEO Fred Burke, COO Kendall Forbes, and Morris founded Guardian Pharmacy with the understanding that meaningful growth would come through a patient, steady process of building relationships and refining operations. They entered a complex space, providing technology-enabled pharmacy services for long-term care facilities (LTCFs) across the U.S., from assisted living to behavioral health facilities.
Today, Guardian’s 50 pharmacies serve approximately 174,000 residents in 6,700 facilities across 36 states. With more than two-thirds of its revenue coming from assisted living and behavioral health facilities, Guardian has become a trusted partner in the long-term care industry, where patient care and regulatory oversight demand careful attention.
The IPO marks a new chapter for Guardian, yet Morris, Burke, and Forbes remain dedicated to their original mission. As the company grows in the public eye, their focus remains on delivering results through quality service and operational insight, underscoring the patient leadership that has driven Guardian’s success.
“We almost consider ourselves a healthcare data analytics company because that’s the way we’re running it.” David Morris, CFO, Guardian Pharmacy
“I spend more time than I did five years ago on the human capital side of the business, working with our teams who are helping our local pharmacy operations in leadership development, hiring, training, and retaining talent.” – David Morris, CFO, Guardian Pharmacy
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CFOTL: What are your priorities for the coming 12 months?
Morris: We’re very focused on getting the people and systems in place to not only manage what we have but to prepare for the inherent growth we’re expecting over the next two or three years. As we approach the next three or four years, with industry growth, trends, and the initiatives we have in place, we should be able to take this north of a billion dollars. We’re making sure to continue the practices we’ve established in the past few years, focusing on having the right leaders to run the businesses that serve our customers. In support services, we’ll continue to lay a solid foundation by investing in business acumen, IT acumen, human capital management, and sales expertise to better support our local partners in the field. So, we’ve got our hands full.
Guardian Phamacy | www.guardianpharmacy.com | Atlanta, GA