Clinical Supplies Management
Based in Greenwich, Connecticut, private equity firm Great Point Partners invests in health care companies. One of Great Point Partners’ portfolio firms, Clinical Supplies Management (CSM), acquired B&C Group (B&C), headquartered in Brussels, Belgium, in January 2017.
CSM handles the clinical supply chain of hundreds of pharmaceutical and biotechnology firms around the world, helping clinical trials to be on budget and on time. Its full array of services to comply with Current Good Manufacturing Practice regulations include packaging and labeling, storage, global distribution, and clinical supplies consulting. The acquisition will enable CSM to leverage B&C’s expertise in clinical trial supplies provisioning and biomedical services across the CSM global network.
CSM now has two full-service facilities in Europe, including its December 2016 acquisition of Frankfurt, Germany-based, Theorem Clinical Supply. These complementary acquisitions expand the firm’s biomedical sample services and disaster recovery backup capabilities in Europe. A European expansion is one of Great Point Partner’s central strategies for CSM, which also will assist in better serving CSM pharmaceutical clients performing joint clinical trails in the United States and Europe.
Great Point Partners
Since its establishment in 2003, Great Point Partners (GPP) has invested in health care companies throughout Europe and the United States, investing into more than 100 opportunities. In December 2016, Great Point Partners announced its exit from its partnership with Professional Physical Therapy (ProPT), making it the fourth successful investment exit for GPP over the course of 14 months.
An award-winning provider of physical therapy and rehabilitation services based in Uniondale, New York, ProPT operates 107 centers for physical and hand therapy outpatients in New Jersey, New York, and Connecticut.
Over the course of five years of partnership, ProPT expanded upon the 10 centers and 300 employees it had at the start of the relationship, resulting in ProPT now overseeing more than 100 centers and employing approximately 1,200 people. Further, ProPT made 21 tuck-in acquisitions during the partnership and experienced a compound annual revenue growth rate in excess of 35 percent.
Clinical Supplies Management
A Connecticut-based investment firm that focuses primarily on the health care industry, Great Point Partners (GPP) has invested its clients capital since its formation in 2003. Clinical Supplies Management (CSM), one of Great Point Partners’ portfolio companies, announced its acquisition of a second European company in January 2017.
Following its purchase of Theorem Clinical Supply, which is a Frankfurt-based health care business, CSM has acquired B&C Group. Headquartered in Brussels, Belgium, B&C provides clinical trial supplies, in addition to biomedical sample services.
Both acquisitions have expanded CSM’s European footprint, offering it two full-time facilities on the continent. Further, CSM’s biomedical sample services have expanded due to the acquisitions.
As part of the most recent acquisition, B&C’s CEO Phillipe Van der Hofstadt will lead CSM’s European activities going forward. In speaking about the opportunity, Van der Hofstadt noted that the acquisition of B&C formalized a longstanding partnership between it and CSM, adding that CSM is now perfectly poised to offer greater value to its customers.
Alliance Biomedical Research
Founded in 2003, Great Point Partners is a healthcare investment firm with. Based in Greenwich, Connecticut, Great Point Partners (GPP) has a team of 28 professionals investing primarily in North America and additionally in Western Europe.
In September 2016, GPP announced a growth recapitalization of Alliance Biomedical Research (ABR), a clinical trial research business based in Greenville, South Carolina. Pharmaceutical and biotechnology companies contract with ABR to conduct Phase II through Phase IV clinical studies, which involves recruiting eligible patients to test drugs, monitoring results, complying with FDA and sponsor standards, and giving an account of their results to the clients.
Founded in 2004 with a vision of becoming the leading clinical trial research company, ABR has been able to grow organically from a single location to 11 sites. GPP’s investment will enable ABR to improve its infrastructure and execute a growth strategy comprising the development of new facilities and strategic tuck-in acquisitions.
With the new partnership, Jim Petrilla, founder of BioAgilytix, will join ABR as the new chief executive officer and Richard Vaillant, former CFO at Cytovance Biologics, will be ABR’s new CFO.
Headquartered in Greenwich, Connecticut, Great Point Partners is a healthcare investment firm managing capital in both private and public equity funds. Great Point Partners’ (GPP) private equity funds invest in all sectors of the healthcare industry, including radiology.
On October 10, 2016, Aris Radiology, a GPP portfolio company, announced it had acquired US Teleradiology (UST), based in Atlanta, Georgia. UST is a radiology practice providing professional radiology services to medical centers across the United States. With UST added to its portfolio, Aris now has over 250 radiologists interpreting about 2.5 million results annually in more than 30 states. This firmly entrenches Aris as a premier player in radiology consolidation.
Speaking at the announcement, Aris President Carl Kozlowski expressed excitement about the new partnership that would see Aris and UST combine their resources to further solidify their hospital relationships by providing round-the-clock full subspecialty coverage to clients. Following the acquisition, Dr. Francis Ferraro, the former chief executive officer of UST, will join Aris as director of physician and clinical relations for Aris’ California operations.
Professional Orthopedic and Sports Physical Therapy
Based in Connecticut, Great Point Partners (GPP) has an investment approach that makes equity capital-funded acquisitions of health care organizations across North America and Western Europe. In July, 2016, Great Point Partners announced a pair of acquisitions through Professional Physical Therapy (ProPT), a GPP portfolio company.
With the acquisition of PRO Physical Therapy and Achieve Sports Medicine & Rehab, the Connecticut firm now has a trio of new New Jersey clinics spanning Wyckoff, Randolph, and Waldwick. These bring the number of 2016 ProPT tuck-in acquisitions up to seven, with the company’s resources extending to nearly 90 outpatient locations across the Northeast. This consolidates the firm’s status as one of the leading physical therapy providers region-wide.
A ProPT executive described the acquisition as making strategic sense in enabling robust partnerships among knowledgeable, well-established local practitioners. With this expanded roster of physical, hand, and occupational therapists in place, patients will receive enhanced care tailored to their specific rehabilitative goals.
Great Point Partners
Great Point Partners is a Connecticut-based investment firm that strives to help health care companies reach their full potential. Founded in 2003, Great Point Partners (GPP) has successfully invested more than $1 billion in the industry and has engaged in financial dealings ranging from acquisitions to growth recapitalizations.
In October of 2016, GPP announced the completion of growth recapitalization for Clinical Supplies Management, a packaging, labeling and logistics solutions firm that serves the pharmaceutical industry. The goal of the recapitalization was to allow Clinical Supplies Management to implement its growth strategy while also investing in management expertise and infrastructure improvements. Growth recapitalization is just one type of the broader recapitalization investment strategy.
Recapitalization refers to the restructuring of a company’s debt and equity holdings, which can be used to improve tax benefits, cash flow balances, and ownership holdings, among other goals. The growth recapitalization strategy provides liquidity for businesses to pursue growth objectives as well as improvements to operations and infrastructure. This is accomplished through the sale of a large portion of shares in the business to raise funds, while still allowing the current leadership to retain operational control of the firm.