SAN FRANCISCO, October 24, 2025 — FFL Partners (“FFL”), a private equity firm focused on growth investments in healthcare and tech-enabled business services companies, today announced the completion of its investment in Janus RX, LLC (“Janus” or the “Company”), a rapidly growing behavioral pharmacy with more than 40 locations across 19 states. Terms of the private transaction were not disclosed.
Headquartered in Montgomery, Ala., Janus is a leading behavioral pharmacy that serves long-term care patients with serious mental illness (“SMI”). Founded in 2016, the Company provides comprehensive pharmacy services, including the management of complex medication dispensing, advanced delivery solutions, and on-site injections. Janus also offers clinical consulting, 24-hour pharmacist support, and specialized compliance packaging solutions.
“We are thrilled to partner with the talented Janus management team, led by Founder Daniel Mims, as they bring its high-touch service and patient-centric model into new geographic markets where there is high demand,” said Karen Winterhof, Partner at FFL. “As the need for SMI patient treatment grows, Janus’s approach to providing reliable medication management and comprehensive pharmacy services has enabled it to grow significantly over the past few years.”
“FFL’s experience in scaling the strategic growth of behavioral healthcare companies and its collaborative approach to working closely with management teams will help us continue to expand our platform,” said Daniel Mims, Founder and CEO of Janus. “This will ensure our patients receive high-quality behavioral pharmacy services, while also helping us identify additional strategic growth opportunities.”
Favorable secular tailwinds, including a rising number of SMI patients, growing use of long-acting injectable pharmaceuticals, and the industry’s heightened focus on shifting patients into lower acuity care settings, are expected to support the continued growth of the behavioral pharmacy market.
“This investment is another example of our proprietary sourcing and value creation SEED strategy, a multi-year approach that allows us to identify and invest in high-performing businesses like Janus,” added Chris Harris, Managing Partner at FFL.
FFL has deep experience investing in behavioral health and pharmacy organizations, including Apex Infusion, a full-service provider of infusions in the ambulatory infusion suite and home settings; and Community Medical Services, a leading behavioral health platform and provider of medication-assisted treatment for patients with opioid use disorder. Janus represents FFL’s fourth investment in the behavioral health space and third investment in pharmacy services.
FFL was advised by Kirkland & Ellis LLP as legal counsel and Bass, Berry & Sims PLC as regulatory counsel. Bradley Arant Boult Cummings LLP served as legal counsel to Janus.