Completed Transactions

Our Principals Have Closed Over 100 Transactions Representing More than $30 billion in Total Value

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  • TRANSACTION PRINCIPALS
    • Founder/Owner/Entrepreneur
    • Private Equity
    • Strategic
  • TRANSACTION TYPE
    • Capital Raise/Recapitalization
    • Sale or Merger
    • Buy-Side Acquisition
    • Fairness or Valuation Opinion
  • SECTOR
    • Healthcare Services
    • Pharmaceutical Services
    • Pharma and Biotech
    • Rare/Orphan Disease
  • THEME
    • Founder/Owner Recapitalization
    • Founder/Owner Sale
    • Public Company Acquiror
    • Private Equity Acquiror
  • CROSS BORDER
    • Canada
    • Europe
    • Asia
  • LONG TERM ADVISORY / REPEAT CLIENTS
    • Acquisition Growth Strategy
    • Multiple Transactions
  • OWNER TYPE
    • Physician Owned
  • VIEW ALL
  • TRANSACTION OVERVIEW
    acquired
    November 2017
    • Evolution Research Group
    • Buy-side Advisory
    • Watchung, NJ
    • Lori Thievon-Wright, Founder & CEO
    • Edgemont Capital Partners acted as exclusive financial advisor to Evolution Research Group in its acquisition of Brain Matters Research
    • Confidential
    • Evolution Research Group is one of the largest independent clinical research site companies in North America
  • TRANSACTION OVERVIEW
    acquired
    July 2017
    • Evolution Research Group
    • Buy-side Advisory
    • Watchung, NJ
    • Lori Thievon-Wright, Founder & CEO
    • Edgemont Capital Partners acted as exclusive financial advisor to Evolution Research Group in its acquisition of Endeavor Clinical Trials
    • Confidential
    • Evolution Research Group is one of the largest independent clinical research site companies in North America
  • TRANSACTION OVERVIEW
    acquired by
    June 2017
    • Northside Emergency Associates
    • Broad Exclusive Sale
    • Atlanta, GA
    • Dr. Larry Brannam
    • Edgemont Capital Partners acted as exclusive financial advisor to NEA in its sale to Envision
    • Confidential
    • NEA is an emergency services provider to all three Northside Hospital Healthcare System facilities

    Case Study: Northside Emergency Associates

    Edgemont served as the exclusive financial advisor to Northside Emergency Associates (“NEA”) in its sale to Envision Healthcare.

    NEA, established in 1973, provides emergency medicine department management and staffing services to Northside Hospital Healthcare System’s three hospitals in Georgia. With over 65 physicians and advanced practice clinicians staffing three of the busiest emergency departments in Northern Atlanta, NEA provides care to over 170,000 patients a year.

    • Edgemont was retained by NEA in 2016 to advise the partnership on its strategic options after the anesthesia group in NEA’s hospital system was acquired by a national consolidator
    • NEA had held potential sale discussions with some national consolidators in the past, but did not feel that valuations reflected the strength and growth of the practice
    • Edgemont reviewed NEA’s financials and prepared an analysis of the likely synergies and pro-forma income a strategic acquirer would realize after acquiring the company
    • Edgemont’s preliminary valuation work confirmed NEA’s belief that previous offers significantly undervalued NEA
    • Edgemont performed a full analysis of NEA’s strategic and financial options and concluded that an auction process among multiple strategic acquirers was the best direction
    • Edgemont prepared marketing materials highlighting the strength and depth of NEA’s relationship with Northside Hospital and the growth that Northside was experiencing
    • NEA’s leadership and the Edgemont team met with potential strategic bidders at an industry conference to discuss NEA’s practice in detail
    • Edgemont received five initial bids from strategic acquirers in late 2016
    • Edgemont led second-round bidders through a full diligence process and requested final bids in the form of a marked-up purchase contract
      • Competitive final bidding concluded with a sale to Envision Healthcare on very attractive terms
      • NEA and Edgemont achieved a final purchase price significantly higher than the initial round offers

    Edgemont Capital Partners Completes Sale of Northside Emergency Associates to Envision Healthcare

    Acquisition highlights ongoing consolidation in hospital outsourced clinical services; Transaction is Edgemont’s fifth in emergency medicine and eleventh on behalf of hospital-based physician groups

    Edgemont Capital - NEA

    NEW YORK and ATLANTA, July 5, 2017– Edgemont Capital Partners, L.P has acted as exclusive financial advisor to Northside Emergency Associates (“NEA”) in the sale of the company to Envision Healthcare Corp. (NYSE:EVHC).  The transaction closed on June 30, 2017 and was led by Jeff Swearingen, Managing Director, Co-founder of Edgemont, and Head of the Firm’s Physician Services Group, supported by Vitaliy Marchenko, Associate.  Edgemont is the preeminent healthcare-focused middle market investment bank, focused on serving the advisory needs of healthcare providers and entrepreneurs for more than 15 years.

    NEA’s sale continues the trend of hospital outsourced clinical services consolidation, driven by regulatory pressures and most recently the implementation of the Medicare Access and CHIP Reauthorization Act of 2015, and marks the 85th transaction in emergency medicine since 2008. NEA’s more than 65 physicians and advanced practice clinicians staff three of the busiest emergency departments in Northern Atlanta, providing care to over 170,000 patients a year.

    “Edgemont’s deep healthcare industry knowledge and transaction experience gave us confidence that NEA’s shareholders would achieve an outstanding result,” said Dr. Robert Higgins, President Emeritus of NEA. “Jeff’s relentless commitment to physicians and intimate understanding of the emergency medicine business resulted in a great transaction for NEA’s shareholders.”

    Dr. Larry Brannam, President of NEA, said, “Edgemont’s expert advice and guidance throughout the highly competitive sale process gave NEA’s shareholders comfort in knowing that the practice is joining a partner that will provide the resources necessary to serve the patients in our community. We are grateful to the Edgemont team for its expert advice and guidance throughout the sale process.”

    Edgemont’s role as NEA’s exclusive M&A advisor is the firm’s eleventh closed transaction on behalf of hospital-based physician groups and management companies and fifth in Emergency Medicine.  Edgemont has served as exclusive advisor to Emergency Medicine practices and management companies representing over five million annual emergency room visits.  Edgemont previously represented Florida Emergency Physicians in its sale to TeamHealth Holdings Inc.; Premier Emergency Medical Specialists, PLLC in its sale to Sheridan, the Physician Services division of AmSurg Corp. (NASDAQ:AMSG); Premier Physician Services, Inc. (of Dayton, Ohio) in its sale to TeamHealth Holdings Inc.; Practice Support Resources, LLC in its sale to Intermedix Corporation; Milford Anesthesia Associates in its sale to Envision Healthcare Holdings, Inc. (NYSE: EVHC); South Oakland Anesthesia Associates in its sale to MEDNAX, Inc. (NYSE: MD); Wolverine Anesthesia Consultants in its sale to TeamHealth Holdings Inc.; New Jersey Anesthesia Associates in its sale to MEDNAX, Inc.; Anesthesia Services Associates in its sale to PhyMed Management, LLC; and Associated Anesthesiologists of Reno, P.C. in its sale to MEDNAX, Inc.

    “No other investment banking firm has represented more large and mid-sized independent hospital-based physician groups,” said Swearingen.  “Edgemont is the leading investment bank for independent physician groups.  Edgemont’s Physician Services Group serves practices across a broad range of hospital and office-based specialties, including emergency medicine, hospitalist medicine, anesthesia, radiology, dermatology, ophthalmology, urology, urgent care, and occupational medicine.”

    About Edgemont Capital Partners, L.P.

    Edgemont Capital Partners, L.P. (www.edgemontcapital.com) is an independent investment banking firm founded in 2001 to provide the highest quality strategic advisory and capital raising services to healthcare companies.  The firm’s deep healthcare industry knowledge, extensive relationship network and substantial M&A transaction expertise allow Edgemont to address healthcare companies’ strategic and financing needs with great success.  The firm’s principals have closed over 100 healthcare transactions, representing more than $30 billion in value.

    For more information on Edgemont Capital Partners, L.P.’s efforts in Physician Services contact Jeff Swearingen at +1 (212) 867-8938.

    Investment banking services are provided by Edgemont Capital Partners, L.P., a registered broker-dealer and member of FINRA and SIPC.

    ###

    Northside Emergency Associates

    “Edgemont’s deep healthcare industry knowledge and transaction experience gave us confidence that NEA’s shareholders would achieve an outstanding result. Jeff’s relentless commitment to our physicians and intimate understanding of the emergency medicine business resulted in a positive outcome for NEA’s shareholders.”

    Dr. Robert Higgins
    President Emeritus
    Northside Emergency Associates

    “Edgemont’s expert advice and guidance through the highly competitive sale process gave NEA’s shareholders comfort. We are grateful to the Edgemont team for the success of the sale.”

    Dr. Larry Brannam
    President
    Northside Emergency Associates

     

  • TRANSACTION OVERVIEW
    recapitalized by
    March 2017
    • Skin and Beauty Center
    • Broad
    • Burbank, CA
    • Dr. Payam Saadat and Dr. Manjunath Vadmal, Partners
    • Edgemont Capital Partners acted as the exclusive financial advisor to SBC in its recapitalization by Gemini Investors
    • Confidential
    • Skin and Beauty Center is the largest full-service cosmetic, medical and surgical dermatology provider in Northern Los Angeles, California

    Case Study: Recapitalization of Skin and Beauty Center

    SBC is the largest and fastest growing dermatology group in northern Los Angeles, California. The Company offers full-service cosmetic, medical and surgical dermatology services.

    • Edgemont acted as exclusive financial advisor to SBC
      • Retained: March 28, 2016
      • Entered into LOI: December 15, 2016
      • LOI to close: 81 days
    • Edgemont ran a broad, competitive process that optimally positioned the Company to extract maximum value for its shareholders
      • Significant interest from both private equity investors as well as strategic acquirers
    • Gemini Investors has plans to rapidly expand the business both organically and through acquisitions

    Edgemont Capital Partners Advises Skin & Beauty Center, Inc. on Recapitalization

    Investment by Gemini Investors positions leading provider of cosmetic, medical, and surgical dermatology services for further growth

    NEW YORK and BURBANK, CA, May 31, 2017 – Edgemont Capital Partners, LP, a leading independent investment banking firm, today announced that it served as exclusive financial advisor to Skin & Beauty Center, Inc. (“SBC”) in its recapitalization by Gemini Investors.  Terms of the deal were not disclosed.

    Founded in 2006 by Dr. Payam Saadat and Dr. Manjunath Vadmal, and headquartered in Burbank, California, Skin & Beauty Center (www.dermla.com) provides high quality medical, surgical and cosmetic dermatology services through five clinics, employing a skilled team of dermatologists, dermatopathologists, estheticians and dermatologic, cosmetic, Mohs and aesthetic surgeons.  The investment by Gemini Investors further cements SBC as the leading dermatology provider in the Los Angeles area, and provides support for an acceleration of the company’s expansion in Los Angeles and surrounding markets.

    Luke J. Mitchell, Managing Director, and leader of Edgemont’s efforts with office-based physician services groups, led the Edgemont engagement team, along with associate Vitaliy Marchenko and analyst Taylor Grant.

    Mr. Mitchell stated, “We are honored to have played a significant role in this transaction and we are confident this will be a very successful partnership between Doctor Saadat, Doctor Vadmal, and Gemini Investors.  The combination of the founders’ vision and passion for delivering excellent clinical care and patient satisfaction, and Gemini Investors’ long track record of supporting high growth companies with strong management teams, will result in one of the leading dermatology services platforms in the country.”

    The recapitalization of SBC is Edgemont’s twelfth closed transaction on behalf of physician groups, clinics and practice management companies. The transaction closed on March 3, 2017.

    About Skin and Beauty Center

    Founded in 2006, Skin & Beauty Center is the largest full-service cosmetic, medical and surgical dermatology provider in Northern Los Angeles, California. More information can be found at www.dermla.com.

    About Gemini Investors

    Founded in 1993, Gemini Investors is a Massachusetts-based investor in lower middle market companies. Since its inception, it has invested over $550 million in companies throughout the U.S. The firm is currently investing Gemini Investors VI, L.P.

    About Edgemont Capital Partners, L.P.

    Edgemont Capital Partners, L.P. (www.edgemontcapital.com) is an independent investment banking firm founded in 2001 to provide the highest quality strategic advisory and capital raising services to healthcare companies.  The firm’s deep healthcare industry knowledge, extensive relationship network and substantial transaction expertise allow Edgemont to address healthcare companies’ strategic and financing needs with great success.  The firm’s principals have closed over 100 healthcare transactions, representing more than $30 billion in value.

    For more information on Edgemont Capital Partners, L.P.’s efforts in office-based physician services contact Luke J. Mitchell at +1 (212) 867-5181.

    Investment banking services are provided by Edgemont Capital Partners, L.P., a registered broker-dealer and member of FINRA and SIPC.

  • TRANSACTION OVERVIEW
    acquired by
    October 2016
    • Florida Emergency Physicians
    • Broad Exclusive Sale
    • Orlando, FL
    • Dr. Jorge Lopez, CEO
    • Edgemont Capital Partners acted as exclusive financial advisor to FEP in its sale to TeamHealth
    • Confidential
    • FEP is the emergency medicine services provider to Florida Hospital throughout the greater Orlando region, providing services at 11 hospitals

    Edgemont Capital Partners Completes Sale of Florida Emergency Physicians to TeamHealth

    Leading independent healthcare investment banking firm serves as exclusive financial advisor to FEP, the largest independent Emergency Medicine physician group in Florida

    NEW YORK and ORLANDO, October 3, 2016 — Edgemont Capital Partners, L.P., a leading independent healthcare investment banking firm providing merger and acquisition advisory services to healthcare companies, today announced that it acted as exclusive financial advisor to Florida Emergency Physicians Kang & Associates, M.D., Inc. (“FEP”) in the sale of the company to TeamHealth Holdings Inc. (NYSE: TMH).  The transaction closed on October 1, 2016 and was led by Jeff Swearingen, Managing Director, Co-founder of Edgemont, and Head of the Firm’s Physician Services Group and Luke Mitchell, Managing Director.

    Based in Orlando, Florida, FEP is the exclusive emergency medicine staffing provider for 11 facilities spanning five counties within the Florida Hospital health system. FEP comprises approximately 150 physicians and 100 advanced practice clinicians who provide care for 600,000 patients each year.  FEP is the largest independent Emergency Medicine physician group in the state of Florida and has served the Florida Hospital system for over 45 years.

    “Right from the start, Jeff and the Edgemont team demonstrated a strong understanding of the Emergency Medicine business and a real commitment to providing great service and the right advice,” said Dr. Jorge Lopez, Chief Executive Officer of FEP.  “Edgemont’s market insight and strong execution resulted in a great transaction for FEP’s shareholders, with a partner that will provide the tools and resources to better serve the emergency medicine needs of Orlando.  We are grateful to the Edgemont team for its expert advice and guidance throughout the sale process.  Edgemont’s professionalism and dedication to this engagement, and the depth of its industry experience resulted in a competitive process that brought us an outstanding partner.”

    Edgemont’s role as FEP’s exclusive advisor is the firm’s tenth closed transaction on behalf of hospital-based physician groups and management companies and fourth in Emergency Medicine.  Edgemont has now served as exclusive advisor to Emergency Medicine practices and management companies representing over 5 million annual emergency room visits.  Edgemont previously represented Premier Emergency Medical Specialists, PLLC in its sale to Sheridan, the Physician Services division of AmSurg Corp. (NASDAQ:AMSG); Premier Physician Services, Inc. (of Dayton, Ohio) in its sale to TeamHealth Holdings Inc.; Practice Support Resources, LLC in its sale to Intermedix Corporation; Milford Anesthesia Associates in its sale to Envision Healthcare Holdings, Inc. (NYSE: EVHC); South Oakland Anesthesia Associates in its sale to MEDNAX, Inc. (NYSE: MD); Wolverine Anesthesia Consultants in its sale to TeamHealth Holdings Inc.; New Jersey Anesthesia Associates in its sale to MEDNAX, Inc.; Anesthesia Services Associates in its sale to PhyMed Management, LLC; and Associated Anesthesiologists of Reno, P.C. in its sale to MEDNAX, Inc.

    “Independent, high quality physician practices of scale are seeking the highest level of quality and experience in the financial advisors they hire.  Edgemont is unsurpassed in its track record of achieving the best transaction outcomes for its independent physician practice clients,” added Mr. Swearingen.  “No other investment banking firm has represented more large and mid-sized independent hospital-based physician groups in sale transactions, and Edgemont is the only investment bank that has represented independent groups in sale transactions with all of the publicly-traded hospital-based specialty providers, including EmCare, MEDNAX, Sheridan and TeamHealth.”

    Associate Reid Petersen and two Analysts completed the Edgemont transaction team.  Brent Hill and Amanda Jester of Waller Lansden Dortch & Davis, LLP served as legal counsel to FEP.

    About Edgemont Capital Partners, L.P.

    Edgemont Capital Partners, L.P. (www.edgemontcapital.com) is an independent investment banking firm founded in 2001 to provide the highest quality strategic advisory and capital raising services to healthcare companies.  The firm’s deep healthcare industry knowledge, extensive relationship network and substantial transaction expertise allow Edgemont to address healthcare companies’ strategic and financing needs with great success.  The firm’s principals have closed over 100 healthcare transactions, representing more than $30 billion in value.

    For more information on Edgemont Capital Partners, L.P.’s efforts in Physician Services contact Jeff Swearingen at +1 (212) 867-8938.

    Investment banking services are provided by Edgemont Capital Partners, L.P., a registered broker-dealer and member of FINRA and SIPC.

    Florida Emergency Physicians

    “Right from the start, Jeff and the Edgemont team demonstrated a strong understanding of the Emergency Medicine business and a real commitment to providing great service and the right advice. Edgemont’s market insight and strong execution resulted in a great transaction for FEP’s shareholders, with a partner that will provide the tools and resources to better serve the emergency medicine needs of Orlando.  We are grateful to the Edgemont team for its expert advice and guidance throughout the sale process.  Edgemont’s professionalism and dedication to this engagement, and the depth of its industry experience resulted in a competitive process that brought us an outstanding partner.”

    Dr. Jorge Lopez
    CEO
    Florida Emergency Physicians 

  • TRANSACTION OVERVIEW
    acquired by
    August 2016
    • Associated Anesthesiologists of Reno
    • Broad Exclusive Sale
    • Reno, NV
    • Dr. Matthew Hoberg / Partnership
    • Edgemont Capital Partners acted as exclusive financial advisor to AAR in its sale to MEDNAX
    • Confidential
    • AAR is the largest anesthesia practice in Northern Nevada and is the exclusive provider at Renown Regional Medical Center, an 808 bed facility, a level 2 Trauma Center, and Northern Nevada Medical Center, Carson Valley Medical Center and various ambulatory surgical centers throughout the region

    Edgemont Capital Partners Completes Sale of Associated Anesthesiologists of Reno to MEDNAX

    Leading independent healthcare investment banking firm serves as exclusive financial advisor to AAR, the largest Anesthesia provider in Northern Nevada

    NEW YORK and RENO, August 8, 2016 — Edgemont Capital Partners, L.P., a leading independent investment banking firm providing M&A advisory services to healthcare companies, today announced that it acted as exclusive financial advisor to Associated Anesthesiologists of Reno, P.C. (“AAR”) in the sale of the company to MEDNAX, Inc. (NYSE: MD).  The transaction closed on August 5, 2016 and was led by Jeff Swearingen, Managing Director, Co-founder of Edgemont, and Head of the Firm’s Physician Services Group.

    Established in 1949, Associated Anesthesiologists of Reno is the largest anesthesia practice in Northern Nevada. The practice provides anesthesia care across a wide spectrum of subspecialty areas, including orthopedic, critical care, obstetric, pediatric and cardiac, and trauma as well as acute pain services. Associated Anesthesiologists of Reno employs 56 full time-anesthesiologists and is the exclusive provider of services to Renown Regional Medical Center, an 808-bed facility, a level 2 Trauma Center, and the only children’s hospital and emergency room in the region. The practice also provides services to Northern Nevada Medical Center, Carson Valley Medical Center and various ambulatory surgical centers throughout the area.

    “We wanted to join a national organization that truly understands the importance of hospital partnerships, and one whose culture and commitment to delivering the highest quality patient care parallels our own,” said Matthew Hoberg, M.D., AAR’s current President and CEO. “We developed a relationship with Jeff and the Edgemont team several years before embarking on this sale process and their expert advice and industry insights in the years leading up to and throughout the transaction resulted in a very competitive sale process that brought us an outstanding partner and a fantastic outcome for AAR,” Dr. Hoberg added. “Edgemont served AAR as a true trusted advisor.”

    Mr. Swearingen said, “Physician practice consolidation remains at the record levels we saw in 2015 as the rollout of the Patient Protection and Affordable Care Act (“ACA”) and the Medicare Access and CHIP Reauthorization Act (“Macra”) continue to create upheaval, increased complexity, and reimbursement uncertainty in the provision of healthcare services.  This environment has led many anesthesia and other hospital-based specialty practices to sell or merge their practices into larger organizations that offer more management depth, access to capital, greater financial stability and other expertise to support physician practices.  We believe this trend will continue as we are in the early stages of the reshaping of the provision of and reimbursement for healthcare.”

    Edgemont’s role as AAR’s exclusive advisor is the firm’s ninth closed transaction on behalf of hospital-based physician groups and management companies and sixth Anesthesia services provider.  Edgemont, a healthcare investment bank, has now served as exclusive advisor to anesthesia practices and management companies that account for approximately 500,000 annual cases. Edgemont previously represented Milford Anesthesia Associates in its sale to Envision Healthcare Holdings, Inc. (NYSE: EVHC); South Oakland Anesthesia Associates in its sale to MEDNAX, Inc. (NYSE: MD); Wolverine Anesthesia Consultants in its sale to TeamHealth Holdings Inc.; New Jersey Anesthesia Associates in its sale to MEDNAX, Inc.; Anesthesia Services Associates in its sale to PhyMed Management, LLC; Premier Emergency Medical Specialists, PLLC (“PEMS”) in its sale to Sheridan, the Physician Services division of AmSurg Corp. (NASDAQ:AMSG); Premier Physician Services, Inc. (of Dayton, Ohio) in its sale to TeamHealth Holdings Inc. (NYSE: TMH); and Practice Support Resources, LLC in its sale to Intermedix Corporation.

    “Independent, high quality physician practices of scale are seeking the highest level of quality and experience in the financial advisors they hire.  Edgemont is unsurpassed in its track record of achieving the best transaction outcomes for our independent physician practice clients,” added Mr. Swearingen.  “No other investment banking firm has represented more large and mid-sized independent anesthesia groups in sale transactions and Edgemont is the only investment bank that has represented independent groups in sale transactions with all of the publicly-traded hospital-based specialty providers, including EmCare, MEDNAX, Sheridan and TeamHealth.”

    Associate, Vitaliy Marchenko, and two of the firm’s analysts completed the Edgemont transaction team.  Brent Hill and Amanda Jester of Waller Lansden Dortch & Davis, LLP served as legal counsel to AAR.

    About Edgemont Capital Partners, L.P.

    Edgemont Capital Partners, L.P. (www.edgemontcapital.com) is an independent investment banking firm founded in 2001 to provide the founders, physicians, and entrepreneurs who represent the cornerstones of healthcare provider services the highest quality strategic advisory and capital raising services.  The firm’s deep healthcare industry knowledge, extensive relationship network and substantial transaction expertise allows Edgemont to address healthcare companies’ strategic and financing needs with great success. The firm’s principals have closed over 100 healthcare transactions, representing more than $30 billion in value.

    For more information on Edgemont Capital Partners, L.P.’s efforts in Physician Services contact Jeff Swearingen at +1 (212) 867-8938.

    Investment banking services are provided by Edgemont Capital Partners, L.P., a registered broker-dealer and member of FINRA and SIPC.

    Associated Anesthesiologists of Reno

    “We wanted to join a national organization that truly understands the importance of hospital partnerships, and one whose culture and commitment to delivering the highest quality patient care parallels our own. We developed a relationship with Jeff and the Edgemont team several years before embarking on this sale process and their expert advice and industry insights in the years leading up to and throughout the transaction resulted in a very competitive sale process that brought us an outstanding partner and a fantastic outcome for AAR. Edgemont served AAR as a true trusted advisor.”

    Dr. Matthew Hoberg
    CEO
    Associated Anesthesiologists of Reno

  • TRANSACTION OVERVIEW
    acquired by
    July 2016
    • Compass Research
    • Broad Exclusive Sale
    • Orlando, FL
    • Sean Stanton, CEO; Ownership: Sean Stanton and Craig Curtis, MD
    • Edgemont Capital Partners acted as exclusive financial advisor to Compass Research in the sale of the Company to Bioclinica
    • Confidential
    • Compass Research is the leading neurology clinical research site services company

    Case Study: Compass Research

    Compass Research is the leading clinical research site services company focused on neurology, and conducts studies in a range of other therapeutic areas

    • Edgemont retained in January 2016 to explore sale of the Company
    • Edgemont conducted a competitive auction process broadly marketed to strategic and financial buyers
    • Transaction announced July 25, 2016
      • Founded in 2006, Compass grew over a 10-year period to become the leading independent research site company focused in neuroscience. The principals desired to accelerate their growth and to build a larger geographic presence. They also sought to de-risk this growth strategy. Edgemont approached a broad buyer universe, given rapidly evolving buyer universe interest. The Company attracted strong buyer interest based on its strong neurology presence, overall scale and growth potential, in addition to its scale for a site company. Compass selected Bioclinica as its transaction partner based on its synergistic fit with its existing businesses, role post-transaction, and valuation. Bioclinica’s interest was motivated by its desire to expand its network to North America and gain a foothold in the U.S.

    Edgemont Capital Partners Completes Sale of Compass Research to Bioclinica

    Edgemont Capital acted as exclusive financial advisor to Compass Research in its sale to Bioclinica

    NEW YORK & ORLANDO, Fla.–(BUSINESS WIRE)–Edgemont Capital Partners, a leading independent healthcare investment banking firm, today announced that it served as exclusive financial advisor to Compass Research, LLC in the company’s sale to Bioclinica announced on July 25, 2016.

    Compass Research, a leading provider of neuroscience drug development clinical research services, focuses on conducting Phase I-IV clinical trials in central nervous system (CNS) disorders, as well as other therapeutic areas. The Compass Research transaction team was led by David Blume, Managing Director and Head of Edgemont’s Pharmaceutical Services Group, Reid Petersen, an Associate with Edgemont, and Jay Moon, an Analyst with the firm. The sale of Compass Research is the 13th clinical research site company transaction closed by Edgemont, and the 12th transaction for a CNS focused outsourced pharmaceutical services company.

    “The highly fragmented clinical research site services market is consolidating rapidly. Leading companies in the industry, particularly those with strong clinical and therapeutic expertise such as Compass Research, are in increasingly high demand by a growing number of strategic and financial buyers. These acquirers are seeking to capitalize on benefits of scale for site services given evolving clinical trials business dynamics and in order to address the acute challenges of subject recruitment. As a result, we expect industry consolidation to accelerate,” said Blume.

    Founded in 2006, Compass Research conducts early and late stage clinical research studies for global and mid-sized pharmaceutical and biotech sponsors, as well as leading Contract Research Organizations (CROs), in its state-of-the-art research facilities and clinical pharmacology units located in Orlando, the Villages and Melbourne, all in Florida. The Company is a leading neuroscience research site services company, and also performs studies in a broad range of other indications.

    “We selected Edgemont as our advisor based on their unparalleled M&A expertise in the clinical research services industry and extensive experience advising companies focused on CNS drug development services. Their industry knowledge and transaction expertise were an ideal fit with our strategic needs. We appreciate Edgemont’s commitment to our Company in the sale process. They proved to be a trusted and immensely valuable advisor. Their efforts resulted in a highly successful transaction with an exceptional partner for our Company in Bioclinica,” said Sean Stanton, CEO of Compass Research.

    About Bioclinica

    Bioclinica is a specialty services provider that utilizes expertise and technology to create clarity in the clinical trial process. Bioclinica is organized by three business segments to deliver focused service supporting multifaceted technologies. The Medical Imaging and Biomarkers segment provides medical imaging and cardiac safety services and includes a molecular marker laboratory. The eHealth Solutions segment comprises the eClinical Solutions platform; Clinverse Financial Lifecycle Solutions; Safety and Regulatory Solutions; Strategic Consulting Services; App xChange Alliances; and eHealth Cloud Services. Under the Global Clinical Research segment, Bioclinica offers a network of research sites, patient recruitment-retention services, and a post-approval research division. The Company serves more than 400 pharmaceutical, biotechnology and device organizations – including all of the top 20 – through a network of offices in the U.S., Europe and Asia. Learn more at www.bioclinica.com.

    About Edgemont Capital Partners

    Edgemont Capital Partners is a leading independent investment banking firm focused on the merger and acquisitions advisory and financing needs of healthcare companies. Edgemont’s deep healthcare industry knowledge and extensive transaction expertise supports the firm’s unsurpassed ability to address healthcare companies’ strategic advisory (M&A) and financing needs with great success. Edgemont provides sell-side and acquisition advisory, restructuring advisory, board advisory and private placement services.

    For more information on Edgemont Capital Partners Pharmaceutical Services expertise contact David Blume at +1 (212) 867-8937 and see www.edgemontcapital.com.

    Investment banking services are provided by Edgemont Capital Partners, LP, a registered broker-dealer and member of FINRA and SIPC.

    Contacts

    Edgemont Capital Partners
    David Blume, +1 212-867-8937

     

    Compass Research

    “We selected Edgemont as our advisor based on their unparalleled M&A expertise in the clinical research services industry and extensive experience advising companies focused on CNS drug development services. Their industry knowledge and transaction expertise were an ideal fit with our strategic needs. We appreciate Edgemont’s commitment to our Company in the sale process. They proved to be a trusted and immensely valuable advisor. Their efforts resulted in a highly successful transaction with an exceptional partner for our Company in Bioclinica.”

    Sean Stanton
    CEO
    Compass Research

     

  • TRANSACTION OVERVIEW
    acquired by
    December 2015
    • Premier Emergency Medical Specialists
    • Limited Exclusive Sale
    • Chandler, AZ
    • Dr. Evan Leibner, CEO
    • Edgemont Capital Partners acted as exclusive financial advisor to PEMS in its sale to Sheridan Healthcare, the Physician Services division of AmSurg Corp.
    • Confidential
    • PEMS provides emergency medicine staffing for two Dignity Health system facilities in the Phoenix metropolitan area

    Case Study: Premier Emergency Medical Specialists

    Edgemont served as the exclusive financial advisor to Premier Emergency Medical Specialists (“PEMS”) in its sale to Sheridan

    • PEMS had established a very solid presence within the Dignity Health system in the greater Phoenix market
    • PEMS’ leadership felt resource challenged in responding to Dignity’s requests to provide emergency medicine staffing at additional Dignity facilities
    • Significant HOCS mergers and acquisitions were occurring in Phoenix, reshaping hospital alignment and relationships
      • Emergency Medicine
      • Hospital Medicine
      • Anesthesia
    • PEMS had been approached and received an offer from a private equity-backed rollup, which offered significant equity and contingent value
    • PEMS retained Edgemont in February 2015 to explore and advise the company on a strategic sale process including the existing offer
    • Edgemont prepared an information packet, contacted strategic buyers and generated five written initial offers
    • PEMS met with three groups and proceeded into detailed due diligence, culminating in multiple final bids with valuations well in excess of initial offers
    • PEMS closed with Sheridan in December 2015 on a very favorable valuation and terms

    Edgemont Capital Partners Completes Sale of Premier Emergency Medical Specialists to Sheridan

    Healthcare investment banking firm serves as exclusive financial advisor to PEMS, one of the leading independent Emergency Medicine physician groups in Arizona

    NEW YORK and PHOENIX, December 7, 2015 — Edgemont Capital Partners, L.P., a leading independent investment banking firm providing M&A advisory services to healthcare companies, today announced that it has acted as exclusive financial advisor to Premier Emergency Medical Specialists, PLLC (“PEMS”) in its sale to Sheridan, the Physician Services division of AmSurg Corp. (NASDAQ:AMSG).  The transaction closed on December 4, 2015 and was led by Edgemont managing directors Jeff Swearingen and Luke Mitchell.

    Mr. Swearingen, co-founder of Edgemont, and head of the firm’s Physician Services Group, said, “We continue to see substantial interest in consolidation across multiple physician specialties, driven by the changing economics of the healthcare industry.  While 2015 has been a very active year for both buyers and sellers, the market dynamics suggest that this trend is likely to continue going into 2016 and beyond.”

    Mr. Mitchell, partner at Edgemont, and leader of the firm’s office-based Physician Services initiatives, added, “The acquisition of PEMS by Sheridan is the kind of high quality transaction that creates substantial benefits for both parties.  We were delighted to have the opportunity to work with these two outstanding management teams in order to make this transaction a reality.”

    PEMS was established in 2003 and provides emergency medicine staffing for two Dignity Health system facilities in the Phoenix metropolitan area: Chandler Regional Medical Center and Mercy Gilbert Medical Center.  PEMS’s more than 50 physicians and advanced practice clinicians care for over 120,000 patients annually, and PEMS is consistently ranked as one of the highest performing emergency medicine groups within the entire multi-state Dignity Health system.

    Dr. Evan Leibner, President and Chief Executive Officer of PEMS commented, “The close of this transaction, and the beginning of our partnership with Sheridan, is a tremendous outcome for our shareholders, all of our clinicians, our partners at Dignity, and the patients and communities we serve.  The combination of PEMS’ exceptional emergency medicine clinical care and Sheridan’s operational, IT, and financial systems and best practices, will ensure that together we are able to continue to be leaders in improving emergency medicine, not just in Arizona, but the entire region.”

    Dr. Leibner continued, “We are grateful to the Edgemont team for their expert advice and guidance throughout the sale process.  Their professionalism and dedication to this engagement, and the depth of their industry experience, resulted in a competitive process that brought us an outstanding partner.”

    The sale of PEMS represents Edgemont’s eighth closed transaction on behalf of hospital-based physician groups and management companies, and third in emergency medicine.  Edgemont previously represented Premier Physician Services, Inc. (of Dayton, Ohio) in its sale to TeamHealth Holdings Inc. (NYSE: TMH), Practice Support Resources, LLC in its sale to Intermedix Corporation, Milford Anesthesia Associates in its sale to Envision Healthcare Holdings, Inc. (NYSE: EVHC); South Oakland Anesthesia Associates in its sale to MEDNAX, Inc. (NYSE: MD); Wolverine Anesthesia Consultants in its sale to TeamHealth Holdings Inc.; New Jersey Anesthesia Associates in its sale to MEDNAX, Inc.; and Anesthesia Services Associates in its sale to PhyMed Management, LLC

    Associate Vitaliy Marchenko and Analyst Yaffet Menna completed the Edgemont transaction team.  Terry Roman, partner at Snell & Wilmer, and Brad Martorana, counsel, served as legal counsel to PEMS.

    About Edgemont Capital Partners, L.P.

    Edgemont Capital Partners, L.P. (www.edgemontcapital.com) is a specialty M&A advisory firm dedicated to providing the highest quality strategic advisory and capital raising services to healthcare companies.  The firm’s deep healthcare industry knowledge, extensive relationship network and substantial transaction expertise allows Edgemont to address healthcare companies’ strategic and financing needs with great success. Edgemont Capital Partners, L.P. provides sell-side and acquisition advisory, restructuring advisory, board advisory and private placement services.

    For more information on Edgemont Capital Partners, L.P.’s efforts in Physician Services contact Jeff Swearingen at +1 (212) 867-8938.

    Investment banking services are provided by Edgemont Capital Partners, L.P., a registered broker-dealer and member of FINRA and SIPC.

    Premier Emergency Medical Specialists

    “We are grateful to the Edgemont team for their expert advice and guidance throughout the sale process.  Their professionalism and dedication to this engagement, and the depth of their industry experience, resulted in a competitive process that brought us an outstanding partner.”

    Dr. Evan Leibner
    CEO
    Premier Emergency Medical Specialists

     

  • TRANSACTION OVERVIEW
    acquired by
    November 2015
    • Anesthesia Services Associates
    • Focused Exclusive Sale
    • Nashville, TN
    • Dr. Steve Dickerson, Senior Clinician
    • Edgemont Capital Partners acted as exclusive financial advisor to ASA in its sale to PhyMed
    • Confidential
    • ASA provides anesthesia department management and staffing for TriStar Hendersonville Medical Center, an HCA hospital and several ambulatory surgery centers

    Case Study: Anesthesia Services Associates 

    Edgemont served as the exclusive financial advisor to Anesthesia Services Associates (“ASA”) in its sale to PhyMed

    • ASA engaged Edgemont to explore a range of strategic and financial alternatives for its two divisions, Comprehensive Pain Specialists ("CPS") and ASA's hospital-based anesthesia division ("ASA OR")
      • CPS is a large and growing office-based interventional pain management group with over 50 office locations
    • Given CPS' legal structure, Edgemont recommended the sale of ASA OR through an asset sale structure and exploring a subsequent private equity recapitalization for CPS after completing the ASA OR disvestiture
    • PhyMed was the most logical strategic buyer for ASA OR given its presence in Nashville. Edgemont approached PhyMed with the opportunity and it made an initial offer
    • PhyMed's initial offer valuation was viewed as inadequate, and Edgemont approached another logical buyer to create a stalking horse bid
      • Edgemont's stalking horse strategy generated a superior offer from another acquirer
    • As a result of the competitive bidding dynamic, PhyMed significantly increased the valuation of its offer and closed the transaction on an accelerated time frame

    Edgemont Capital Partners Supports Anesthesia Services Associates in Completed Sale to PhyMed

    Healthcare investment banking firm serves as exclusive financial advisor to ASA

    NEW YORK and NASHVILLE, November 19, 2015 — Edgemont Capital Partners, LP (“Edgemont”), a leading independent investment banking firm providing M&A advisory services to healthcare companies, today announced that it acted as exclusive financial advisor to Anesthesia Services Associates, PLLC (“ASA”) in its sale to PhyMed Management, LLC. Terms of the transaction were not disclosed.

    ASA provides anesthesia department management and staffing for TriStar Hendersonville Medical Center, an HCA hospital and several ambulatory surgery centers.  The transaction closed on November 16, 2015.  Jeff Swearingen, managing director, co-founder of Edgemont, and head of the firm’s Physician Services Group, led the Edgemont engagement team, along with Luke Mitchell and Reid Petersen.  Brent Hill of Waller Lansden Dortch & Davis, LLP acted as legal counsel to ASA in the transaction.

    The sale of ASA is Edgemont’s seventh closed transaction on behalf of hospital-based physician groups and management companies and fifth in anesthesia.  Edgemont has now served as exclusive advisor to anesthesia practices and management companies that account for over 400,000 annual cases.  Edgemont previously represented Milford Anesthesia Associates in its sale to Envision Healthcare Holdings, Inc. (NYSE: EVHC); South Oakland Anesthesia Associates in its sale to MEDNAX, Inc. (NYSE: MD); Wolverine Anesthesia Consultants in its sale to TeamHealth Holdings Inc. (NYSE: TMH), and New Jersey Anesthesia Associates in its sale to MEDNAX, Inc. (NYSE: MD).  Edgemont also advised Premier Physician Services, Inc. in its sale to TeamHealth Holdings Inc. (NYSE: TMH), and Practice Support Resources, LLC in its sale to Intermedix Corporation.

    “Independent, high quality physician practices of scale are seeking the highest level of quality and experience in the financial advisors they hire,” said Mr. Swearingen.  “Edgemont is unsurpassed in its success in advising physician practices.”

    About Edgemont Capital Partners, L.P.

    Edgemont Capital Partners, LP (www.edgemontcapital.com) is a leading independent investment banking firm founded in 2001 providing the highest quality strategic advisory and capital raising services to healthcare companies.  The firm’s deep healthcare industry knowledge, broad relationship network and extensive transaction expertise allow Edgemont to address healthcare companies’ strategic and financing needs with great success. The firm’s principals have closed over 100 transactions, representing more than $30 billion in value.

    For more information on Edgemont’s efforts in Physician Services contact Jeff Swearingen at +1 (212) 867-8938.

    Investment banking services are provided by Edgemont Capital Partners, LP, a registered broker-dealer and member of FINRA and SIPC.

    Anesthesia Services Associates

    “Edgemont’s anesthesia industry relationships and transaction expertise helped ASA to maximize the value of our practice with the best strategic partner for our group.”

    Dr. Steven Dickerson
    Senior Clinician
    Anesthesia Services Associates 

  • TRANSACTION OVERVIEW
    recapitalized by
    October 2015
    • WorkWell Medical Group
    • Recapitalization
    • Salinas, CA
    • Dr. Sheilaja Mittal, CEO and Vikram Mittal
    • Edgemont Capital Partners acted as exclusive financial advisor to WorkWell in its recapitalization by Salt Creek Capital
    • Confidential
    • WorkWell is a leading independent urgent care and occupational medicine provider in California

    Case Study: WorkWell Medical Group

    Edgemont served as the exclusive financial advisor to WorkWell Medical Group ("WorkWell") in its recapitalization by Salt Creek Capital

    • Edgemont was retained by WorkWell in February 2015 to advise the founding wife-husband team of Dr. Sheilaja Mittal and Mr. Vikram Mittal on their strategic options
    • The owners were seeking a partner with meaningful experience growing a healthcare business, who could help capitalize on attractive market opportunities in central California
    • Edgemont reviewed Workwell’s financials and helped prepare the company for the potential partnership
      • Edgemont worked with the Mittals to identify and retain key transaction accounting and tax support
    • Edgemont recommended a broad auction process to include strategic acquirers and financial investors
      • Edgemont received significant interest from both groups of potential partners
    • WorkWell completed a transaction with Salt Creek Capital in October 2015
      • Edgemont ran a very competitive sale process with WorkWell receiving multiple, attractive final offers

    Edgemont Capital Partners Advises WorkWell Medical Group In Equity Investment By Salt Creek Capital

    Healthcare investment banking firm serves as exclusive financial advisor to WorkWell, the leading provider of occupational medicine and urgent care services in central California

    NEW YORK and SALINAS, C.A., November 10, 2015 — Edgemont Capital Partners, LP, a leading independent investment banking firm providing M&A advisory services to healthcare companies, today announced that it acted as exclusive financial advisor to WorkWell Medical Group, LLC (“WorkWell”) in its investment and recapitalization by Salt Creek Capital.  Terms of the deal were not disclosed.

    WorkWell Medical Group (www.workwellmedical.com), founded in 2003 by Dr. Sheilaja Mittal and Vikram Mittal, and headquartered in Salinas, California, offers patients and employers an in-house network of specialists, a multidisciplinary rehabilitation facility and a state-of-the-art mobile medical clinic, all providing a complete suite of healthcare services to improve healing time for employees, enabling them to return to work more quickly.  The company owns and manages five medical clinics providing occupational medicine, workers compensation care and case management, as well as urgent care services throughout the central coast of California.  The transaction closed on October 22, 2015.  Luke J. Mitchell, managing director, and leader of the firm’s efforts with office-based physician services groups, led the Edgemont engagement team, along with associate Vitaliy Marchenko.

    The recapitalization of WorkWell is Edgemont’s seventh closed transaction on behalf of physician groups, clinics, and practice management companies.

    “Through twelve years of dedication and tireless devotion to quality clinical care and patient satisfaction, WorkWell has earned its reputation throughout California and the Western U.S. as being the go-to provider of walk-in medical services for patients and employers in central California,” said Mr. Mitchell.  “Workwell was seeking a financial partner to provide the experience, capital, and management expertise to support the company’s tremendous growth, including its plans to expand to other parts of California.  Out of a comprehensive and highly competitive marketing process, Edgemont identified Salt Creek as an ideal partner for Workwell.”

    “After interviewing several firms we chose to work with Edgemont based on their long track record of working on behalf of medical practices and healthcare entrepreneurs, and their commitment to helping us achieve our personal and professional goals,” said Dr. and Mr. Mittal, founders of WorkWell.  “From the beginning of the engagement, Luke and the Edgemont team demonstrated a strong understanding of our business, and were able to effectively communicate our vision and strategy to the universe of potential partners.  The Edgemont team provided exceptional advice and brought us a range of highly attractive, and actionable, strategic options that resulted in a great outcome for us, WorkWell, our employees, and our customers.”

    About WorkWell

    Founded in 2003, WorkWell is the largest independent occupational medicine and urgent care provider in Central California.  The Company is a provider of choice for major employers and medical provider networks in California’s Central Coast.  More information can be found at www.workwellmedical.com.

    About Salt Creek Capital

    Salt Creek Capital is a San Francisco Bay Area-based private equity firm partnering with experienced operating executives to acquire profitable companies with up to $100 million in revenue. Salt Creek takes a long-term approach to investing in lower middle market businesses and seeks to create value by working closely with management teams to accelerate growth and to improve the operating efficiency of its portfolio companies. More information is available at www.saltcreekcap.com.

    About Edgemont Capital Partners, L.P.

    Edgemont Capital Partners, LP (www.edgemontcapital.com) is a leading independent investment banking firm founded in 2001 providing the highest quality strategic advisory and capital raising services to healthcare companies.  The firm’s deep healthcare industry knowledge, broad relationship network and extensive transaction expertise allows Edgemont to address healthcare companies’ strategic and financing needs with great success. The firm’s principals have closed over 100 transactions, representing more than $30 billion in value.

    For more information on Edgemont’s efforts in office-based physician specialties, including urgent care, occupational medicine, dermatology, and dental, contact Luke Mitchell at (212) 867-5181.

    Investment banking services are provided by Edgemont Capital Partners, LP, a registered broker-dealer and member of FINRA and SIPC.

    WorkWell Medical Group

    “After interviewing several firms we chose to work with Edgemont based on their long track record of working on behalf of medical practices and healthcare entrepreneurs, and their commitment to helping us achieve our personal and professional goals. From the beginning of the engagement, Luke and the Edgemont team demonstrated a strong understanding of our business, and were able to effectively communicate our vision and strategy to the universe of potential partners.  The Edgemont team provided exceptional advice and brought us a range of highly attractive, and actionable, strategic options that resulted in a great outcome for us, WorkWell, our employees, and our customers.”

    Dr. Sheilaja Mittal and Vikram Mittal
    WorkWell Medical Group

  • TRANSACTION OVERVIEW
    acquired by
    September 2015
    • New Jersey Anesthesia Associates
    • Limited Exclusive Sale
    • Livingston, NJ
    • Dr. Rae Pak, CEO
    • Edgemont Capital Partners acted as exclusive financial advisor to NJAA in its sale to MEDNAX
    • Confidential
    • NJAA is the anesthesiology services provider to Saint Barnabas Medical Center and Newark Beth Israel Medical Center as well as numerous surgery centers and office locations

    Case Study: New Jersey Anesthesia Associates

    Edgemont served as the exclusive financial advisor to New Jersey Anesthesia Associates (“NJAA”) in its sale to MEDNAX

    • Edgemont was retained by NJAA in early 2015 to advise the partnership on its strategic options after NJAA received an initial offer from a private equity-backed strategic acquirer
      • Initial offer contained a significant equity and earn-out component
      • Proposal was for the physician practice and excluded the management company
    • Edgemont’s preliminary valuation work confirmed NJAA’s belief that the initial offer significantly undervalued NJAA
      • Significant concerns about the feasibility of the earn-out and value of the equity component of the offer
      • Management and billing company also served other clients and would be left in limbo
    • Edgemont performed a full analysis of NJAA’s strategic and financial options
      • Our analysis concluded an auction process among multiple strategic acquirers was the best alternative
      • The process involved the sale of both the practice and the management company in one transaction
    • Edgemont received initial bids in mid-2015
      • Four attractive and competitive initial offers from other strategic acquirers
    • Edgemont worked with NJAA to interview and retain a transaction legal firm
    • Edgemont took second round bidders through a full diligence process and requested final bids in the form of a marked-up purchase contract
      • Competitive final bidding concluded with a sale to MEDNAX on very attractive terms
      • Final purchase price was significantly higher than the offer received prior to Edgemont’s engagement
      • Final purchase price was significantly higher than the initial round offers

    Edgemont Capital Partners Completes Sale of New Jersey Anesthesia Associates to MEDNAX

    Healthcare investment banking firm serves as exclusive financial advisor to NJAA, one of the largest independent anesthesia physician groups in the Northeast

    NEW YORK and LIVINGSTON, N.J., September 28, 2015 — Edgemont Capital Partners, LP, a leading independent investment banking firm providing healthcare M&A advisory services to healthcare companies, today announced that it has acted as exclusive financial advisor to New Jersey Anesthesia Associates, PC and its affiliated management company, Health Network Management, LLC (collectively “NJAA”) in its sale to MEDNAX, Inc. (NYSE: MD). Terms of the transaction were not disclosed.

    NJAA, established in 1996, provides anesthesia department management and staffing for Saint Barnabas Medical Center and Newark Beth Israel Medical Center, two of the largest health care providers in New Jersey, as well four ambulatory surgery centers and five outpatient facilities, and chronic pain services at five pain centers.  The transaction closed on September 25, 2015.  Jeff Swearingen, managing director, co-founder of Edgemont, and head of the firm’s Physician Services Group, led the Edgemont engagement team, along with Luke Mitchell, Vitaliy Marchenko and Anish Dalsania.  Brent Hill and Amanda Jester of Waller Lansden Dortch & Davis, LLP acted as legal counsel to NJAA in the transaction.

    “Physician practice consolidation has accelerated in 2015 as the rollout of the Patient Protection and Affordable Care Act continues to create upheaval, increased complexity, and financial pressure in the provision of healthcare services.  This environment has led many anesthesia and other hospital-based specialty practices to sell or merge their practices into larger organizations that offer greater management depth, better access to capital, economies of scale, IT and other expertise to support physician practices.  We believe this trend will continue and the pace of consolidation will accelerate,” said Mr. Swearingen.

    The sale of NJAA is Edgemont’s sixth closed transaction on behalf of hospital-based physician groups and management companies and fourth in anesthesia.  Edgemont has now served as exclusive advisor to anesthesia practices and management companies that account for approximately 400,000 annual cases.  Edgemont previously represented Milford Anesthesia Associates in its sale to Envision Healthcare Holdings, Inc. (NYSE: EVHC); South Oakland Anesthesia Associates in its sale to MEDNAX, Inc. (NYSE: MD); and Wolverine Anesthesia Consultants in its sale to TeamHealth Holdings Inc. (NYSE: TMH).  Edgemont also advised Premier Physician Services, Inc. in its sale to TeamHealth Holdings Inc. (NYSE: TMH), and Practice Support Resources, LLC in its sale to Intermedix Corporation.

    “Independent, high quality physician practices of scale are seeking the highest level of quality and experience in the financial advisors they hire.  Edgemont is unsurpassed in its success in advising physician practices,” added Mr. Swearingen.

    NJAA employs 90 full-time clinicians (70 anesthesiologists, 13 anesthetists, two nurse practitioners and five physician assistants) that provide a full spectrum of anesthesia services at Saint Barnabas Medical Center (SBMC), a 577-bed non-profit teaching hospital, and Newark Beth Israel Medical Center. SBMC is the oldest and largest non-profit, nonsectarian hospital in New Jersey, serving more than 32,500 inpatients annually and together with Barnabas Health Ambulatory Center, more than 300,000 outpatients annually.

    Both hospitals are part of Barnabas Health, New Jersey’s largest integrated health care delivery system. In addition, the practice provides anesthesia services at four ambulatory surgery centers and five outpatient facilities, and chronic pain services at five pain centers.

    NJAA provides services in collaboration with highly advanced acute-care programs at Barnabas Health. The practice’s anesthesia services include general anesthesia, cardiac, obstetric, transplant, critical care, chronic pain and acute pain management for post-operative pain. More than 20 of NJAA’s physicians hold advanced training in anesthesia sub-specialties, particularly cardiac and pediatric anesthesia, or multiple board certifications. NJAA also supports the health system’s advanced care programs through cardiac anesthesia fellowships, residency programs, management of post-operative care of cardiac surgery patients, and participation in a perioperative surgical home collaborative.

    “Edgemont’s anesthesia industry knowledge and transaction expertise allowed NJAA to realize an exceptional result that exceeded our expectations,” said Dr. Rae Pak, Chief Executive Officer of NJAA.  “Jeff and the Edgemont team possess a deep understanding of anesthesia services and their commitment to achieving the best outcome allowed our shareholders to maximize value and to partner with an industry leader that provides long term stability for our providers and staff.

    “We selected Edgemont over other firms we interviewed based on their proven track record in anesthesia services, renowned client service and the clear expertise they demonstrated during our investment banker evaluation process. The success of this transaction confirms that we made the best possible choice in electing to retain Edgemont as our M&A advisor,” Dr. Pak said.

    About Edgemont Capital Partners, L.P.

    Edgemont Capital Partners, LP (www.edgemontcapital.com) is a leading independent investment banking firm founded in 2001 providing the highest quality strategic advisory and capital raising services to healthcare companies.  The firm’s deep healthcare industry knowledge, broad relationship network and extensive transaction expertise allows Edgemont to address healthcare companies’ strategic and financing needs with great success. The firm’s principals have closed over 100 transactions, representing more than $30 billion in value.

    For more information on Edgemont’s efforts in Physician Services contact Jeff Swearingen at +1 (212) 867-8938.

    Investment banking services are provided by Edgemont Capital Partners, LP, a registered broker-dealer and member of FINRA and SIPC.

    New Jersey Anesthesia Associates

    "We selected Edgemont over other firms we interviewed based on their proven track record in anesthesia services, renowned client service and the clear expertise they demonstrated during our investment banker evaluation process. The success of this transaction confirms that we made the best possible choice in electing to retain Edgemont as our M&A advisor."

    Dr. Rae Pak
    CEO

    NJAA

  • TRANSACTION OVERVIEW
    Service Business acquired by
    July 2015
    • SCYNEXIS
    • Broad Exclusive Sale
    • Durham, NC
    • Marco Taglietti, M.D., CEO / Public
    • Edgemont Capital Partners acted as exclusive financial advisor to SCYNEXIS in the sale of their Service Business to Avista Pharma Solutions, an Ampersand Portfolio Company
    • Confidential
    • Contract Development and Manufacturing Organization (CDMO) for Animal and Human Health pharmaceuticals

    Pharmaceutical Services Case Studies

    Case Study: SCYNEXIS

    • SCYNEXIS Retained Edgemont in Sept 2014 to perform a review of strategic alternatives
    • Edgemont presented its recommendations to the board in Oct 2014
    • The board elected to pursue Edgemont’s recommendation to divest its contract research and development services business in order to focus on its drug development activities, including its lead, compound SCY-078
    • Edgemont conducted a broad marketing process to secure a buyer for the services business, which resulted in the sale of the business to Avista Pharma Solutions. Avista is a business unit of Accuratus Lab Services, Inc. Accuratus is a portfolio company of Ampersand Capital Partners.

    Edgemont Capital Partners Completes Sale of SCYNEXIS Contract Research and Development Business to Avista Pharma Solutions, an Ampersand Capital Partners Portfolio Company

    NEW YORK & RESEARCH TRIANGLE PARK, N.C.–(BUSINESS WIRE)–Today Edgemont Capital Partners, a leading independent investment banking firm providing merger and acquisition advisory services to healthcare companies, announced that it acted as exclusive financial advisor to SCYNEXIS, Inc. in the sale of its contract research and development services business to Avista Pharma Solutions. The deal was announced on July 23.

    SCYNEXIS, a pharmaceutical company committed to the discovery, development and commercialization of novel anti-infectives to address significant unmet therapeutic needs, divested its contract research and development business to focus on development of its lead compound SCY-078. The contract research and development business includes a novel screening platform and technology utilized by leading animal health companies, as well as Good Manufacturing Practices Active Pharmaceutical Ingredient (GMP API) process chemistry and analytical service offerings for biotech and pharmaceutical companies. The transaction was led by David Blume, Managing Director and Head of the firm’s Pharmaceutical Services Group, Reid Petersen and Anish Dalsania.

    “We are pleased to be part of this ‘win-win’ transaction which will allow SCYNEXIS to focus on development of its lead asset SCY-078 and provide a strong platform for this exceptional contract research, development and manufacturing business to capitalize on the strong market demand given the robust market conditions for outsourced pharmaceutical services,” said Blume.

    “Edgemont was instrumental to us achieving our goals in this transaction, providing valuable advice and flawless execution. We are grateful for their efforts,” commented Dr. Marco Taglietti, CEO of SCYNEXIS.

    As part of the transaction, Avista will occupy SCYNEXIS’ former research and GMP manufacturing facility in Durham, North Carolina and hire substantially all employees associated with the contract services research and development business. Avista is a contract development and manufacturing organization (CDMO) formed through the recent, strategic carve-outs of the CMC business of Array BioPharma, Inc. and contract services business of SCYNEXIS. Avista’s CEO is Patrick Walsh. Avista is a business unit of Accuratus Lab Services, Inc. (Accuratus). Accuratus is a portfolio company of Ampersand Capital Partners.

    About Edgemont Capital Partners

    Edgemont Capital Partners, LP (www.edgemontcapital.com) is an independent investment banking firm founded in 2001 providing merger and acquisition and financing advisory services to healthcare companies. The firm’s deep healthcare industry knowledge and extensive transaction expertise allows it to address healthcare companies’ strategic (M&A) and financing needs with great success. The firm’s principals have closed over 100 transactions, representing more than $30 billion in value.

    For more information on Edgemont Capital Partners’ expertise in pharmaceutical services and other healthcare sectors contact David Blume at +1 (212) 867-8937 and visit www.edgemontcapital.com.

    Investment banking services are provided by Edgemont Capital Partners, LP, a registered broker-dealer and member firm of FINRA and SIPC.

    SCYNEXIS

    “Edgemont was instrumental to us achieving our goals in this transaction, providing valuable advice and flawless execution. We are grateful for their efforts.”

    Dr. Marco Taglietti
    CEO

    SCYNEXIS

  • TRANSACTION OVERVIEW
    acquired
    June 2015
    • Diplomat Pharmacy
    • Limited Exclusive Sale
    • Flint, MI
    • Phil Hagerman, CEO
    • Edgemont Capital Partners acted as exclusive financial advisor to Diplomat in its acquisition of BurmansRx
    • $82.8 million
    • Diplomat Pharmacy is the largest independent specialty pharmacy in the United States
  • TRANSACTION OVERVIEW
    acquired
    February 2015
    • Diplomat Pharmacy
    • Limited Exclusive Sale
    • Flint, MI
    • Phil Hagerman, CEO
    • Edgemont Capital Partners acted as exclusive financial advisor to Diplomat in its acquisition of BioRx
    • $350 million
    • Diplomat Pharmacy is the largest independent specialty pharmacy in the United States
  • TRANSACTION OVERVIEW
    acquired by
    December 2014
    • Siren Interactive
    • Broad Exclusive Sale
    • Chicago, IL
    • Wendy White, Founder & CEO
    • Edgemont Capital Partners acted as exclusive financial advisor to Siren Interactive in its sale to Dohmen
    • Confidential
    • Siren is the leading interactive communications company focused entirely on rare disease patients and their caregivers

    Edgemont Capital Serves as Exclusive Financial Advisor to Siren Interactive in Recently Announced Sale of Company to Dohmen Life Sciences Services

    NEW YORK and CHICAGO, (March 24, 2015) – Edgemont Capital Partners, LP, a leading independent investment banking firm providing healthcare merger and acquisition advisory services to healthcare companies, acted as exclusive financial advisor to Siren Interactive (“Siren”) in the recently announced sale of the company to Dohmen Life Science Services (“DLSS”), a subsidiary of the Dohmen Company, Edgemont said today. The transaction was originally announced on January 6.

    Siren is a leading rare disease interactive relationship marketing company with expertise in addressing the challenges and unmet needs of patients, caregivers, and physicians dealing with the over 7,000 rare diseases affecting over 300 million people worldwide. Edgemont Capital Partners acted as the exclusive financial advisor to Siren in the transaction, which closed on December 31, 2014. David Blume, Managing Director and head of the firm’s Pharmaceutical Services Group, and Luke Mitchell, Managing Director led Edgemont’s transaction team.

    “The needs of rare disease patients, their caregivers and physicians, are underserved. Despite greater awareness of the large number of rare diseases and those living with these conditions, access to information, including available therapies, care management, as well as patient and caregiver support through patient communities and effective ongoing communication remains a large unmet need. The development and introduction of pharmaceuticals to treat rare diseases is accelerating rapidly, increasing demand for services that optimally support access to and proper use of these therapies as part of the patient’s overall care,” said Blume.

    Siren Interactive serves rare disease pharmaceutical and biotech companies by connecting patients with their brands.  Siren is a pioneer in patient-driven decision making in commercialization of orphan drugs. Wendy White, president of Siren, founded the company as a result of her own personal struggle with a family member’s rare disease experience. Following the transaction, White joined DLSS as Senior Vice President of Dohmen’s Rare Disease segment.

    “We retained Edgemont to advise us based on their proven track record and expertise in pharmaceutical services and M&A execution. They demonstrated a commitment to our transaction and provided exceptional advice. As the founder and CEO of a premium services company I appreciate when a professional services organization goes the extra mile as Edgemont did for us,” White commented.

    About Dohmen Life Science Services

    Intelligent outsourcing for the life sciences.™

    Dohmen Life Science Services provides outsourced insight and infrastructure to entrepreneurs seeking speed, scale and certainty as they bring their biopharma or medical device products to market. Our industry experts help hundreds of companies preserve capital, mitigate risk and stay focused on the future by supplying the very best people, processes and tools within the areas of finance, technology, quality, regulatory compliance, supply chain, customer services and patient support. Dohmen Life Science Services is a subsidiary of the Dohmen Company. Privately held and headquartered in Milwaukee, Wisconsin, Dohmen has been finding ways to create a more efficient, effective and accessible healthcare supply system since 1858. More information can be found at DLSS.com and Dohmen.com.

    About Siren

    Siren Interactive is a rare disease marketing agency with unmatched expertise in addressing the challenges and unmet needs of patients, caregivers, and physicians dealing with the over 7,000 rare diseases affecting over 300 million people worldwide. For more than 15 years, across more than 30 different disease states, the Company has had a singular focus: Finding rare disease patients and connecting them to its clients’ brands. As trailblazers in recognizing that patient-driven decision making is central to successful orphan drug commercialization, Siren constantly innovates to meet patients and caregivers where they live. To learn more about Siren’s proprietary approaches to building trust relationships with rare disease stakeholders visit sireninteractive.com. Siren Interactive is a subsidiary of Dohmen Life Science Services. More information can be found at DLSS.com.

    About Edgemont Capital Partners

    Edgemont Capital Partners, LP (www.edgemontcapital.com), is an independent investment banking firm founded in 2001 providing merger and acquisition and financing advisory services to healthcare companies worldwide. The firm’s deep healthcare industry knowledge and extensive transaction expertise allows Edgemont to address healthcare companies’ strategic (M&A) and financing needs with great success. The firm’s principals have closed over 100 transactions, representing more than $30 billion in value.

    For more information on Edgemont Capital Partners’ expertise in pharmaceutical services or other healthcare sectors contact David Blume at +1 (212) 867-8937 and visit www.edgemontcapital.com.

    Investment banking services are provided by Edgemont Capital Partners, L.P., a registered broker-dealer and member of FINRA and SIPC.

    Siren Interactive

    “We retained Edgemont to advise us based on their proven track record and expertise in pharmaceutical services and M&A execution. They demonstrated a commitment to our transaction and provided exceptional advice. As the founder and CEO of a premium services company I appreciate when a professional services organization goes the extra mile as Edgemont did for us.”

    Wendy White
    President and Founder
    Siren Interactive 

  • TRANSACTION OVERVIEW
    acquired by
    October 2014
    • Premier Physician Services
    • Limited Exclusive Sale
    • Dayton, OH
    • Bill Cole, M.D., CEO / Partnership
    • Edgemont Capital Partners acted as exclusive financial advisor to Premier Physician Services in its sale to TeamHealth
    • Confidential
    • Premier is a leading outsourced emergency department (ED) staffing and services provider operating in 74 locations in seven states in the Midwest

    Edgemont’s Hospital Outsourced Clinical Services Case Studies

    Case Study: Premier Physicians Services

    Edgemont served as the exclusive financial advisor to Premier Physician Services (“Premier”) in its sale to TeamHealth

    • Premier had grown to over 700 clinicians with over 300 shareholders and while continuing to experience growth and profitability, was facing some near-term challenges
    • Premier’s size and strong reputation made it the subject of regular acquisition inquiries
    • Edgemont was retained by Premier in 2013 to advise the Board on a range of strategic and financial transaction options
      • Divestiture of billing division
      • Leveraged share repurchase
      • Merger
      • Sale of Premier
    • Edgemont prepared a valuation for Premier’s Board looking at potential valuations and transaction structures under a range of transaction alternatives
      • Edgemont utilized our understanding of the potential synergies available to an acquirer in a sale transaction based on our HOCS industry experience
    • Edgemont contacted parties to generate initial proposals for a merger, a sale, and a divestiture of the billing division
    • Premier’s senior leadership met with potential partners and reviewed proposals in detail with Edgemont from a strategic, valuation, structure, and tax perspective
    • Premier elected to pursue a sale to TeamHealth
      • Transaction closed in October 2014
      • Compelling valuation for shareholders with very strong support from Premier’s hospital clients

     

    Edgemont Capital Partners Completes Sale Of Premier Physician Services To TeamHealth

    Healthcare investment banking firm serves as exclusive financial advisor to Premier, one of the largest independent Emergency Medicine physician groups in the U.S.

    NEW YORK and DAYTON, October 22, 2014 — Edgemont Capital Partners, L.P., a leading independent investment banking firm providing M&A advisory services to healthcare companies, today announced that it has acted as exclusive financial advisor to Premier Physician Services, Inc. (“Premier”) in the sale of the company to TeamHealth Holdings Inc. (NYSE:TMH). Terms of the transaction were not disclosed.

    Premier was established in 1987 and provides emergency department, hospital medicine, correctional care and occupational medicine management and staffing for facilities in Ohio and six other states. The transaction closed on October 21, 2014, and was led by Jeff Swearingen,
    managing director and co-founder of Edgemont Capital Partners, L.P., and head of Edgemont’s Physician Services Group.

    Physician practice consolidation has accelerated in 2014 as the rollout of the Patient Protection and Affordable Care Act drives significant change and increased complexity in healthcare. This operating environment has led many Emergency Medicine and other hospitalbased specialty practices to sell or merge their practices into large organizations that offer greater management depth, access to capital, and IT expertise to support physician practices. We believe this trend will only continue to accelerate, said Mr. Swearingen.

    Edgemont’s role as Premier’s exclusive advisor marks the firm’s fifth successfully closed transaction on behalf of hospital-based physician groups and management companies. Edgemont previously represented Milford Anesthesia Associates in its sale to Envision Healthcare Holdings, Inc. (formerly known as EmCare) (NYSE: EVHC), South Oakland Anesthesia Associates in its sale to MEDNAX, Inc. (NYSE: MD), Practice Support Resources, LLC in its sale to Intermedix Corporation, and Wolverine Anesthesia Consultants in its sale to TeamHealth Holdings Inc. (NYSE: TMH).

    Independent, high quality physician practices of scale are seeking the highest level of quality and experience in the financial advisors they hire. Edgemont has had an unparalleled level of success advising physician practices, added Mr. Swearingen.

    Based in Dayton, Ohio, Premier’s more than 700 physicians and advanced practice clinicians provide emergency department, hospital medicine, correctional care and occupational medicine management and staffing for 42 emergency departments, seven hospital medicine programs, 11 occupational medicine programs and 14 correctional care programs. Premier provides care for more than one million patients annually.

    Right from the start, Jeff and the Edgemont team demonstrated a strong understanding of the Emergency Medicine business and a real commitment to providing great service and the right advice, said Dr. Bill Cole, Chief Executive Officer of Premier.

    Edgemont’s market insight and strong execution resulted in a great transaction for Premier’s shareholders, with a partner that will provide the tools and resources to better serve our hospital clients.

    About Edgemont Capital Partners, L.P.

    Edgemont Capital Partners, L.P. (www.edgemontcapital.com) is a specialty M&A advisory firm dedicated to providing the highest quality strategic advisory and capital raising services to healthcare companies. The firm’s deep healthcare industry knowledge, extensive relationship network and substantial transaction expertise allows Edgemont to address healthcare companies’ strategic and financing needs with great success. Edgemont Capital Partners, L.P. provides sell-side and acquisition advisory, restructuring advisory, board advisory and private placement services.

    For more information on Edgemont Capital Partners, L.P.’s efforts in Physician Services contact Jeff Swearingen at +1 (212) 867-8938.

    Investment banking services are provided by Edgemont Capital Partners, L.P., a registered broker-dealer and member of FINRA and SIPC.

    Premier Physician Services

    “Right from the start, Jeff and the Edgemont team demonstrated a strong understanding of the Emergency Medicine business and a real commitment to providing great service and the right advice. Edgemont’s market insight and strong execution resulted in a great transaction for Premier’s shareholders, with a partner that will provide the tools and resources to better serve our hospital clients.”

    Dr. Bill Cole
    CEO
    Premier Physician Services

  • TRANSACTION OVERVIEW
    recapitalized by
    April 2014
    • St. Louis Clinical Trials
    • Limited Exclusive Sale / Recapitalization
    • St. Louis, MO
    • Rick Mofsen, D.O., Founder & CEO
    • Edgemont Capital Partners acted as exclusive financial advisor to St. Louis Clinical Trials in its recapitalization and merger to form Evolution Research Group sponsored by DFW Capital
    • Confidential
    • SLCT is a leading clinical pharmacology and research services company focusing on psychiatric indications
  • TRANSACTION OVERVIEW
    recapitalized by
    April 2014
    • Thievon-Wright Consulting Group
    • Limited Exclusive Sale / Recapitalization
    • South Orange, NJ
    • Lori Thievon-Wright, Founder & CEO
    • Edgemont Capital Partners acted as exclusive financial advisor to Thievon-Wright in its recapitalization and merger to form Evolution Research Group sponsored by DFW Capital
    • Confidential
    • TWCG is a leading clinical research study network services provider

    Multi-Site Management Case Studies

    Case Study: Thievon-Wright Consulting

    Edgemont’s principals served as the exclusive financial advisors to Thievon-Wright Consulting ("TWC") in its recapitalization with DFW Capital Partners

    • TWC provided centralized marketing, business development, client management, and shared services for a large network of specialized clinical research sites
      • After years of driving dramatic topline growth at their client sites, the owners of TWC sought to create a proprietary network of sites under common ownership
      • Several of TWC’s client sites saw value in becoming part of a large entity, through a private equity recapitalization
    • We were retained by TWC in early 2013 to help the company identify a private equity partner to provide partial liquidity, while also acquiring several of TWC’s sites
    • Once retained, Edgemont brought in a leading accounting support team to help all selling entities prepare standardized and uniform financial accrual basis financial statements
      • The accounting firm relied heavily on Edgemont’s guidance for what would be expected from private equity partners
    • Edgemont quickly identified and engaged with a leading private equity firm that had relevant pharmaceutical services investment experience, and was willing to pursue the opportunity aggressively on highly favorable terms
      • The private equity firm had identified several key executives with pharmaceutical services experience that would work with TWC post-close
    • In April 2014, TWC closed a transaction with the private equity group on very favorable terms
  • TRANSACTION OVERVIEW
    recapitalized by
    April 2014
    • Woodland International Research
    • Limited Exclusive Sale / Recapitalization
    • Little Rock, AR
    • Carol Witham, Founder & CEO
    • Edgemont Capital Partners acted as exclusive financial advisor to Woodland in its recapitalization and merger to form Evolution Research Group sponsored by DFW Capital
    • Confidential
    • Woodland is a leading clinical pharmacology and research services company focused on psychiatric indications in two facilities in Arkansas
  • TRANSACTION OVERVIEW
    acquired by
    January 2014
    • Community Research
    • Broad Exclusive Sale
    • Cincinnati, OH
    • David Mayleben, M.D., Co-founder & CEO and Bruce Corser, M.D., Co-founder and CMO
    • Edgemont Capital Partners acted as exclusive financial advisor to Community Research in its sale to CTI Clinical Trials and Consulting
    • Confidential
    • Community Research is a leading clinical pharmacology and late Phase research site services company serving the greater Cincinnati area in four locations, including a 60-bed Phase I unit
  • TRANSACTION OVERVIEW
    acquired sample management business of
    January 2014
    • J. Knipper & Co.
    • Buy-side Advisory
    • Somerset, NJ
    • Jim Knipper, CEO
    • Edgemont Capital Partners acted as exclusive financial advisor to J. Knipper in its acquisition of MediMedia's pharmaceutical sample management business
    • Confidential
    • J. Knipper is the leading pharmaceutical sample management services provider worldwide

    Knipper Acquires Sample Management Business from MediMedia Health, Solidifying its Position as the US Industry Leader in Pharmaceutical Samples Management Services

    LAKEWOOD, N.J.–(BUSINESS WIRE)–J. Knipper and Company, Inc., the largest supplier of end-to-end samples management services to the U.S. pharmaceutical industry, announced today that the Company has acquired MediMedia Health’s sample management lines of business. These services include direct-to- provider (DTP) sample fulfillment, patient assistance programs and animal health services, as well as call center and regulatory compliance services that accompany these activities. Terms of the agreement were not disclosed.

    “We look forward to transforming the way the industry views ROI and samples management benchmarking. Through our integration of the new business, Knipper plans on harnessing the knowledge possessed in its data to provide smarter and more productive tools to its customer base, both retrospectively and proactively.”

    “Knipper’s acquisition of the MediMedia sample business will further our mission of being the nation’s leading samples management services provider,” said Jim Knipper, co-founder and CEO of J. Knipper and Company. “We are excited about the opportunity this creates, as adding these services from MediMedia Health enables our customers to leverage the broadest and most diverse library of best practice and sample management standards available in the industry today. By combining MediMedia’s innovative engagement models with Knipper’s leading sales operations, white space and compliance services, Knipper solidifies its position as the nation’s #1 provider of full circle, end-to-end sample-centric solutions.”

    The dramatic increase in need for DTP samples management and direct-to-consumer (DTC) patient services creates a unique opportunity for the supplier who possesses the most comprehensive set of data. Such data is a wellspring of knowledge that can be used for the purposes of benchmarking and creating a more efficient means of “hyper-targeting.” The combined operations of Knipper will now possess that powerful data set. Michael J. Laferrera, President and COO of Knipper, shared his longer-term strategic thoughts on the advantages of the combined data pool: “We look forward to transforming the way the industry views ROI and samples management benchmarking. Through our integration of the new business, Knipper plans on harnessing the knowledge possessed in its data to provide smarter and more productive tools to its customer base, both retrospectively and proactively.”

    J Knipper and Company’s customers—including many of the world’s largest and fastest-growing pharmaceutical and biotech organizations—will be able to extend their investments in DTP, DTC, and Patient Assistance programs with access to the industry’s most comprehensive pool of sampling solutions. MediMedia’s strong customer base—including many of the nation’s largest pharmaceutical brands—will have access to new world-class sales operations and services, and will be able to leverage Knipper’s leading fulfillment and compliance solutions to transform their end-to-end samples management experience.

    Jeff Swearingen of Edgemont Capital Partners, a leading healthcare investment banking firm, acted as exclusive advisor to J. Knipper and Company. Petsky Prunier LLC acted as advisor to MediMedia USA.

    About J. Knipper and Company, Inc.

    Founded in 1986, J. Knipper and Company, Inc., provides the healthcare industry with solutions in direct marketing, sampling, compliance, information technology and sales force productivity. Going beyond its roots in direct marketing fulfillment and sample distribution, J. Knipper and Company continues to offer innovative solutions to brand marketing and sales force challenges as well as robust and comprehensive compliance data services.

    The Company has invested considerably in its physical and data infrastructure over the years. Knipper now maintains nearly 600,000 square feet of facilities, including significant storage capacity for refrigerated product and controlled substances, along with an advanced Data Center protected for the secure and safe management of client data and application services. J. Knipper and Company is one of a handful of companies approved as an American Medical Association Database licensee. For more information, visit www.knipper.com.

    Contacts

    J. Knipper and Company, Inc.
    Steve Gransden, 732-987-7168
    steve.gransden@knipper.com

  • TRANSACTION OVERVIEW
    acquired by
    November 2013
    • Wolverine Anesthesia Consultants
    • Limited Exclusive Sale
    • Orlando, FL
    • Ed Stockton, M.D., Co-founder & CEO / Partnership
    • Edgemont Capital Partners acted as exclusive financial advisor to Wolverine Anesthesia Consultants in its sale to TeamHealth
    • Confidential
    • Wolverine is a leading anesthesiology services provider serving four locations in Central Florida

    Edgemont’s Hospital Outsourced Clinical Services Case Studies

    Case Study: Wolverine Anesthesia Consultants

    Edgemont served as the exclusive financial advisor to Wolverine Anesthesia Consultants ("Wolverine") in its sale to TeamHealth

    • Edgemont was retained by Wolverine in March 2013 to advise the three founding physicians/owners on their strategic options
    • The owners were seeking a strategic partner to best position Wolverine in the changing healthcare environment
    • Edgemont reviewed Wolverine’s financials and prepared an analysis of the likely synergies and pro-forma income a strategic acquirer would realize after acquiring Wolverine
    • Edgemont recommended an auction process to include a handful of select strategic acquirers
    • Wolverine completed a transaction with TeamHealth in early November 2013
      • Edgemont ran a very competitive sale process with Wolverine receiving multiple, attractive final offers
      • Final valuation exceeded initial valuations and client expectations

    Edgemont Completes Sale of Wolverine Anesthesia Consultants to TeamHealth

    Edgemont Capital Partners Serves as Exclusive Financial Advisor to Wolverine in Transaction

    NEW YORK & ORLANDO, Fla.–(BUSINESS WIRE)–Edgemont Capital Partners, L.P., a boutique healthcare investment bank focused on the advisory needs of healthcare companies worldwide, today announced the sale of Wolverine Anesthesia Consultants, Inc. (“Wolverine”), to TeamHealth Holdings Inc. Edgemont Capital Partners, L.P. acted as the exclusive financial advisor to Wolverine. Terms of the transaction were not disclosed.

    “Edgemont provided great advice at every step of the process and was totally committed throughout the engagement. Edgemont’s work resulted in a great partnership between Wolverine Anesthesia Consultants and TeamHealth.”

    Wolverine provides anesthesia care and pain management services at three hospitals and one ambulatory surgery center that together serve as the keystone of Orlando Health. The transaction closed on November 8, 2013, and was led by Jeff Swearingen, the head of Edgemont’s Physician Services Group and Luke Mitchell, a principal at the firm. Brent Hill and Amanda Jester of Waller Lansden Dortch & Davis, LLP acted as legal counsel to Wolverine in the transaction.

    “The Patient Protection and Affordable Care Act is driving significant change and increased complexity in healthcare. This increasingly complex and challenging operating environment has led many of the hospital-based specialty practices to sell or merge their practices into large organizations with the management depth, access to capital, and IT expertise to support physician practices in the current environment. We believe this trend will only accelerate into 2014,” said Swearingen, managing director and co-founder of Edgemont Capital Partners, L.P.

    Edgemont’s role as Wolverine’s exclusive advisor marks the firm’s third successfully closed transaction on behalf of anesthesia groups. Edgemont previously represented Milford Anesthesia Associates in its sale to Envision Healthcare Holdings, Inc. (formerly known as EmCare) and South Oakland Anesthesia Associates in its sale to MEDNAX, Inc.

    “Independent, high quality anesthesia practices are seeking the same high level of quality and experience in the financial advisors they hire. Edgemont has had an unparalleled level of success serving our anesthesia practice clients,” added Swearingen.

    Based in Orlando, Fla., Wolverine’s more than 60 physicians and certified registered nurse anesthetists (CRNAs) provide care for more than 33,000 patients annually through anesthesia management services for three hospitals and one ambulatory surgery center: Orlando Regional Medical Center, Dr. P. Phillips Hospital, MD Anderson Cancer Center and Orlando Regional Ambulatory Care Center. These facilities are all part of Orlando Health, a private, not-for-profit healthcare network.

    “Edgemont is clearly the best firm to work with for independent anesthesia groups that are seeking an advisor to explore their strategic options. We found their level of transaction expertise and knowledge of anesthesia and hospital-based physician services to be a perfect match for our advisory needs,” said Ed Stockton, one of Wolverine’s founding partners. “Edgemont provided great advice at every step of the process and was totally committed throughout the engagement. Edgemont’s work resulted in a great partnership between Wolverine Anesthesia Consultants and TeamHealth.”

    Edgemont Capital Partners, L.P. (www.edgemontcapital.com), is a specialty investment bank focused on the advisory needs of healthcare companies worldwide. The firm’s deep healthcare industry knowledge, extensive relationship network and substantial transaction expertise allows Edgemont to address healthcare companies’ strategic advisory (M&A) and financing needs with great success. Edgemont Capital Partners, L.P. provides sell-side and acquisition advisory, restructuring advisory, board advisory and private placements services.

    For more information on Edgemont Capital Partners, L.P.’s efforts in Physician Services contact Jeff Swearingen at +1 (212) 867-8935.

    Investment banking services are provided by Edgemont Capital Partners, L.P., a registered broker-dealer and member of FINRA and SIPC.

    Contacts

    MacMillan Communications
    Mike MacMillan, 212-473-4442
    mike@macmillancom.com

    Wolverine Anesthesia Consultants

    "Edgemont is clearly the best firm to work with for independent anesthesia groups that are seeking an advisor to explore their strategic options. We found their level of transaction expertise and knowledge of anesthesia and hospital-based physician services to be a perfect match for our advisory needs. Edgemont provided great advice at every step of the process and was totally committed throughout the engagement. Edgemont's work resulted in a great partnership between Wolverine Anesthesia Consultants and TeamHealth."

    Ed Stockton
    Co-founder & CEO
    Wolverine Anesthesia Consultants

  • TRANSACTION OVERVIEW
    acquired by
    May 2013
    • Vince and Associates Clinical Research
    • Limited Exclusive Sale
    • Overland Park, KS
    • Brad Vince, D.O., Founder & President
    • Edgemont Capital Partners acted as exclusive financial advisor to Vince & Associates Clinical Research in its sale to Altasciences
    • Confidential
    • Vince and Associates is the leading clinical pharmacology services provider focused on conducting early development studies in patient populations

    Edgemont Capital Completes Sale Of Vince & Associates Clinical Research

    Edgemont enhances its position as the leading M&A advisor to clinical research site companies

    Transaction highlights growing demand from large pharma, biotech companies for early development clinical trials in patient populations

    NEW YORK, May 15, 2013 /PRNewswire/ — Edgemont Capital Partners (“Edgemont”), a specialty investment bank focused on the merger and acquisition advisory needs of healthcare companies, has acted as exclusive financial advisor to Vince and Associates Clinical Research (“Vince and Associates”) in its sale to Altasciences Group.  Vince and Associates manages complex early development clinical drug trials at its state-of-the-art research facility in Overland Park, Kansas.  The transaction highlights growing demand from large pharmaceutical and biotechnology companies for conducting early development studies in patient populations. Terms of the deal were not announced.

    This is the ninth transaction completed by Edgemont on behalf of clinical research site services companies and one of the largest to date, further establishing Edgemont as the leading healthcare M&A advisor to clinical research site companies. Prior transactions completed by Edgemont include the sale of Miami Research Associates, Inc. to QPS, LLC, the sale of California Clinical Trials, Inc. to Parexel Inc., and the sale of Lifetree Clinical Research, LLC to CRI Worldwide, LLC, among others.

    Vince and Associates is a leader in the successful recruitment and retention of special patient populations in complex early development clinical drug trials.  The company’s approach utilizes study teams led by highly experienced principal investors who are intimately involved in all aspects of the clinical trial process.  The transaction with Altasciences is a further reflection of the significant industry demand for specialized outsourcing services on the part of large pharmaceutical and biotechnology companies.

    We are seeing strong acquisition interest in sophisticated site services companies like Vince and Associates that have unique and established access to highly desirable patient populations and a proven track record of research excellence,” said David K. Blume, co-founder and Managing Director at Edgemont.  “Access to these populations is critical to the drug development success of pharmaceutical and biotechnology companies, and represents tremendous value.”

    Altasciences is owned by Kilmer Capital Partners, which also owns AlgorithmePharma, a Montreal based full service early stage clinical CRO. Both Vince and Associates Clinical Research and AlgorithmePharma operate with a common mission to provide the highest quality early stage clinical development services to an international customer base of pharmaceutical, biotechnology and generic companies with a focus on customer service.

    About Edgemont Capital Partners

    Edgemont Capital Partners, L.P. (www.edgemontcapital.com) is a specialty investment bank focused on the advisory needs of healthcare companies worldwide. The firm’s deep healthcare industry knowledge, extensive relationship network and substantial transaction expertise allows Edgemont to address healthcare companies’ strategic advisory (M&A) and financing needs with great success. Edgemont Capital Partners, L.P. provides mergers and acquisition advisory, restructuring advisory, board advisory, valuation and private placements services. Investment banking services are provided by Edgemont Capital Partners, L.P., a registered broker-dealer and member of FINRA and SIPC.

    About Vince & Associates Clinical Research

    Vince & Associates Clinical Research has provided clinical research services to the biopharmaceutical industry for more than a decade. Proud to be recognized in the industry as a “Center of Research Excellence”, Vince & Associates has become a premier clinical research site by utilizing The Physician Research Model(R) of operation where study teams are led by highly experienced principal investigators intimately involved in all aspects of the clinical trial process.

    Vince & Associates recently opened a state-of-the-art, multimillion-dollar, 90-bed clinical pharmacology unit that combines the ultimate in subject safety and luxury. This new unit has the upscale atmosphere necessary for the recruitment and retention of study volunteers in both short- and long-term clinical trials, from the safety and security of the controlled access unit to the added features of a movie theater and game rooms.

    CONTACT: Chris Sullivan,  MacMillan Communications, 212.473.4442, chris@macmillancom.com

     

  • TRANSACTION OVERVIEW
    acquired sample management business of
    April 2013
    • J. Knipper & Co.
    • Buy-side Advisory
    • Somerset, NJ
    • Jim Knipper, CEO
    • Edgemont Capital Partners acted as exclusive financial advisor to J. Knipper in its acquisition of inVentiv Health's pharmaceutical sample management business
    • Confidential
    • J. Knipper is the leading pharmaceutical sample management services provider worldwide
  • TRANSACTION OVERVIEW
    acquired by
    December 2012
    • Miami Research Associates
    • Broad Exclusive Sale
    • South Miami, FL
    • Howard Schwartz, M.D., Co-founder & President and Eric Sheldon, M.D., Co-founder & CMO
    • Edgemont Capital Partners acted as exclusive financial advisor to MRA in its sale to QPS
    • Confidential
    • MRA is a leading multi-specialty clinical pharmacology and research site services company with a 60 bed Phase I unit

    Edgemont Capital Completes Sale of Miami Research Associates to QPS

    Edgemont Capital serves as exclusive advisor to Miami Research Associates in transaction

    NEW YORK and MIAMI, Feb. 26, 2013 /PRNewswire/ — Edgemont Capital Partners, L.P., a boutique investment bank focused on the merger and acquisition advisory needs of healthcare companies, announces the sale of Miami Research Associates (“MRA”), to QPS, LLC.  MRA, a multi-therapeutic provider of clinical research services for drug development focused on conducting clinical studies in patient populations, operates one of the largest clinical research centers in the United States.  Edgemont Capital Partners, L.P. acted as the exclusive financial advisor to MRA. The transaction closed on December 31, 2012, and was led by David Blume, Managing Director and head of the firm’s Pharmaceutical Services Group, Luke Mitchell, a principal at the firm, and Wilmer Ho, an analyst at the firm.

    “Rapidly evolving trends are transforming drug development protocols such that early stage clinical studies are increasingly being conducted in patient populations instead of healthy volunteers.  This is driving outsourced pharmaceutical services providers to expand their capabilities by adding these highly specialized services in order to address the needs of their biotech and pharmaceutical sponsor clients.  We believe that this trend will continue to accelerate through 2013,” said David Blume, co-founder and managing director of Edgemont Capital Partners, L.P.

    Founded in 1996, MRA conducts early stage and phase II-IV clinical research studies for global and mid-sized pharmaceutical and biotech sponsors, as well as leading Contract Research Organizations (CROs), in its state-of-the-art research facility and clinical pharmacology unit in South Miami, Florida, and satellite office in Broward County, Florida. MRA’s 32 board certified physician investigators and 38 ACRP certified clinical research coordinators conduct phase I-IV clinical studies across a broad range of therapeutic areas.  Dr. Howard Schwartz, MRA’s co-founder and Senior Medical Director, will continue in his current role following the transaction and will become a member of QPS’ board of directors.

    “We are looking forward to partnering with a leading international provider of preclinical and clinical research services to expand the capabilities both companies offer to their clients, which now enables us to provide a comprehensive and fully integrated one-stop shopping suite of services for early stage clinical trials,” said Dr. Schwartz, M.D., “We believe QPS’ global pharmaceutical services offerings combined with MRA’s leading position in conducting clinical research studies in patient populations will allow us to provide  a superior level of service to the existing clients of both companies, as well as new customers.”

    “We chose to work with Edgemont after interviewing several firms.  We found their level of transaction expertise and knowledge of pharmaceutical research services to be a perfect match for our advisory needs.  We really appreciate the level of commitment the Edgemont team showed to our engagement and Edgemont’s work resulted in a great transaction for Miami Research Associates,” commented Eric Sheldon, MD, a co-founder and Medical Director of MRA.

    QPS provides GLP/GCP-compliant preclinical and clinical research services to pharmaceutical and biotechnology clients worldwide in the areas of Drug Metabolism and Pharmacokinetics, Toxicology, Bioanalysis, Translational Medicine, and Early Stage and Phase II-IV Clinical Research. Founded by Dr. Ben Chien in 1995, QPS has Preclinical Testing and Bioanalysis facilities at its Newark, DE headquarters; and facilities in Groningen, the Netherlands; Taipei, Taiwan; and Hyderabad, India. Early-phase clinical facilities are located in Springfield, MO; Taipei, Taiwan; Groningen, the Netherlands; and Hyderabad, India. Business development offices are maintained throughout the US, Europe, and Asia.

    Edgemont Capital Partners, L.P. (www.edgemontcapital.com), is a specialty investment bank founded in 2001 to focus on the advisory needs of healthcare companies worldwide. The firm’s deep healthcare industry knowledge and extensive transaction expertise allows Edgemont to address healthcare companies’ strategic advisory (M&A) and financing needs with great success. Edgemont Capital Partners, L.P. provides sell-side and acquisition advisory, restructuring advisory, board advisory and private placements services.

    Investment banking services are provided by Edgemont Capital Partners, L.P., a registered broker-dealer and member of FINRA and SIPC.

    SOURCE Edgemont Capital Partners, L.P.

    Miami Research Associates

    “We chose to work with Edgemont after interviewing several firms.  We found their level of transaction expertise and knowledge of pharmaceutical research services to be a perfect match for our advisory needs.  We really appreciate the level of commitment the Edgemont team showed to our engagement and Edgemont’s work resulted in a great transaction for Miami Research Associates.”

    Dr. Eric Sheldon
    Co-founder & CMO
    Miami Research Associates

  • TRANSACTION OVERVIEW
    acquired by
    December 2012
    • Practice Support Resources
    • Broad Exclusive Sale
    • Dallas, TX
    • David Singley, Jr., CEO / Four Shareholders
    • Edgemont Capital Partners acted as exclusive financial advisor to PSR in its sale to Intermedix
    • Confidential
    • PSR is a leading physician practice management services provider to emergency department (ED) services providers across the U.S.

    Multi-Site Management Case Studies

    Case Study: Practice Support Resources

    Edgemont’s principals served as the exclusive financial advisors to Practice Support Resources ("PSR") in its sale to Intermedix

    • PSR continues to be the leading full-service management services company for emergency medicine physician practices
      • Responsible for all administrative, finance and accounting, back office, billing and collection management services for 56 practices
      • Heavy investment in IT and support systems allowed physician clients to focus on the delivery of care
    • We were retained by PSR in mid-2012 to advise the company on a rapid sale to take advantage of PSR’s strong financial performance, attractive M&A market valuations and the tax rates in effect until the end of 2012
      • We provided the owners with an initial valuation range likely available from strategic acquirers and financial sponsors
    • We quickly assembled marketing materials and contacted both strategic acquirers and financial sponsors
    • Given the strong interest and the principals’ desire for certainty of a 2012 closing, Edgemont recommended that PSR bring a large number of bidders into the second round
      • Intent was to maintain a competitive process throughout the process
      • Edgemont received over a dozen initial bids from strategic and financial bidders in late summer
      • In Fall 2012, Edgemont received a pre-emptive offer from a strategic partner with the ability to close by year end
    • In December of 2012, PSR closed a transaction with Intermedix on very favorable terms
      • Edgemont’s initial valuation guidance proved highly accurate

    Practice Support Resources (PSR) is Acquired by Intermedix

    Edgemont Capital Partners, L.P. today announced the sale of Practice Support Resources, LLC (“PSR”), to Intermedix Corporation. PSR is one of the largest Emergency Medicine Practice Management companies in the U.S., with a growing presence in other medical specialties including Hospitalists and Primary Care physicians.Edgemont Capital Partners, L.P., a boutique investment bank focused on the advisory needs of healthcare companies worldwide, today announced the sale of Practice Support Resources, LLC (“PSR”), to Intermedix Corporation. Edgemont Capital Partners, L.P. acted as the exclusive financial advisor to PSR. PSR is one of the largest Emergency Medicine Practice Management companies in the U.S., with a growing presence in other medical specialties including Hospitalists and Primary Care physicians, across the United States.PSR will become part of Intermedix’s physician services division and David Singley, CEO of PSR, will oversee physician services at Intermedix including practice management and revenue cycle management for all physician specialties. The transaction closed in December, 2012, and was led by Jeff Swearingen, the head of the firm’s Physician Services Group and Luke Mitchell, a principal at the firm. Tom Hughes and Kristy Waterman of Fulbright and Jaworski, LLP acted as legal counsel to PSR in the transaction.

    PSR was established in 1985 and is a professional physician practice management organization with a superior, information technology-driven service delivery model that meaningfully and measurably improves the operational and financial performance of PSR’s physician client practices. PSR initially built its practice management platform in Emergency Medicine and has leveraged its experience and information technology to grow beyond managing Emergency Medicine practices into Hospitalist, Primary Care, and other physician specialty markets.

    “Edgemont’s market insight and strong transaction execution delivered an outstanding outcome for the PSR’s shareholders as well as a tremendous strategic fit for Intermedix. Their healthcare industry focus, knowledge of the Emergency Medicine and hospital-based physician services sectors allowed the Edgemont team to hit the ground running” commented David Singley, Chief Executive Officer of PSR.

    Intermedix focuses on the highly fragmented US healthcare and emergency response systems by delivering information technology and business services to manage the revenue cycle, promote preparedness and interoperability, and support incident response management, documentation, and reporting. Intermedix provides practice management and revenue cycle management services for emergency physicians and hospital emergency departments, emergency medical services (ambulance) agencies, anesthesiologists, primary care physicians, urgent care centers, and fire departments throughout the US. The company also provides technology solutions for federal, state and local government agencies, healthcare providers, and corporations using the brand names WebEOC®, EMResourceT, EMTrackT, CORES, TripTix®, and FleeteyesT.

    Edgemont Capital Partners Served as Exclusive Financial Advisor to PSR in this Transaction.

    Edgemont Capital Partners, L.P. (www.edgemontcapital.com), is a boutique investment bank focused on the advisory needs of healthcare companies worldwide. The firm’s deep healthcare industry knowledge, extensive relationship network and substantial transaction expertise allows Edgemont to address healthcare companies’ strategic advisory (M&A) and financing needs with great success. Edgemont Capital Partners, L.P. provides sell-side and acquisition advisory, restructuring advisory, board advisory and private placements services. For more information on Edgemont Capital Partners, L.P.’s efforts in Physician Services contact Jeff Swearingen at +1 (212) 867-8935. Investment banking services are provided by Edgemont Capital Partners, L.P., a registered broker-dealer and member of FINRA and SIPC.

    CONTACT:

    At Edgemont Capital Partners

    Jeff B. Swearingen, Managing Director
    Phone: 212-867-8938

    Luke J. Mitchell, Principal

    Practice Support Resources

    “Edgemont’s market insight and strong transaction execution delivered an outstanding outcome for the PSR’s shareholders as well as a tremendous strategic fit for Intermedix. Their healthcare industry focus, knowledge of the Emergency Medicine and hospital-based physician services sectors allowed the Edgemont team to hit the ground running.”

    David Singley
    CEO
    Practice Support Resources, LLC

  • TRANSACTION OVERVIEW
    acquired by
    December 2012
    • South Oakland Anesthesia Associates
    • Limited Exclusive Sale
    • Troy, MI
    • Paul O'Leary, M.D., Transaction Committee Head / Partnership
    • Edgemont Capital Partners acted as exclusive financial advisor to South Oakland Anesthesia Associates in its sale to MEDNAX
    • Confidential
    • SOAA is the anesthesiology services provider to the Beaumont Health System

    Edgemont’s Hospital Outsourced Clinical Services Case Studies

    Case Study: South Oakland Anesthesia Associates

    Edgemont served as the exclusive financial advisor to South Oakland Anesthesia Associates ("SOAA") in its sale to MEDNAX

    • Edgemont was retained by SOAA in early 2012 to advise the partnership on its strategic options after SOAA received an initial offer from a strategic acquirer
    • Edgemont’s preliminary valuation work confirmed SOAA’s belief that the initial offer significantly undervalued SOAA
    • Edgemont performed a full analysis of SOAA’s strategic and financial options
      • Our analysis concluded an auction process among multiple strategic acquirers was the best alternative
    • Edgemont worked with SOAA to interview and retain transaction legal and accounting firms
      • SOAA used cash-basis financial statements for accounting and tax purposes
    • Edgemont received initial bids in mid-2012
      • Four attractive and competitive initial offers from strategic acquirers
    • Edgemont took second round bidders through a full diligence process and requested final bids in the form of a marked-up purchase contract
      • Competitive final bidding concluded with a sale to MEDNAX on very attractive terms
      • Final purchase price was significantly higher than the offer received prior to Edgemont’s engagement

    South Oakland Anesthesia Associates is Acquired by American Anesthesiology division of MEDNAX

    Edgemont Capital Partners, L.P., a boutique investment bank focused on the advisory needs of healthcare companies worldwide, today announced the sale of South Oakland Anesthesia Associates, P.C. (“SOAA”), to MEDNAX, Inc. (NYSE: MD). Edgemont Capital Partners, L.P. acted as the exclusive financial advisor to SOAA. SOAA provides anesthesia care and pain management services at three hospitals, four ambulatory surgery centers, one eye center, and four pain management centers throughout Oakland, Wayne and Macomb counties in Michigan. The practice will become part of MEDNAX’s American Anesthesiology division. The transaction closed on December 21, 2012, and was led by Jeff Swearingen, the head of the firm’s Physician Services Group and Luke Mitchell, a principal at the firm. Brent Hill of Waller Lansden Dortch & Davis, LLP acted as legal counsel to SOAA in the transaction.

    “The rapidly evolving healthcare reimbursement landscape is driving physician organizations to partner with larger, well-capitalized companies to meet the new requirements coming under The Patient Protection and Affordable Care Act. We believe this trend will continue to accelerate through 2013,” said Jeff Swearingen, managing director and co-founder of Edgemont Capital Partners, L.P.

    South Oakland Anesthesia Associates was established in 1967 and is a private group practice that employs 73 anesthesiologists providing services across a wide spectrum of subspecialty areas, including orthopaedic, neurosurgical, pediatric, obstetric, cardiac, trauma, and critical care as well as acute and chronic pain medicine. The physicians practice in the anesthesia care-team model, which includes both residents and anesthetists. South Oakland physicians serve as the faculty for the Beaumont Health System residency program in anesthesiology.

    “We chose to work with Edgemont after interviewing several firms. We found their level of transaction expertise and knowledge of anesthesia and hospital-based physician services to be a perfect match for our advisory needs. We really appreciate the level of commitment the Edgemont team showed to our engagement and Edgemont’s work resulted in a great transaction for South Oakland Anesthesia Associates” commented Paul O’Leary, head of SOAA’s Business Development Committee.

    Edgemont Capital Partners Served as Exclusive Financial Advisor to SOAA in this Transaction.

    Edgemont Capital Partners, L.P. (www.edgemontcapital.com), is a boutique investment bank focused on the advisory needs of healthcare companies worldwide. The firm’s deep healthcare industry knowledge, extensive relationship network and substantial transaction expertise allows Edgemont to address healthcare companies’ strategic advisory (M&A) and financing needs with great success. Edgemont Capital Partners, L.P. provides sell-side and acquisition advisory, restructuring advisory, board advisory and private placements services. For more information on Edgemont Capital Partners, L.P.’s efforts in Physician Services contact Jeff Swearingen at +1 (212) 867-8935. Investment banking services are provided by Edgemont Capital Partners, L.P., a registered broker-dealer and member of FINRA and SIPC.

    CONTACT:

    At Edgemont Capital Partners

    Jeff B. Swearingen, Managing Director
    Phone: 212-867-8938

    Luke J. Mitchell, Principal
    Phone: 212-867-5181

    South Oakland Anesthesia Associates

    “We chose to work with Edgemont after interviewing several firms. We found their level of transaction expertise and knowledge of anesthesia and hospital-based physician services to be a perfect match for our advisory needs. We really appreciate the level of commitment the Edgemont team showed to our engagement and Edgemont’s work resulted in a great transaction for South Oakland Anesthesia Associates.”

    Paul O’Leary
    Transaction Committee Head
    SOAA Special Committee

  • TRANSACTION OVERVIEW
    valuation services
    June 2012
    • Parish Management Consultants
    • Financial Valuation and Strategic Advisory / Partnership
    • New Orleans, LA
    • T. Steven Martin, CEO
    • Edgemont Capital Partners provided strategic and financial advisory services to Parish Management Consultants
    • Confidential
    • Parish is a leading anesthesiology services provider serving over 20 locations in the New Orleans area

    Edgemont’s Hospital Outsourced Clinical Services Case Studies

    Case Study: Parish Management Consultants

    Edgemont served as financial advisor to Parish Management Consultants (“PMC”) in a review of strategic alternatives

    • Edgemont was retained by PMC in 2011 to advise the partnership on its strategic options and to provide an analysis and valuation of the business
      • PMC had been approached by several strategic acquirers and wanted to understand its options and potential value in a transaction
    • Edgemont worked with PMC to analyze PMC’s financials, market position, and competitive dynamics in detail
      • Utilizing our knowledge from previous anesthesia transactions, Edgemont prepared a pro forma income statement reflecting the synergies and benefits a strategic acquirer would likely recognize
    • Edgemont made a formal presentation to PMC’s Board in 2012
      • Valuation
      • Strengths, Weaknesses, Opportunities, and Threats analysis
    • Edgemont maintains a long-term advisory role with PMC
  • TRANSACTION OVERVIEW
    long-term services agreement with
    March 2012
    • RegenceRx
    • Broad Exclusive Sale
    • Portland, OR
    • Rob Coppedge, President DHS
    • Edgemont Capital Partners acted as co-strategic and financial advisor to RegenceRx in its long-term service agreement with Catalyst Health Solutions
    • Confidential
    • RegenceRx is the captive PBM of Cambia Health Solutions
  • TRANSACTION OVERVIEW
    recapitalized by an investor group led by the majority shareholder
    January 2012
    • PSKW & Associates
    • Recapitalization
    • Bedminster, NJ
    • Robert Previdi, Jr., Co-founder & President / Four Partners
    • Edgemont Capital Partners acted as exclusive financial advisor to PSKW & Associates in its recapitalization by its lead shareholder
    • Confidential
    • PSKW is the leading provider of pharmaceutical co-pay assistance programs

    PSKW & Associates Acquires Triax Media Group

    PSKW & Associates LLC of Edison, New Jersey, which owns the Loyalty Rx Co-pay Card, has purchased Triax Media LLC of Irvine, California. At the same time, PSKW has licensed the purchase to its subsidiary, Centricity Group LLC of Mendham, New Jersey.

    Centricity owns unique technology-based solutions to help its pharmaceutical clients manage physician and patient communications. The purchase of Triax Media complements those services by adding Triax’s own proprietary technology in the areas of relationship marketing, personal and non-personal promotion, conventions and medical education.

    “The acquisition also allows Centricity to develop new products, including those linked with our parent company’s Loyalty Rx Co-pay Card, which effectively enhances patient acquisition, retention and compliance,” noted Larry O. Buzbee, Centricity’s COO. “With an office in Irvine, we now have a presence in the important West Coast market, in addition to our existing three offices strategically located to service our clients: two in New Jersey, and one in the Philadelphia area.

    Chuck Morton and Paul Mastracchio, co-founders of Triax Media, will remain with Centricity in senior business development roles. “The company will also use the current office space Triax has in Louisville, Kentucky,” Morton pointed out, “The alignment of PSKW and Triax technology will offer Centricity a one-of-a-kind technology platform built on years of proven market solutions.”

    “We are extremely excited to share combined communication tools that will have a positive impact on our clients and their target audience,” added Mastracchio.

    Edgemont Capital Partners, a leading healthcare investment banking firm, acted as exclusive financial advisor to PSKW & Associates.

    CONTACT:

    At Edgemont Capital Partners

    David K. Blume, Managing Director
    Phone: 212-867-8935 Fax: 212-214-0911

  • TRANSACTION OVERVIEW
    strategic investment from an undisclosed hospital system
    December 2011
    • ACORN Research
    • Financing
    • Memphis, TN
    • Lee Schwartzberg, M.D., Co-founder & CMO
    • Edgemont Capital Partners acted as exclusive financial advisor to ACORN Research in its minority investment transaction from Baptist Health
    • Confidential
    • ACORN (now known as Vector Oncology) is a leading oncology clinical research site service and patient reported outcomes provider
  • TRANSACTION OVERVIEW
    acquired
    October 2011
    • Hampton-Laine Pharmaceuticals
    • Buy-side Advisory
    • Cincinnati, OH
    • E. Thomas Arington, Founder & CEO
    • Edgemont Capital Partners acted as exclusive financial advisor to Hampton-Laine Pharmaceuticals in its acquisition of Aprecia Pharmaceuticals
    • Confidential
    • Hampton-Laine (now renamed Aprecia Pharmaceuticals) is a specialty pharmaceutical company with a patented 3-D printing manufacturing process for large dose fast release
  • TRANSACTION OVERVIEW
    sold certain pharmaceutical product rights to
    July 2011
    • Prasco
    • Broad Exclusive Sale
    • Cincinnati, OH
    • E. Thomas Arington, Founder & CEO
    • Edgemont Capital Partners acted as exclusive financial advisor to Prasco in its divesture of a product portfolio to Novast Pharmaceuticals
    • Confidential
    • Prasco is the leading authorized generics company
  • TRANSACTION OVERVIEW
    acquired
    December 2010
    • J. Knipper & Co.
    • Buy-side Advisory
    • Somerset, NJ
    • Jim Knipper, CEO
    • Edgemont Capital Partners acted as exclusive financial advisor to J. Knipper in its acquisition of Publicis' Pharmagistics subsidiary
    • Confidential
    • J. Knipper is the leading pharmaceutical sample management services provider worldwide

    J. Knipper and Company Acquires Competitor Pharmagistics from Publicis Touchpoint Solutions

    J. Knipper and Company, Inc., developing and delivering smart, effective and efficient commercial solutions to the healthcare community, announced today that it has acquired competitor Pharmagistics from Publicis Touchpoint Solutions. The acquisition creates one of the largest healthcare marketing distribution firms in the United States, servicing more than 100 clients and 200 brands. Details of the agreement were not disclosed.

    Jim Knipper, President and CEO of J. Knipper and Company, Inc., stated that “healthcare marketing includes a growing range of direct marketing fulfillment services including pharmaceutical product sampling as well as sample accountability. Pharmagistics brings a solid set of capabilities and a track record of accomplishments, as well as an experienced and highly committed employee base. Pharmagistics’ centralized marketing fulfillment services and sample accountability have become ever more critical in this industry for the purposes of providing our clients with the ability to track aggregate spending and generate actionable reporting data. Overall, we believe the acquisition positions us well within the direction that healthcare marketing and pharmaceutical sampling is moving.”

    Mr. Knipper continued, “In addition to our comprehensive breadth of services, J. Knipper offers best-in-class facilities and warehouse systems, a leading sample accountability group, in-house data management expertise and one of the industry’s top management teams. We believe our integration plan, combining strengths in sample accountability and the companies’ extensive distribution channels to sales representatives and to physicians, will have a compelling and sustained impact on our industry.”

    Michael J. Laferrera, Senior Vice President of Sales and Marketing at J. Knipper and Company, Inc., commented, “The acquisition of Pharmagistics will give us expanded scope and bandwidth to compete in all major areas of healthcare marketing distribution and pharmaceutical sampling. This news follows our recent announcement last month of a strategic alliance with SDI Health whereby Knipper assumed all of their direct mail and fulfillment division. As we enter our 25th year in business, we are pleased with the recent successes in our drive to expand and increase our visibility within the industry.”

    Situated in Somerset, N.J., Pharmagistics’ 80,000 square foot facility is in a key location close to transportation hubs. Following the consummation of the acquisition, J. Knipper and Company will continue to operate out of this facility, bringing Knipper’s total foot-print in New Jersey to 350,000 square feet.

    About J. Knipper and Company, Inc.

    Founded in 1986, J. Knipper and Company, Inc., provides healthcare marketing solutions in direct marketing, sampling, compliance, information technology, and salesforce productivity. Going beyond its roots in direct marketing fulfillment and sample distribution, J. Knipper and Company continues to offer innovative solutions to salesforce challenges, including MyPharmaRep.com® (online solution for vacant-territory coverage) and MySampleCloset.com® (online sample ordering). The Company has invested considerably in its physical and data infrastructure over the years. Prior to the acquisition of Pharmagistics, J. Knipper and Company had 270,000 square feet of space, with 12,000 of that for refrigerated and 7,500 for controlled substances, along with an advanced Data Center, fully protected for the secure and safe handling of database management and sample supplies. J. Knipper and Company is one of a handful of companies approved as an AMA DBL (database licensee).

    Edgemont Capital Partners, a leading healthcare investment banking firm, acted as exclusive financial advisor to J. Knipper & Company.

    CONTACT:

    At Edgemont Capital Partners

    Jeff B. Swearingen, Managing Director
    Phone: 212-867-8935 Fax: 212-937-3816

  • TRANSACTION OVERVIEW
    acquired by
    December 2010
    • Lifetree Clinical Research
    • Broad Exclusive Sale
    • Salt Lake City, UT
    • Alice Jackson, Co-founder & CEO and Lynn Webster, M.D., Co-founder & CMO
    • Edgemont Capital Partners acted as exclusive financial advisor to Lifetree in its sale to CRI Worldwide
    • Confidential
    • Lifetree is the leading clinical pharmacology company focused on pain drug and human abuse liability (HAL) studies

    Edgemont’s Hospital Outsourced Clinical Services Case Studies

    Case Study: Prologue Clinical Research

    Edgemont served as the exclusive financial advisor to Lifetree Clinical Research (“Lifetree”) in its sale to CRI Worldwide

    • In 2007 Edgemont was retained by founders Alice Jackson and Dr. Lynn Webster to help them explore potential strategic opportunities for Lifetree Clinical Research, the leading clinical research site dedicated to studying compounds being developed for pain, and one of the world’s leaders in the study of human abuse liability
    • Edgemont conducted a traditional two-step process and received strong interest from both strategic acquirers, as well as private equity groups interested in making Lifetree the platform on which a national clinical research organization would be built
    • Lifetree’s owners ultimately chose to pursue a transaction with a strategic acquirer, CRIWorldwide, a clinical research site business offering highly complementary services and focused on areas of CNS clinical research that Lifetree was not actively pursuing
      • Company was subsequently rebranded “CRILifetree”
    • In November 2013, CRILifetree was sold by its venture capital backers to PRA International for a highly attractive valuation, based in large part on the expertise and unique market position that Lifetree brought to the combined business.

    Lifetree Clinical Research is Acquired by CRI Worldwide

    In a move that brings together two of the most highly respected specialized research organizations in the United States, CRI Worldwide, LLC (CRI) today announced that it has completed the acquisition of Lifetree Clinical Research, LC (Lifetree). The combination enriches the early stage clinical research landscape for clients, enabling them to tap into CRI’s leadership in Psychiatry and patient population studies as well as Lifetree’s widely recognized expertise in Pain Management and Human Abuse Liability and its deep expertise in performing complex studies.

    The acquisition greatly expands CRI’s Clinical Pharmacology capacity to more than 120 beds, making CRI one of the largest providers of patient population Phase I services in the United States. The combined organization will provide sponsors with access to more than 6 million people along with a broad range of psychiatry and neurology research products and services at three research sites located in New Jersey, Pennsylvania, and Utah. Above all, clients are more easily able to draw on the expertise of two organizations that share a common culture and vision focused on patient commitment, high quality services, scientific innovation, and ground-breaking research capabilities.

    “As they seek to improve returns on research investments, drug companies and contract research organizations increasingly need clinical research sites that can offer highly specialized services and access to patient populations,” said Jeffrey Kinell, President and Chief Executive Officer of the combined organization. “I am confident that the clinical and operational strength of the CRI and Lifetree teams will provide our clients with the knowledge that their clinical trials will be completed on-time at the highest levels of quality and efficiency.” Kinell continued, “One key element of the combination is that Lifetree’s founders Alice Jackson, RN and Lynn Webster, MD, will remain with the company and continue to lead operations in Utah, while becoming part of the combined organization’s senior management and clinical operations teams.”

    “As clients seek more value for their research spending, the focus and commitment of the combined CRI and Lifetree teams offers a level of service that cannot be matched. There is a pedigree of excellence at both CRI and Lifetree and the opportunity to offer more resources to our clients is exciting. The combination with CRI is the next step in our growth strategy and fulfills a long time goal for Lifetree to expand our early phase work, pain and abuse liability expertise to include psychiatry and neurology services. CRI will provide Lifetree with both the operational and financial resources to continue to do what we do best and to expand the capabilities of the Lifetree Center of Neuroscience Research” said Alice Jackson, President, Lifetree Clinical Research.

    Edgemont Capital Partners, a leading healthcare investment banking firm, acted as exclusive financial advisor to Lifetree Clinical Research.

    CONTACT:

    At Edgemont Capital Partners

    Luke J. Mitchell, Vice President
    Phone: 212-867-8935 Fax: 212-214-0918

    David K. Blume, Managing Director
    Phone: 212-867-8935 Fax: 212-214-0911

  • TRANSACTION OVERVIEW
    acquired by
    December 2010
    • Milford Anesthesia Associates
    • Limited Exclusive Sale
    • Milford, CT
    • Jeff Wagner, M.D., Founder & Managing Partner / Partnership
    • Edgemont Capital Partners acted as exclusive financial advisor to MAA in its sale to EmCare
    • Confidential
    • MAA is a leading anesthesiology services provider to hospitals and clinics in Connecticut

    Edgemont’s Hospital Outsourced Clinical Services Case Studies

    Case Study: Milford Anesthesia Associates

    Edgemont served as the exclusive financial advisor to Milford Anesthesia Associates ("MAA") in its sale to EmCare

    • Edgemont was retained by MAA in late 2007 to advise the partnership on its strategic options after MAA was approached by a strategic acquirer
    • Edgemont worked with MAA's legal advisors to put in place a stream-lined decision making process for the transaction
    • Edgemont quickly assembled marketing materials and built a detailed financial model
      • MAA used cash-basis financial statements for accounting and tax purposes
      • Edgemont utilized billing and collection data to build a "bottom up" accrual-based model
    • Edgemont received initial bids from strategic and financial bidders in mid-2008
      • Fall 2008 financial market collapse put process on hold
    • In the interim, Edgemont recommended that MAA upgrade its financial reporting capabilities and add additional administrative infrastructure
      • New billing and collection software was purchased and implemented
      • Vice president of operations was added
    • Edgemont maintained a dialogue with the most interested parties
      • Three strategic acquirers and one P/E firm
    • In the Fall of 2010 Edgemont quickly contacted a small group of potential acquirers
      • Competitive bidding process concluded with a sale to EmCare on very attractive terms

    Milford Anesthesia is Acquired by EmCare, a division of Emergency Medical Services

    Emergency Medical Services Corporation (NYSE: EMS) (The Company) today announced that an affiliate of its EmCare segment has entered into a definitive agreement to acquire Milford Anesthesia Associates, an anesthesia provider based in Milford, Connecticut (Milford). Founded in 1984, Milford has approximately 100 clinicians and provides outsourced anesthesia services to nine hospitals and 18 ambulatory surgical centers in Connecticut and Massachusetts. Upon completion of the transaction, Milford will operate under its present brand as part of EmCare’s anesthesia services group, AnesthesiaCare. Upon completion, the Company expects that the acquisition will contribute approximately $40 million in annual net revenue.

    William A. Sanger, EMSC Chairman and Chief Executive Officer, said, “Milford has a strong reputation for providing quality patient care and exceptional client service and maintaining long standing relationships in Connecticut and Massachusetts. This acquisition provides us with a solid platform for continued growth in the anesthesia services market. This transaction is consistent with our strategy of partnering with quality providers to expand our presence in individual service lines and increase our opportunities for growth through cross-selling.” The transaction is expected to close within 30 days, subject to customary closing conditions.

    About Emergency Medical Services Corporation

    Emergency Medical Services Corporation (EMSC) is a leading provider of emergency medical services in the United States. EMSC operates two business segments: American Medical Response, Inc. (AMR), the Company’s healthcare transportation services segment, and EmCare Holdings Inc (EmCare), the Company’s outsourced facility-based physician services segment. AMR is the leading provider of ambulance services in the United States. EmCare is a leading provider of outsourced physician services to healthcare facilities. In 2009, EMSC provided services in 13.0 million patient encounters in more than 2,200 communities nationwide. EMSC is headquartered in Greenwood Village, Colorado. For additional information, visit www.emsc.net.

    Edgemont Capital Partners, a leading healthcare investment banking firm, acted as exclusive financial advisor to Milford Anesthesia Associates.

    CONTACT:

    At Edgemont Capital Partners

    Jeff B. Swearingen, Managing Director
    Phone: 212-867-8935 Fax: 212-937-3816

    Luke J. Mitchell, Vice President
    Phone: 212-867-8935 Fax: 212-214-0918

    Milford Anesthesia Associates

    “We engaged Edgemont Capital Partners in 2007 after an extensive search process. We chose Edgemont based on their industry expertise, reputation, and the commitment their senior team showed towards our strategic advisory needs. We have worked with Edgemont for over three years to assess a number of strategic options for MAA.”

    Dr. Jeffrey Wagner
    Founder & Managing Partner
    Milford Anesthesia Associates

  • TRANSACTION OVERVIEW
    recapitalized by an investor group led by Cooper Capital
    November 2010
    • QOL Medical
    • Limited Exclusive Sale & Recapitalization
    • Vero Beach, FL
    • Trevor Blake, CEO and Edwin Hernandez, COO
    • Edgemont Capital Partners acted as exclusive financial advisor to QOL Medical in its recapitalization by Cooper Capital
    • Confidential
    • QOL is a rare disease pharmaceutical company that markets Sucraid for the treatment of Congenital Sucrase-Isomaltase Disorder (CSID)

    QOL Medical Successfully Recapitalized

    Under the terms of the all cash transaction, Ballast Point Ventures and the Company’s founders, Trevor Blake and Edwin Hernandez, will sell all of their interests to an investor group led by Cooper Capital.QOL Medical, LLC, has completed a minority recapitalization led by QOL’s largest shareholder, Cooper Capital. QOL’s leading products include Sucraid® (Sacrosidase), which is the first and only pharmacological therapy approved by the FDA as a simple, safe and effective enzyme replacement therapy for congenital sucrase-isomaltase disease (CSID), and Ethamolin® (Ethanolamine Oleate), the only FDA approved sclerotherapy for the treatment of bleeding esophageal varices. QOL also markets Elliotts B® Solution (buffered intrathecal electrolyte/dextrose solution), used in the prevention or treatment of meningeal leukemia or lymphocytic lymphoma. Under the terms of the all cash transaction, Ballast Point Ventures and the Company’s founders, Trevor Blake and Edwin Hernandez, will sell all of their interests. Edgemont Capital Partners served as the advisor to QOL on the transaction.

    Drew Graham, a QOL Director and Managing Partner with Ballast Point Ventures, remarked “The sale of our remaining interest in QOL Medical builds on QOL’s successful sale of its Nascobal® product to Par Pharmaceuticals in March of 2009 and marks the end of a very successful five year investment for BPV. Trevor Blake and Edwin Hernandez have been terrific partners, and they have created significant value for both QOL shareholders and patients by building a portfolio of under-marketed specialty pharmaceuticals and expanding their reach. We are delighted that Cooper Capital will be the majority owner of QOL going forward with existing investor Conifer Partners and wish them the best as they continue to build the Company.”

    About QOL Medical

    QOL Medical acquires FDA approved specialty pharmaceuticals and uses its unique operational and marketing model to ensure more people who suffer from rare diseases or rare events have access to medications that can improve their quality of life. To learn more, contact QOL Medical at 866.469.3773 or visit the website at www.qolmed.com.

    About Ballast Point Ventures

    Ballast Point Ventures (“BPV”) was founded in 2002 as a joint venture between Raymond James Financial and the principals of South Atlantic Venture Funds. With $200 million in assets under management, BPV provides expansion capital for rapidly growing, privately owned companies in diverse industries, with a particular emphasis on companies located in Florida, the Southeast and Texas. The BPV partners have more than 100 years of combined experience investing in and building high-growth companies in several industries, including health care, communications, business services, technology, financial services and consumer. The Fund seeks to make minority equity investments ranging in size from $3 million to $10 million.

    Edgemont Capital Partners, a leading healthcare investment banking firm, acted as exclusive financial advisor to QOL Medical.

    CONTACT:

    At Edgemont Capital Partners

    David K. Blume, Managing Director
    Phone: 212-867-8935 Fax: 212-214-0911

    Luke J. Mitchell, Vice President
    Phone: 212-867-8935 Fax: 212-214-0918

  • TRANSACTION OVERVIEW
    merged with
    September 2010
    • Averion International
    • Broad Exclusive Sale
    • Southborough, MA
    • Philip Lavin, CEO / ComVest Partners
    • Edgemont Capital Partners acted as exclusive financial advisor to Averion in its merger with Trio Health and Fulcrum Pharma to form Aptiv Solutions
    • Confidential
    • Averion is a leading Contact Research Organization (CRO) conducting medical device clinical trials

    Averion International, Trio Clinical Research, Fulcrum Pharma and ClinResearch/ADDPLAN have been merged

    The merger was led by a group of investors including The Halifax Group, SV Life Sciences and the Comvest Group.Averion International, Trio Clinical Research, Fulcrum Pharma and ClinResearch/ADDPLAN have been merged into a new global biopharmaceutical and medical device development services organization. The merger, led by a group of investors including The Halifax Group, SV Life Sciences and the Comvest Group is part of a strategy to address the constant pressures and challenges currently facing the pharmaceutical, biotech, and medical device industry through a more unique service offering.

    Patrick K. Donnelly, formerly the CEO and one of the founders of PRA International, was named Chairman and CEO of the new group. J. Matthew Bond, formerly of PRA International as well, will be joining as the Chief Financial Officer. Both are investors in the new company. “With this new financial partnership and the combination of services from each company, we can now offer clients around the world access to over 800 professionals that can provide innovative, comprehensive and proven development capabilities. The drug and device industry needs to approach development from a different and more dynamic paradigm,” Mr. Donnelly said.

    Averion International
    Averion International, led by Peter Gonze, Philip Lavin, Ph.D., and Gene Resnick, M.D, will be recapitalized as part of this merger and is a top 25 full-service global CRO that has conducted over 600 clinical trials during a 27 year history. Therapeutic expertise includes oncology, medical devices, and cardiovascular trials. Averion can offer services across all phases of development including feasibility, study design and conduct, consulting, medical writing, regulatory affairs, data management and biostatistics, and pharmacovigilance/drug safety. “The combined resources of our new company positions us to bring truly novel and innovative solutions to companies developing new drugs and medical devices, which sets us apart from other service providers,” commented Peter Gonze, President, Averion International Corp.

    ClinResearch & ADDPLAN
    ClinResearch, led by Dr. Michael Fischer and Reinhard Eisebitt, has applied adaptive clinical trial methodology and implemented tools and systems that enable seamless workflows in data management, supplies management, monitoring and statistics. ADDPLAN, headed by Mr. Eisebitt and Prof. Dr. Gernot Wassmer, has developed comprehensive, industry-standard software for the design, simulation and analysis of adaptive design trials. Together, these companies are the worldwide leaders in adaptive trial services and software. “We will be even better suited, on a global scale, to help our customers adapt to a rapidly changing clinical trial landscape, and navigate the complex process of implementing innovative trial designs,” said Mr. Eisebitt.

    In addition, according to Dr. Fischer, “we are all extremely excited to be part of this new global entity focused on innovation and client service. The opportunity to share resources and expertise will dramatically improve our ability to work with clients in creative and effective ways.”

    Fulcrum Pharma
    Fulcrum Pharma provides the full range of global drug development and regulatory expertise essential to efficiently move development programs from research to product approval. With the continued involvement of its management team, Fulcrum will now have access to additional resources and know-how that will allow it to expand and enhance its development, regulatory and safety services. Fulcrum has locations in UK, Japan, France, Scotland and the United States.

    “As part of a larger, well-funded, global organization, we.ll be able to deliver additional high-value services, to the same exacting standards that our clients have come to expect,” said Phillip Birch, General Manager, Europe.

    Trio Clinical Research
    Trio Clinical Research, led by Betsy Brown, bridges the gap between full-service clinical research organizations and traditional staffing companies by providing trial management, functional outsourcing and professional resourcing services. Trio provides an innovative business model that delivers flexible solutions to accommodate the individual needs of each study.

    “The combined set of service offerings uniquely positions us to address the many challenges faced by our customers. Trio’s business has been built on delivering highly flexible and scalable resources. The new combination of companies allows us to continue this tradition with a much broader range of innovative and unique services.” stated Betsy Brown, President of Trio Clinical Research.

    About The Halifax Group
    The Halifax Group is a private equity firm that specializes in partnering with managers and entrepreneurs to recapitalize and grow lower middle-market businesses across a variety of industries including healthcare services, infrastructure services and business services. The firm maintains offices in Washington, DC; Dallas, TX; and Raleigh, NC. For more information, please visit www.thehalifaxgroup.com.

    About SV Life Sciences
    SV Life Sciences (“SVLS”) is a venture capital adviser and manager providing financing to businesses at all stages of development across the human life sciences sector, including biotechnology, pharmaceuticals, medical devices and instruments, and healthcare information technology and services. SVLS invests internationally with offices in Boston, MA; San Francisco, CA; and London, UK. The firm currently manages or advises six funds with capital commitments of over $2 billion. For more information, please visit www.svlsa.com.

    About The Comvest Group The Comvest Group is a leading private investment firm focused on providing debt and equity solutions to lower middle-market companies with enterprise values of less than $350 million. Since 1988, Comvest has invested more than $2 billion of capital in over 200 public and private companies. Comvest is able to offer companies total financial sponsorship, critical strategic support and business development assistance. Office locations include West Palm Beach, FL; and New York, NY. For more information, please visit www.Comvest.com.

    Edgemont Capital Partners, a leading healthcare investment banking firm, acted as exclusive financial advisor to Averion International.

    CONTACT:

    At Edgemont Capital Partners

    David K. Blume, Managing Director
    Phone: 212-867-8935 Fax: 212-214-0911

    Jeff B. Swearingen, Managing Director
    Phone: 212-867-8935 Fax: 212-937-3816

    Luke J. Mitchell, Vice President
    Phone: 212-867-8935 Fax: 212-214-0918

  • TRANSACTION OVERVIEW
    acquired by
    June 2010
    • Prologue Research International
    • Broad Exclusive Sale
    • Columbus, OH
    • Thomas Ludlam, CEO / The Ohio State University
    • Edgemont Capital Partners acted as exclusive financial advisor to Prologue Research in its sale to Novella Clinical Research
    • Confidential
    • Prologue Research is a leading oncology Contract Research Organization (CRO)

    Edgemont’s Hospital Outsourced Clinical Services Case Studies

    Case Study: Prologue Clinical Research

    Edgemont served as the exclusive financial advisor to Prologue Clinical Research (“Prologue”) in its sale to Novella Clinical Research

    • In 2007 Edgemont was retained by The Ohio State University to provide a strategic and financial assessment of Prologue Clinical Research, a highly regarded oncology-only CRO owned by the University’s foundation, and affiliated with the James Cancer Center
    • Following our review, and after discussions with Prologue’s senior management and board of Directors, Edgemont was retained in 2009 to find a strategic or financial partner for the Company that would
      • Provide the brightest future for Prologue and its employees,
      • Continue Prologue’s history of conducting sophisticated oncology research in the Columbus, Ohio area
      • Preserve jobs in Columbus, and
      • Provide liquidity to the University’s foundation
    • Edgemont ran a comprehensive marketing process and received significant interest from both strategic acquirers and private equity partners
      • Interest was driven by exceptional depth of experience in oncology research, as well as the highly specialized workforce in a cost-favorable geography

    Prologue Research International is Acquired by Novella Clinical

    Novella Clinical announced today the acquisition of Prologue Research International, Inc. (Prologue) an Ohio-based full service Clinical Research Organization (CRO) that focuses exclusively on oncology drug development. “The acquisition of Prologue strengthens our oncology therapeutic franchise and is a strategic addition to our earlier announced deal this year with OSI Pharmaceuticals,” says Richard Staub, President and Chief Executive Officer. Mr. Staub continues, “Prologue’s experience includes the management of more than 120 oncology trials across a wide variety of indications with a customer base that does not overlap with Novella Clinical’s. With Prologue, Novella will expand its support to oncology Sponsors with the creation of a dedicated business unit focused exclusively on oncology drug development, with the objective of bringing much needed products to market to improve the lives of people with cancer.”

    Tom Ludlam, Prologue’s President and CEO, states, “We are excited to be joining forces with Novella Clinical. Combining Prologue’s experienced oncology team with Novella Clinical’s oncology team, their infrastructure and e-based technology allows us to better serve current and future customers in the design and execution of complex oncology programs across geographic regions. As important, Novella Clinical and Prologue share a common culture, centered on customer service and executional excellence.”

    Both Novella Clinical and Prologue Research have been providing contract research services for biotechnology, pharmaceutical and device companies for 12 years. The acquisition will add approximately 60 staff to Novella’s global base of 738 professionals, and an office located in Columbus, Ohio.

    About Novella Clinical

    For over a decade, Novella Clinical has been an active partner in supporting the biopharma and medical device industries with early phase through post-marketing development programs. Although our clinical experience is all-inclusive, our eClinical roots enable us to offer services that are specific to our clients’ needs, often eliminating the demand to contract with multiple partners. From protocol development through final clinical study report — we integrate deep clinical expertise with industry-leading technologies and a proven approach to support, streamline and expertly resource the entire product development process. Our focus on quality customer service is reflected in our certification by Underwriters Laboratories on meeting global quality standards (ISO 9001:2008). For more information, visit www.novellaclinical.com.

    About Prologue Research International

    Prologue Research is a leading global oncology contract research organization (CRO) founded in 1998. The company offers a full range of clinical research services for Phase I-IV clinical trials in oncology. Prologue provides its clients with world-class experience, a deeply qualified staff, and state-of-the-art systems uniquely designed for complicated oncology trials. Prologue offers the expertise, service and talent that enables our sponsors to make an impact in the lives of people with cancer.

    Edgemont Capital Partners, a leading healthcare investment banking firm, acted as exclusive financial advisor to the shareholders of Prologue.

    CONTACT:

    At Edgemont Capital Partners

    Luke J. Mitchell, Vice President
    Phone: 212-867-8935 Fax: 212-214-0918

    Jeff B. Swearingen, Managing Director
    Phone: 212-867-8935 Fax: 212-937-3816

  • TRANSACTION OVERVIEW
    acquired
    February 2010
    • PSKW & Associates
    • Buy-side Advisory
    • Bedminster, NJ
    • Robert Previdi, Jr., President / Four Partners
    • Edgemont Capital Partners acted as exclusive financial advisor to PSKW & Associates in its acquisition of Triax
    • Confidential
    • PSKW is the leading provider of pharmaceutical co-pay assistance programs

    PSKW & Associates Acquires Triax Media Group

    PSKW & Associates LLC of Edison, New Jersey, which owns the Loyalty Rx Co-pay Card, has purchased Triax Media LLC of Irvine, California. At the same time, PSKW has licensed the purchase to its subsidiary, Centricity Group LLC of Mendham, New Jersey.

    Centricity owns unique technology-based solutions to help its pharmaceutical clients manage physician and patient communications. The purchase of Triax Media complements those services by adding Triax’s own proprietary technology in the areas of relationship marketing, personal and non-personal promotion, conventions and medical education.

    “The acquisition also allows Centricity to develop new products, including those linked with our parent company’s Loyalty Rx Co-pay Card, which effectively enhances patient acquisition, retention and compliance,” noted Larry O. Buzbee, Centricity’s COO. “With an office in Irvine, we now have a presence in the important West Coast market, in addition to our existing three offices strategically located to service our clients: two in New Jersey, and one in the Philadelphia area.

    Chuck Morton and Paul Mastracchio, co-founders of Triax Media, will remain with Centricity in senior business development roles. “The company will also use the current office space Triax has in Louisville, Kentucky,” Morton pointed out, “The alignment of PSKW and Triax technology will offer Centricity a one-of-a-kind technology platform built on years of proven market solutions.”

    “We are extremely excited to share combined communication tools that will have a positive impact on our clients and their target audience,” added Mastracchio.

    Edgemont Capital Partners, a leading healthcare investment banking firm, acted as exclusive financial advisor to PSKW & Associates.

    CONTACT:

    At Edgemont Capital Partners

    David K. Blume, Managing Director
    Phone: 212-867-8935 Fax: 212-214-0911

  • TRANSACTION OVERVIEW
    acquired by
    September 2009
    • Tillotts Pharma
    • Limited Exclusive Sale
    • Ziefen, Switzerland
    • Roland Bufton, Founder & CEO / Three Partners
    • Edgemont Capital Partners and IMI Consulting acted as exclusive financial advisors to Tillotts Pharma in its sale to Zeria Pharmaceutical
    • Confidential
    • Tillotts is a leading gastroenterology products pharmaceutical company - Its lead product is Asacol, which it markets under exclusive rights in 44 countries

    Edgemont’s Expertise and Qualifications - European Life Sciences Industry Experience

    Case Study: Tillotts Pharma AG

    • Edgemont advised the owners of Tillotts Pharma AG, an international pharmaceutical company based outside of Basel, Switzerland, on its sale to Zeria Pharmaceuticals of Japan
    • Tillotts held worldwide rights to Asacol (excluding the US), and was seeking to sell itself to a larger global player
      • Tillotts Pharma was the result of a management buyout of certain assets and manufacturing facilities from Medeva plc, then a subsidiary of Celltech, and subsequently acquired by UCB
    • Tillotts' entire operations were located in Switzerland, with the owners primarily located in the UK
    • Edgemont conducted a broad marketing process focused on potential strategic acquirers with significant commercial operations in Europe as well as other U.S. and Asian companies that might be seeking to expand their market presence or gain a true commercial operation in Europe
    • Tillotts received several competitive offers, and ultimately chose to be acquired by Zeria Pharmaceuticals at a price of CHF135 million (~$125 mm)
      • All management meetings and diligence was conducted in Switzerland

    Tillotts Phama is Aquired by Zeria Pharmaceutical

    The Japanese company, Zeria Pharmaceutical Co., Ltd. (“Zeria”) and the Swiss Tillotts Pharma AG (“Tillotts”) are pleased to announce that on September 1st 2009 Zeria has completed the acquisition of Tillotts. As a result of a shareholders meeting followed by board of Directors meeting on the same day, the change of control was approved and the new board of directors were selected and appointed as follows.

    Mr. Sachiaki Ibe, Chairman
    Mr. Thomas Toth, Chief Executive Officer
    Mr. Haruyuki Takeuchi, Director Prof. Ulrich Mittmann, M.D. Director (Non-Executive)
    Mr. Shigeya Furuhata, Director (Non-Executive)

    Tillotts will continue to operate under its prior management from its former corporate offices in Ziefen, near Basel. In order to facilitate future synergies and growth, Mr. Haruyuki Takeuchi, Member of Zeria’s Board of Directors will join Tillotts as Corporate Alliance Director and Member of Tillotts Board of Directors.

    With the acquisition of Tillotts, Zeria will expand its geographic scope to over 50 countries, in which Tillotts is selling its flag-ship brand Asacol®. “The acquisition will allow Zeria to use Tillotts’ network as a base for further expansion throughout Europe and the Middle East” says Mr. Ibe of Zeria. ” Tillotts will in conjunction with Zeria continue expanding its presence in Europe, the Middle East and the rest of Asia by establishing either own subsidiaries or through marketing alliances and collaborations or a combination thereof”. says Tillotts’ Chief Executive Officer, Thomas A. T6th von Kisker. “With our strong Gastrointestinal product portfolio we now seek new complementary in-licensing and co-promotion opportunities”, says further Mr. T6th von Kisker. Tillotts already markets its brand, Asacolon®’ through its Irish subsidiary that was founded in 2005. Recently, Tillotts has repatriated the marketing rights to Asacol® throughout the Nordic territories and currently markets the brand through its newly established Affiliate, Tillotts Pharma AB, in Stockholm. “Asaco~ is the world’s leading pharmaceutical brand for the treatment of Inflammatory Bowel Disease (Source IMS, A7E) and is market leader in all the Nordic countries (Finland, Sweden, Denmark, Norway & Icelandr , says, Mattias Norrman, General Manager of Tillotts Pharma AB.

    Asacol®

    Asacol® (mesalazine) is a safe and efficacious drug for the treatment of Inflammatory Bowel Disease (IBD) and is the world’s leading pharmaceutical brand for the treatment of IBD, having a global market share of 31% (Source IMS: A7E, MAT 12/2008). In recent years, Tillotts has launched the higher strength Asacol® SOOmg tablet in many of its European markets to complement the original 400mg product and is actively developing a 1200mg line extension. In 2004, Zeria in-licensed Japanese rights to Asacol® from Tillotts. In Japan, the product was initially developed for ulcerative colitis. On 28th August 2009, the First Committee on Drugs of the Council on Drugs and Food Sanitation in Japan has recommended the approval of Zeria’s Asacol® for ulcerative colitis. Product launch is scheduled in December 2009. Fro Crohn’s disease, co-development together with Kyowa Hakko Kirin is currently underway.

    Edgemont Capital Partners (New York, USA) and IMI Consulting GmbH (Hannover, Germany) have acted jointly as Tillotts’ financial advisor.

    CONTACT:

    At Edgemont Capital Partners

    David K. Blume, Managing Director
    Phone: 212-867-8935 Fax: 212-214-0911

    Jeff B. Swearingen, Managing Director
    Phone: 212-867-8935 Fax: 212-937-3816

  • TRANSACTION OVERVIEW
    acquired
    September 2008
    • Gryphon Investors
    • Buy-side Advisory
    • Carlsbad, CA
    • Ellen Morgan, Founder & CEO / Celerity Partners
    • Edgemont Capital Partners acted as exclusive financial advisor to Gryphon Investors in its acquisition of Synteract from Celerity Partners
    • Confidential
    • Synteract is a mid-sized Contract Research Organization (CRO) focused on central nervous system (CNS) and Oncology Trials

    Gryphon Investors Recapitalizes Synteract and Vince & Associates

    Gryphon Investors announced today that it led the simultaneous recapitalization of Synteract, Inc. and Vince & Associates Clinical Research in partnership with management and Celerity Partners. Both Synteract and VNA provide outsourced pharmaceutical services to biotechnology and pharmaceutical companies.The management of Synteract and VNA will remain in place and become meaningful shareholders of Synteract Corporation, the newly-formed holding company that will now own both businesses. Celerity Partners, which previously invested in Synteract in June 2006 and VNA in November 2007, will remain a shareholder through Synteract Corporation. Terms of the transaction were not disclosed.

    Based in Carlsbad, California, Synteract is a leading provider of CRO (contract research organization) services, primarily to biotechnology and medical device companies, and has specific expertise in conducting clinical trials for oncology and central nervous system drugs. Founded in 1995 by Ellen Morgan and Russell Holmes, Synteract provides a full service CRO offering, primarily for Phase I-III clinical trials in the U.S. and internationally. Synteract recently opened an office in North Carolina’s Research Triangle Park to support its East Coast and international clients.

    Based in Overland Park, Kansas, Vince & Associates Clinical Research is one of the leading providers of clinical trials site services to pharmaceutical and biotechnology companies. Since its founding by Dr. Bradley Vince in 2001, VNA has grown to become one of the leading clinical trial services companies in the U.S. VNA specializes in central nervous system trials and sleep disorders research and conducts Phase I-IV clinical trials in a variety of different therapeutic areas with particular strength in recruiting challenging subject populations. It recently expanded its Phase I trial capabilities by opening a dedicated Phase I facility.

    Ellen Morgan, who will remain CEO of Synteract, Inc., stated, “We are excited about our partnership with Gryphon and the opportunity it affords us to deepen the services we provide to our clients both in the U.S. and internationally. We look forward to expanding our relationship with VNA in the future, particularly with regard to central nervous system trials.” Brad Vince, who will remain CEO of VNA, commented, “We could not be happier to be partnering with Gryphon, and we believe that their capital and expertise will allow VNA to build upon its historical success in providing Phase I-IV clinical trials services. In addition, we are excited about working more closely with Synteract in the future and utilizing our site expertise to enhance the services Synteract provides to its clients.”

    Nick Orum, a Partner at Gryphon and head of its Business Services Group, said, “This investment is the culmination of a year-long effort by Gryphon to become an active participant in the dynamic, growing field of outsourced drug development services. Both Synteract and VNA are true leaders in their specialty areas, delivering valuable, highly-differentiated services to their customers.” Alex Earls, a Principal at Gryphon, added, “The terrific management of these companies has built businesses that are well-positioned to continue capitalizing on the rapid growth in demand for their pharmaceutical research and development services. We are delighted to become their lead financial partner.”

    “We are excited about partnering with Gryphon Investors whose capital and operating resources will enable us to advance this important strategy much faster than we could on our own,” said Steve Adamson, Managing Partner of Celerity Partners.

    Edgemont Capital Partners, a leading healthcare investment banking firm to life sciences and pharmaceutical companies, acted as exclusive financial advisor to Gryphon Investors.

    www.edgemontcapital.com

    CONTACT:

    At Edgemont Capital Partners

    David K. Blume, Managing Director
    Phone: 212-867-8935

    Jeff B. Swearingen, Principal
    Phone: 212-867-8935

     

  • TRANSACTION OVERVIEW
    acquired
    September 2008
    • Gryphon Investors
    • Buy-side Advisory
    • Overland Park, KS
    • Brad Vince, D.O., Founder & President / Celerity Partners
    • Edgemont Capital Partners acted as exclusive financial advisor to Gryphon Investors in the acquisition of Vince and Associates from Celerity Partners
    • Confidential
    • Vince and Associates is the leading clinical pharmacology services provider focused on conducting early development studies in patient populations

    Gryphon Investors Recapitalizes Synteract and Vince & Associates

    Gryphon Investors announced today that it led the simultaneous recapitalization of Synteract, Inc. and Vince & Associates Clinical Research in partnership with management and Celerity Partners. Both Synteract and VNA provide outsourced pharmaceutical services to biotechnology and pharmaceutical companies.The management of Synteract and VNA will remain in place and become meaningful shareholders of Synteract Corporation, the newly-formed holding company that will now own both businesses. Celerity Partners, which previously invested in Synteract in June 2006 and VNA in November 2007, will remain a shareholder through Synteract Corporation. Terms of the transaction were not disclosed.

    Based in Carlsbad, California, Synteract is a leading provider of CRO (contract research organization) services, primarily to biotechnology and medical device companies, and has specific expertise in conducting clinical trials for oncology and central nervous system drugs. Founded in 1995 by Ellen Morgan and Russell Holmes, Synteract provides a full service CRO offering, primarily for Phase I-III clinical trials in the U.S. and internationally. Synteract recently opened an office in North Carolina’s Research Triangle Park to support its East Coast and international clients.

    Based in Overland Park, Kansas, Vince & Associates Clinical Research is one of the leading providers of clinical trials site services to pharmaceutical and biotechnology companies. Since its founding by Dr. Bradley Vince in 2001, VNA has grown to become one of the leading clinical trial services companies in the U.S. VNA specializes in central nervous system trials and sleep disorders research and conducts Phase I-IV clinical trials in a variety of different therapeutic areas with particular strength in recruiting challenging subject populations. It recently expanded its Phase I trial capabilities by opening a dedicated Phase I facility.

    Ellen Morgan, who will remain CEO of Synteract, Inc., stated, “We are excited about our partnership with Gryphon and the opportunity it affords us to deepen the services we provide to our clients both in the U.S. and internationally. We look forward to expanding our relationship with VNA in the future, particularly with regard to central nervous system trials.” Brad Vince, who will remain CEO of VNA, commented, “We could not be happier to be partnering with Gryphon, and we believe that their capital and expertise will allow VNA to build upon its historical success in providing Phase I-IV clinical trials services. In addition, we are excited about working more closely with Synteract in the future and utilizing our site expertise to enhance the services Synteract provides to its clients.”

    Nick Orum, a Partner at Gryphon and head of its Business Services Group, said, “This investment is the culmination of a year-long effort by Gryphon to become an active participant in the dynamic, growing field of outsourced drug development services. Both Synteract and VNA are true leaders in their specialty areas, delivering valuable, highly-differentiated services to their customers.” Alex Earls, a Principal at Gryphon, added, “The terrific management of these companies has built businesses that are well-positioned to continue capitalizing on the rapid growth in demand for their pharmaceutical research and development services. We are delighted to become their lead financial partner.”

    “We are excited about partnering with Gryphon Investors whose capital and operating resources will enable us to advance this important strategy much faster than we could on our own,” said Steve Adamson, Managing Partner of Celerity Partners.

    Edgemont Capital Partners, a leading healthcare investment banking firm to life sciences and pharmaceutical companies, acted as exclusive financial advisor to Gryphon Investors.

    www.edgemontcapital.com

    CONTACT:

    At Edgemont Capital Partners

    David K. Blume, Managing Director
    Phone: 212-867-8935

    Jeff B. Swearingen, Principal
    Phone: 212-867-8935

     

  • TRANSACTION OVERVIEW
    valuation services
    April 2008
    • HemCon
    • Financial Valuation
    • Portland, OR
    • John W. Morgan, CEO
    • Edgemont Capital Partners provided valuation services to HemCon
    • Confidential
    • HemCon develops, manufactures and markets advanced wound care products
  • TRANSACTION OVERVIEW
    recapitalized by
    November 2007
    • Vince and Associates Clinical Research
    • Broad Exclusive Sale
    • Overland Park, KS
    • Brad Vince, D.O., Founder & President
    • Edgemont Capital Partners acted as exclusive financial advisor to Vince and Associates Clinical Research
    • Confidential
    • Vince and Associates is the leading clinical pharmacology services provider focused on conducting early development studies in patient populations

    Pharmaceutical Services Case Studies

    Case Study: Vince and Associates Clinical Research

    • Vince, the founder and CEO of Vince and Associates, approached Edgemont Capital Partners in Spring 2007 about exploring a potential sale or recapitalization of the business
    • A significant portion of Dr. Vince’s wealth was tied up in the business and he was seeking partial liquidity as part of a risk diversification plan
    • Vince also was seeking to attract additional growth capital in order to expand the business geographically
    • As part of a comprehensive marketing process, Edgemont approached a wide range of strategic acquirers and financial investors
    • Ultimately, Vince and Associates chose to pursue a deal with Celerity Partners, a private equity fund with significant experience in the pharmaceutical service sector
    • Celerity Partners demonstrated the greatest flexibility and creativity in structuring a transaction
      • Vince sold a majority position in Vince and Associates, retaining a meaningful residual interest
      • Provided Dr. Vince with additional capital to expand the business to several new locations in the very near term
      • Deal was structured to offer Dr. Vince additional consideration if the business continued to perform

    Vince and Associates Clinical Research Partners with Private Equity Firm Celerity Partners

    Vince and Associates Clinical Research (VNA), a leading independent provider of clinical trial services to the global pharmaceutical and biotechnology industry, announced today it has partnered with private equity investor Celerity Partners (Celerity). This partnership will enable Vince and Associates to strategically expand its leading market presence throughout the Midwest. VNA’s senior management will continue to hold a significant equity interest and will remain actively involved with the company.

    “We are very excited to be partnering with such a well respected and knowledgeable firm in the clinical research industry,” said Dr. Brad Vince, Founder, Chief Executive Officer and President of VNA, and a member of the company’s Board of Directors. “This strategic alliance will allow our organization to better serve our pharmaceutical clients by offering additional Midwestern clinical research locations in which to conduct clinical trials,” Vince said.

    Since its formation in 2001, VNA has grown to become one of the leading clinical trial services companies in the U.S. specializing in central nervous system research (one of the most rapidly growing segments of biopharmaceutical research) with renowned therapeutic expertise in Sleep Disorders research and other therapeutic specialties. With vast experience in conducting both overnight and outpatient studies, the Company is typically among the fastest and highest enrolling sites in the clinical studies in which it participates.

    “VNA has established an exceptional model for recruiting and retaining clinical research participants within a framework of impressive quality controls for clinical trials in large and growing therapeutic areas. The market for specialized clinical development and consulting services to the biopharmaceutical industry continues to expand. VNA is a very strong competitor, offering pharmaceutical and biotechnology companies a fast, cost-effective approach to gaining regulatory approval for promising new compounds. We are delighted to be a partner in VNA’s bright future,” stated Allen Chi, Principal of Celerity.

    The transaction with Celerity Partners represents VNA’s first institutional financing. In conjunction with this financing, Allen Chi of Celerity has joined VNA’s Board of Directors.

    Edgemont Capital Partners, a leading healthcare investment banking firm to life sciences and pharmaceutical services companies, acted as exclusive financial advisor to VNA in this transaction.

    www.edgemontcapital.com

    CONTACT:

    At Edgemont Capital Partners

    David K. Blume, Managing Director
    Phone: 212-867-8935 Fax: 212-214-0911

    Jeff B. Swearingen, Principal
    Phone: 212-867-8935 Fax: 212-937-3816

  • TRANSACTION OVERVIEW
    acquired by
    October 2007
    • Alliance Healthcare Information
    • Broad Exclusive Sale
    • Ivyland, PA
    • John W. Thorne, Founder & CEO / Two Partners
    • Edgemont Capital Partners acted as exclusive financial advisor to Alliance in its sale to United Drug
    • Confidential
    • Alliance Healthcare Information is a leading teleservices provider to the healthcare industry

    Pharmaceutical Services Case Studies

    Case Study: Alliance Healthcare Information

    • Edgemont advised Alliance Health Information (“AHI”) on its sale to United Drug
    • AHI is a leading provider of outsourced call center services to meet the sales, marketing, and regulatory needs of pharmaceutical companies
    • AHI had previously been approached by a buyer and was “left at the altar” after a long period of due diligence and negotiation
    • AHI engaged Edgemont to pursue a structured sale process after several potential buyers expressed preliminary interest
    • AHI’s principal was seeking certainty of a transaction on the best terms
    • Edgemont approached several strategic buyers, generating strong competition between three final parties
    • Final transaction price increased during the process due to the competitive dynamic between bidders
    • Multiple interested parties meant the certainty of a transaction close was very high
    • Final terms represented a significant improvement (2x) in price over the previous, unconsummated transaction

    United Drug Acquires Alliance Health, U.S.-Based Pharmaceutical Sales and Marketing Services Company

    United Drug Plc, a leading provider of services to healthcare manufacturers and pharmaceutical retailers in Ireland the UK and Continental Europe today announced that it has acquired the entire issued share capital of Alliance Healthcare Information Inc (“Alliance”) based in Ivyland, Pennsylvania.

    Alliance provides a range of call centre solutions to support Pharma companies sales and marketing requirements, including medical affairs information, patient compliance support and clinical trials recruitment. The company’s communication centre is staffed by medically trained professionals and they provide services to a broad range of major pharmaceutical companies. The business currently employs 163 people, including senior management, all of whom will remain with the business.

    The consideration for the acquisition is $9.5 million in cash, paid on completion, plus additional consideration of up to $1 million payable based on achievement of agreed targets over the next 12 months.

    Speaking about the Company’s acquisition today, United Drug’s Chief Executive, Liam FitzGerald said:

    “We are delighted to announce the acquisition of Alliance. This is a highly professional operation providing a range of value-add services to aid pharmaceutical companies sales and marketing efforts. Alliance will fit alongside our existing US Contract Sales Outsourcing and Consultancy (CSC) business and will allow us to broaden our service offering and customer relationships in the US market.”

    “I would like to welcome all management and staff of Alliance to the United Drug organisation and look forward to working with them to build upon their success to date and to further our development as a leading international healthcare services company.”

    Edgemont Capital Partners acted as exclusive financial advisor to Alliance Healthcare Information in this transaction.

    www.edgemontcapital.com

    CONTACT:

    At Edgemont Capital Partners

    David K. Blume, Managing Director
    Phone: 212-867-8935 Fax: 212-214-0911

    Jeff B. Swearingen, Principal
    Phone: 212-867-8935 Fax: 212-937-3816

  • TRANSACTION OVERVIEW
    acquired by
    July 2007
    • ARS Clinical Research
    • Broad Exclusive Sale
    • Waltham, MA
    • Ajay Sahdwani, Co-founder & Walt Wunder, Co-founder
    • Edgemont Capital Partners acted as exclusive financial advisor to ARS Clinical Research
    • Confidential
    • ARS is a Contract Research Organization (CRO) that specializes in clinical data management and Oracle Clinical database services for the pharmaceutical, biotechnology, and medical device industries

    Pharmaceutical Services Case Studies

    Case Study: ARS Clinical Research

    • Edgemont advised ARS Clinical Research (“ARS”) on its sale to Premier Research for $22 million
    • ARS is a contract research organization specializing in clinical data management and Oracle Clinical database services for the pharmaceutical, biotechnology, and medical device industries
    • Originally established in 1998 as a clinical research consulting firm focused on clinical monitoring and data management activities. The company leveraged its success in clinical data management to grow and evolve ARS into a full service contract research organization
    • ARS was seeking to partner with a larger organization to better leverage its infrastructure and expand its client list
    • Management was committed to continuing with the business post-transaction
    • Edgemont conducted a broad sale process with a range of potential strategic and financial buyers in order to find the best opportunity for the continued success of the business and partial shareholder liquidity
    • Purchase price reflected a valuation of approximately 4x 2006 revenue and 10.5x 2006 EBITDA

    Premier Research Group Acquires ARS Inc.

    Acquisition Expands Depth and Breadth of Offerings

    Premier Research Group plc (AIM: PRG) the international pharmaceutical services group today announced the acquisition of ARS Inc. The acquisition continues the Company’s stated strategy of building an international business both organically and through strategically placed acquisitions.

    Commenting on the acquisition, Dr. Simon Yaxley, Chief Executive Officer of Premier Research said: “We are delighted with the opportunity to expand both the depth and breadth of our offering in this way. [ARS] represents a further important step in our strategy of building a leading international contract research organisation.”

    Based in the Boston, MA area, ARS will immediately strengthen Premier Research’s presence in the growing New England biotech market. ARS also brings well established capabilities and expertise in Oracle Clinical.

    About ARS
    The business is a contract research organisation (CRO) that specialises in clinical data management and Oracle Clinical database services for the pharmaceutical, biotechnology, and medical device industries.

    ARS was originally established in 1998 as a clinical research consulting firm focused on clinical monitoring and data management activities. Since its founding, the company has leveraged its success in clinical data management to grow and evolve ARS into a full service contract research organisation. The company has shown consistent and strong revenue growth given its project-based business model and has nearly doubled revenue in the past two years.

    Edgemont Capital Partners served as exclusive financial advisor to ARS Inc.

    www.edgemontcapital.com

    CONTACT:

    At Edgemont Capital Partners

    David K. Blume, Managing Director
    Phone: 212-867-8935 Fax: 212-214-0911

    Jeff B. Swearingen, Principal
    Phone: 212-867-8935 Fax: 212-937-3816

     

  • TRANSACTION OVERVIEW
    acquired by
    March 2007
    • ValueMedics Research
    • Limited Exclusive Sale
    • Falls Church, VA
    • Jon Tierce, Hodie Hazard, David Battleman, Josh Benner, Co-Founders and Partners
    • Edgemont Capital Partners acted as exclusive financial advisor to ValueMedics Research is its sale to IMS Health
    • Confidential
    • ValueMedics is a leader in health economics, outcomes and reimbursement consultancy

    Pharmaceutical Services Case Studies

    Case Study: ValueMedics Research

    • Edgemont advised ValueMedics Research (“VMR”) on its sale to IMS Health
    • VMR is a health economics and outcomes research consulting firm with significant expertise in pharmaceutical pricing and reimbursement
    • VMR was not seeking a sale, but was aggressively approached by several potential acquirers
    • VMR engaged Edgemont to review its alternatives including remaining independent
    • Ultimately the opportunity to continue to grow as part of IMS presented the most attractive alternative
    • Edgemont negotiated favorable terms on VMR’s behalf and helped to ensure a fast closing process
    • Transaction terms were not disclosed

    IMS Acquires ValueMedics Research in the U.S., Extending Capabilities to Demonstrate Value of Medicines

    Expanded Global Health Economics and Outcomes Research Expertise Delivers Critical, Evidence-Based Analysis to Clients for Advancing Healthcare

    MS Health (NYSE: RX), the world’s leading provider of market intelligence to the pharmaceutical and healthcare industries, today announced the acquisition of ValueMedics Research LLC, another step in expanding its global capabilities to help clients demonstrate the value of medicines in advancing healthcare worldwide. ValueMedics, a leading healthcare research and consulting firm based in Falls Church, Virginia, significantly extends IMS’s Health Economics and Outcomes Research (HEOR) expertise in the United States. Terms of the transaction were not disclosed.“Today, healthcare stakeholders – including governments, payers, providers and patients – require deeper insights into the value of medicines,” said Gilles Pajot, IMS’s chief operating officer. “The acquisition of ValueMedics further strengthens our ability to demonstrate the efficacy, effectiveness and efficiency of drugs and their potential impact in real-world clinical practice. In short, we provide the ‘proof points’ critical to ensuring that new innovations reach the market and patients faster, and are incorporated into appropriate guidelines of care.”

    With one of the largest global HEOR specialist teams in the marketplace today and detailed knowledge of regional and local markets, IMS has established a strong platform to support the industry’s growing need for real-world evidence of the clinical and economic value of therapies and treatment options in advancing health. The transaction brings together ValueMedics’ strategic competencies in health policy, outcomes research, health economics and market access strategies with IMS’s global information assets, analytics and consulting capabilities. As a result, clients gain access to powerful, evidence-based analyses and insights that enable them to bring new drugs to market more quickly and effectively.

    ValueMedics’ core offerings include critical qualitative and quantitative HEOR analytics, strategic consulting and healthcare communications, as well as evidence-based program evaluation and design. The company’s groundbreaking work in the areas of patient compliance and the economic valuations of medical technologies is widely recognized by the industry.

    IMS’s locally based specialists provide health economics and outcomes assessments that use IMS’s anonymized, longitudinal patient-level and disease-specific data, as well as global sales and prescription insights. They apply proven methodologies and analytics, and deliver unmatched insights to clients in areas that include cost-effectiveness studies, compliance and persistence analyses, budget impact assessments and burden-of-illness studies. The company supports clients’ strategic decisions across the product lifecycle – from R&D to launch to product maturity.

    During the past three years, IMS has accelerated its growth in health economics and outcomes research at the local, national and international levels in the U.S., Europe and the Asia Pacific region, including Australia.

    “We are extremely pleased to join a team that shares our commitment to clients and recognizes that their goals are best achieved when efforts in health outcomes, economics and market access are integrated and focused,” said ValueMedics Principal Jonothan Tierce, who will lead IMS’s HEOR practice in the Americas. “The combined capabilities of ValueMedics and IMS provide the extensive, multi-level HEOR expertise to help clients determine, demonstrate, and communicate the value of medicines.”

    Edgemont Capital Partners served as exclusive financial advisor to ValueMedics Research.

    www.edgemontcapital.com

    CONTACT:

    At Edgemont Capital Partners

    David K. Blume, Managing Director
    Phone: 212-867-8935 Fax: 212-214-0911

    Jeff B. Swearingen, Principal
    Phone: 212-867-8935 Fax: 212-937-3816

     

  • TRANSACTION OVERVIEW
    acquired by
    October 2006
    • California Clinical Trials
    • Broad Exclusive Sale
    • Glendale, CA
    • Murray Rosenthal, D.O., Co-founder & CMO and Robert Palko, Co-founder & CEO
    • Edgemont Capital Partners acted as exclusive financial advisor to California Clinical Trials in its sale to Parexel International
    • Confidential
    • CCT is the leading clinical pharmacology services provider for central nervous system (CNS) drug trials and operates a 35 bed Phase I unit on the campus of Glendale Hospital in Los Angeles

    Pharmaceutical Services Case Studies

    Case Study: California Clinical Trials

    • Edgemont advised California Clinical Trials (“CCT”), and its affiliate Behavioral Medical Research (“BMR”), on its successful acquisition by PAREXEL for $65 million in cash at closing
    • In 2002 BMR acquired CCT from UnitedHealth Group and the Company subsequently operated as CCT
    • CCT is a clinical trials service company specializing in CNS disorders, with a strong focus on sleep and serious behavioral conditions
    • CCT’s four locations in southern California had 35 beds at the time of sale, with plans underway to expand to 51 beds
    • CCT’s owners desired to sell the company to a full-service CRO that would provide a larger platform on which to grow the business, offering the Company’s management team the potential for strong future growth
    • CCT’s founders were also seeking to retire after a modest transition period
    • Edgemont conducted a broad sale process

    The competitive process enabled CCT to optimize the valuation and other key sale terms

    PAREXEL Agrees to Acquire California Clinical Trials Medical Group, Inc., and Behavioral and Medical Research, LLC

    Acquisition Adds West Coast Phase I Unit and Specialty Phase II – IV Clinical Research Services

    PAREXEL International Corporation (NASDAQ: PRXL), a leading global bio/pharmaceutical services organization, today announced the execution of a definitive purchase agreement to acquire the business and operations of California Clinical Trials Medical Group, Inc. (“CCT”) and Behavioral and Medical Research, LLC (“BMR”).Established in 1981 with headquarters in San Diego, CCT and BMR provide a broad range of specialty Phase I – IV clinical research services through four clinical sites in California. The purchase price is $65 million, and the acquisition is expected to close within the next thirty days.

    “The acquisition will further strengthen our global Clinical Pharmacology Network with the addition of 51 Phase I beds on the West Coast,” stated Josef von Rickenbach, Chairman and CEO of PAREXEL. “A 35-bed unit located on the campus of the Glendale Adventist Medical Center combined with an additional 16 beds that are currently under construction at another location, will expand PAREXEL’s Clinical Pharmacology capacity to over 400 beds, making PAREXEL one of the largest providers of Phase I services in the world. The deep experience that CCT and BMR have with central nervous system clinical trials and neuroscience drug development services, combined with their expertise in performing complex studies, will enhance the services we currently provide to clients. Of note, they have been pioneers in Japanese bridging studies, working closely with Japanese regulatory officials to enable pharmaceutical companies to save time and development costs by gathering the data necessary for Japanese regulatory submissions from sites outside of Japan. CCT has also established a strong franchise with renowned expertise in the area of sleep disorders, which will be an excellent complement to the sleep studies PAREXEL currently offers. The revenue and profits the acquisition will bring will also help to accelerate a return to profitability in PAREXEL’s U.S. operations.”

    Robert Palko, President and Chief Operating Officer of CCT and BMR, noted, “Joining forces with PAREXEL should enable us to access a much broader client base for our specialized Phase I through IV services, and provide us with the ability to present our clients with a more extensive product and service offering to meet their diverse needs. We look forward to better leveraging our specialized expertise as we integrate our company with PAREXEL’s robust consulting and clinical research services portfolio.”

    Edgemont Capital Partners served as exclusive financial advisor to California Clinical Trials.

    www.edgemontcapital.com

    CONTACT:

    At Edgemont Capital Partners

    David K. Blume, Managing Director
    Phone: 212-867-8935 Fax: 212-214-0911

    Jeff B. Swearingen, Principal
    Phone: 212-867-8935 Fax: 212-937-3816

     

  • TRANSACTION OVERVIEW
    acquired by
    October 2006
    • Lineberry Research Associates
    • Broad Exclusive Sale
    • Durham, NC
    • Charles and Cat Lineberry, Co-founders
    • Edgemont Capital Partners acted as exclusive financial advisor to Lineberry Research Associates in its sale to Constella Group
    • Confidential
    • LRA is a specialty contract research organization (CRO) focused on central nervous system (CRO) clinical trials

    Pharmaceutical Services Case Studies

    Case Study: Lineberry Research Associates

    • Edgemont advised Lineberry Research Associates (“LRA”) on its sale to Constella Group
    • Constella is a highly-acquisitive service provider seeking to bolster its pharmaceutical services offering
      • Backed by a private equity fund
    • LRA is a well-recognized CRO with significant strength in regulatory and strategic consulting
    • LRA’s principals were seeking to sell the business to a larger CRO that could leverage the company’s service offering and provide the owners with an eventual transition out of the business they had founded
    • Upon completion of the transaction, LRA’s principals assumed senior roles within Constella
    • Edgemont conducted a highly-focused sale process intended to limit the potential repercussions and disruptions to LRA’s business and employees
    • Transaction terms were not disclosed

    Constella Group to Acquire Research Triangle Park Contract Research Organization

    Acquisition of Lineberry Research Associates to Expand Constella’s U.S. Regulatory Affairs and Product Development Services

    Constella Group, a leading global provider of professional health services, announced today that it has signed a definitive agreement to acquire Lineberry Research Associates (LRA), a full-service, U.S. contract research organization and consulting firm based in Research Triangle Park, N.C.

    Founded in 1995, LRA is a leading provider of regulatory affairs, medical writing, product development strategy, clinical trial management and data management services for pharmaceutical and biotechnology companies. LRA employs more than 75 people, all of whom will join Constella’s pharmaceutical product development business unit once the acquisition is complete, which is expected to occur within the next 30 days.

    This acquisition will provide Constella with greater expansion of its U.S. regulatory, product development, quality assurance, data management, medical writing and clinical trials capabilities. The combined organization will give Constella greater capacity and additional resources to expand its global platform to deliver full service drug development programs toward its vision of enhancing human health around the world, every day.

    “With the addition of LRA, Constella will have a stronger regulatory, product development and medical writing presence in the United States as well as expanded clinical and biometrics operations,” said Donald A. Holzworth, Constella Group chairman and CEO. “LRA has built a strong reputation in the CRO marketplace and shares our commitment for quality work and strong client relationships. This acquisition is a strategic fit for both organizations, and I look forward to welcoming LRA’s employees into Constella.”

    LRA will begin operating under the Constella Group name in the next few months. Charles Lineberry, chief executive officer, and Cat Lineberry, president, will remain actively involved in the business as chief scientific officer, and vice president of strategic affairs, respectively. They will report to Steve Smith, president of the company’s pharmaceutical product development business unit.

    “We are proud to join an organization that has such a strong commitment to enhancing human health,” said Charles Lineberry, CEO of LRA. “Joining Constella will allow us to provide our clients with broader services, greater geographical reach, particularly in Europe, and increased clinical and data management capabilities in the United States.”

    “Constella shares our corporate culture and philosophy of building strong client relationships,” said Cat Lineberry, president of LRA. “Like LRA, Constella recognizes that its commitment to employees and clients is critical to the continued success of the company.”

    This announcement follows Constella’s acquisition of Origin, a European CRO headquartered in the UK, this past March. Through its acquisition of Origin, Constella expanded its capability to build a global platform to provide contract drug and device development services. Constella acquired four offices with this acquisition, including offices in Oxford and Cambridge in the United Kingdom and in Paris, France and Cologne, Germany.

    Edgemont Capital Partners served as exclusive financial advisor to Lineberry Research Associates.

    www.edgemontcapital.com

    CONTACT:

    At Edgemont Capital Partners

    David K. Blume, Managing Director
    Phone: 212-867-8935 Fax: 212-214-0911

    Jeff B. Swearingen, Principal
    Phone: 212-867-8935 Fax: 212-937-3816

     

  • TRANSACTION OVERVIEW
    acquired the rights to Doral from
    May 2006
    • Questcor Pharmaceuticals
    • Broad Exclusive Sale
    • Hayward, CA
    • Jim Fares, CEO / Public
    • Edgemont Capital Partners acted as exclusive financial advisor to Questcor Pharmaceuticals in its sale of Nascobal and Ethamolin to QOL Medical
    • Confidential
    • Questcor Pharmaceuticals is a leading specialty / rare disease pharmaceutical company. Its lead product is Acthar Gel.

    Questcor Announces the Acquisition of Doral(R) (quazepam); Provides Second Product for National Neurology Sales Force

    Questcor Pharmaceuticals, Inc. (AMEX:QSC) today announced the acquisition of U.S. rights to Doral(R) (quazepam), a non-narcotic, selective benzodiazepine receptor agonist that is indicated for the treatment of insomnia, characterized by difficulty in falling asleep, frequent nocturnal awakenings, and/or early morning awakenings. Questcor is acquiring the product from MedPointe Inc. for $2.5 million in cash and a future milestone payment of $1.5 million. Gross ex-factory sales for Doral in 2005 were $1.1 million.

    “Sleep disturbance and insomnia is a very common side effect of many, if not most, neurological diseases and disorders such as Multiple Sclerosis, Epilepsy, Parkinson’s disease, and Alzheimer’s disease and is a critical concern of Questcor’s targeted physicians. We believe that Doral will complement our efforts to expand the prescribing of our lead product, H.P. Acthar(R) Gel (repository corticotropin injection), and will allow Questcor to significantly leverage our forty person national neurology sales force,” said Jim Fares, President and CEO of Questcor.

    The U.S. market for sleep medicines has seen significant growth over the past several years and is estimated to have generated over $3 billion in prescription drug sales in 2005. The prescribing by Questcor’s target physicians was estimated at over $100 million in 2005 which was an increase of nearly 30% from 2004. “We believe that Doral has a number of unique properties that make it an attractive option for the many neurology patients who suffer from sleep disturbance. Doral has never been promoted directly to neurologists and we believe our national sales force will be able to capitalize on its attractive therapeutic profile,” continued Mr. Fares.

    Doral will be the second branded prescription product to be marketed by Questcor’s national sales force and further validates Questcor’s strategy to focus on becoming a leading CNS focused specialty pharmaceutical company. Questcor expects to re-launch Doral in the third quarter.

    Edgemont Capital Partners served as exclusive financial advisor to Questcor Pharmaceuticals, Inc.

    www.edgemontcapital.com

    CONTACT:

    At Edgemont Capital Partners

    David K. Blume, Managing Director
    Phone: 212-867-8935 Fax: 212-214-0911

    Jeff B. Swearingen, Principal
    Phone: 212-867-8935 Fax: 212-937-3816

  • TRANSACTION OVERVIEW
    acquired product rights to Gastrocrom
    January 2006
    • Burren Pharmaceuticals and Azur Pharma
    • Financing
    • Philadelphia, PA
    • (Burren) Stephen Casey, Charles Hruska, (Azur) Seamus Mulligan, David Brabazon and Eunan McGuire
    • Edgemont Capital Partners acted as exclusive financial advisor to Burren Pharmaceuticals in the partnering of its exclusive rights to acquire Gastrocrom from UCB Pharma with Azur Pharma
    • Confidential
    • Burren Pharmaceuticals and Azur Pharma are specialty pharmaceutical companies with a primary focus on the acquisition of marketed prescription pharmaceuticals

    Azur Pharma acquired product rights to Gastrocrom

    Azur Pharma Limited (“Azur Pharma”) today announced that it has acquired the U.S. rights to Gastrocrom® (cromolyn sodium, usp Oral Concentrate) from UCB Pharma, Inc (“UCB”).  Gastrocrom® is indicated in the management of patients suffering from mastocytosis, a rare disorder characterized by an abnormal accumulation of mast cells in various organ systems.  Annual sales of Gastrocrom® amount to approximately US$5 million.

    “I am pleased to announce our first product acquisition, Gastrocrom®, a mature and stable prescription product indicated for a rare and often chronic disorder.  This acquisition is an important first step as we seek to execute on our mission of creating a U.S. pharmaceutical business focused on developing and marketing products in specialist therapeutic areas.” commented Mr. Seamus Mulligan, Azur Pharma’s Chairman and Chief Executive Officer.

  • TRANSACTION OVERVIEW
    fairness opinion
    October 2005
    • Questcor Pharmaceuticals
    • Fairness Opinion
    • Hayward, CA
    • Jim Fares, CEO / Public
    • Edgemont Capital Partners provided a valuation fairness opinion to Questcor Pharmaceuticals
    • Confidential
    • Questcor Pharmaceuticals is a leading specialty / rare disease pharmaceutical company. Its lead product is Acthar Gel.
  • TRANSACTION OVERVIEW
    sold the Nascobal product line to
    October 2005
    • Questcor Pharmaceuticals
    • Buy-side advisory
    • Hayward, CA
    • Jim Fares, CEO / Public
    • Edgemont Capital Partners acted as exclusive financial advisor to Questcor Pharmaceuticals in its acquisition of Doral from Medpointe Pharmaceuticals
    • Confidential
    • Questcor Pharmaceuticals is a leading specialty / rare disease pharmaceutical company with its market leading product, Acthar Gel

    Edgemont Capital Partners advises Questcor Pharmaceuticals on the sale of its Nascobal® product line to QOL Medical

    Questcor Pharmaceuticals, Inc. (AMEX:QSC), a specialty pharmaceutical company that develops and commercializes novel therapeutics for the treatment of neurological disorders, today announced the completion of a transaction to divest its non-core pharmaceutical products, in accordance with its new central nervous system (CNS) strategy. Questcor completed the sale of its Nascobal(R), Ethamolin(R) and Glofil(R)-125 products to QOL Medical LLC for $28.3 million, plus the assumption by QOL of the obligation to pay Nastech Pharmaceutical Company Inc. (NasdaqNM: NSTK) $2 million on the issuance by the US Patent and Trademark Office of a patent on Nascobal Nasal Spray.

    “This is a pivotal event in our previously-announced plans for transforming Questcor into a true CNS-focused specialty pharmaceutical company,” stated James L. Fares, President and CEO of Questcor. “This transaction raises significant capital for Questcor for future business-building activities centered in the Neurology field, while avoiding any shareholder dilution. Questcor personnel can now begin focusing exclusively on supporting H.P. Acthar(R) Gel and building Questcor’s CNS portfolio.”

    Through the remainder of 2005, Questcor will continue focusing its sales and marketing efforts on promoting H.P. Acthar Gel to neurologists. In order to expand its CNS portfolio, Questcor is continuing to evaluate opportunities to acquire currently marketed products and to build a pipeline of commercially attractive development opportunities. Questcor expects to provide further updates on these activities by the end of 2005.

    Edgemont Capital Partners served as exclusive advisor to Questcor Pharmaceuticals, Inc.

    About Questcor
    Questcor Pharmaceuticals, Inc.(R) (AMEX:QSC) is a specialty pharmaceutical company that develops and commercializes novel therapeutics for the treatment of neurological disorders. Questcor currently markets H.P. Acthar(R) Gel (repository corticotropin injection), an injectable drug indicated for the treatment of exacerbations associated with Multiple Sclerosis. For more information, please visit www.questcor.com.

    About QOL
    QOL Medical LLC is a specialty pharmaceutical company dedicated to improving quality of life for the patients we serve, their families and caregivers. QOL Medical currently markets Sucraid (sacrosidase) oral solution. For more information, please visit www.qolmed.com.

    CONTACT:

    At Questcor Pharmaceuticals, Inc.
    James L. Fares, Chief Executive Officer
    Phone: 510-400-0700

    At Edgemont Capital Partners
    David K. Blume, Managing Director
    Phone: 212-867-8935 Fax: 212-214-0911

    Jeff B. Swearingen, Principal
    Phone: 212-867-8935 Fax: 212-937-3816

  • TRANSACTION OVERVIEW
    acquired by
    September 2005
    • MedSN
    • Broad Exclusive Sale
    • Santa Monica, CA
    • Dennis Bonilla, CEO / Delphi Ventures
    • Edgemont Capital Partners acted as exclusive financial advisor to MedSN in its sale to Indegene
    • Confidential
    • MedSN is leading digital healthcare education company

    Edgemont Capital Partners advises MedSN on merger with Indegene

    MedSN, Inc., a leading medical education, sales training, and marketing services provider based in the United States, today announced that it has merged with the Indegene group of companies, the preeminent medical education, training, and marketing services provider in India and Asia. The combined companies will continue to operate in the United States as Medsn, Inc.

    The newly merged firms bring to the fore proven development and delivery capabilities; a global talent pool exceeding 200, including more than 60 physicians, pharmacists, and allied health care professionals; and geographic coverage in the biggest and fastest-growing markets, with offices in Los Angeles, Jersey City, Chicago, Philadelphia, Bangalore, New Delhi, Mumbai, and Singapore. Medsn will now leverage the capabilities of its global workforce to deliver unprecedented quality in a timely and cost-effective manner to its pharmaceutical, biotechnology, and medical device customers in the United States. The merger will also significantly enhance Medsn’s ability to support the launches of its customers’ products worldwide.

    “As our customers continue to expand their global presence in India and Asia,” says Dennis Bonilla, President and CEO of Medsn, “our newly forged partnership with Indegene will enable our firm to better address those customers’ strategic needs. While some companies have initiated off-shoring partnerships, this is the first and only example of two companies merging that have similar go-to-market strategies, are both market leaders in their geographies, and are both focused exclusively on one vertical, healthcare. Medsn and Indegene have combined their expertise for the past two years and have refined a delivery model that will significantly improve value to our clients. We are now in a position to drive global innovation, development, and delivery on a 24/7 basis to support the key customer needs of quality, cost, and speed to market. The combined teams of Indegene and Medsn, with their strong customer relationships in their respective geographies, will provide a solid foundation for growing a world-class company.”

    “We are pioneering a unique model for providing medical education and marketing services that will leverage delivery capabilities and physician relationships from multiple geographies,” adds Dr. Rajesh Nair, President and CEO of Indegene. “With a footprint that currently spans the United States, Southeast Asia, and India, the Indegene/Medsn combination is poised to fundamentally change the dynamics of the industry.”

    “We see this transaction as a key step toward establishing a world-class pharmaceutical and medical device services firm,” concludes Sriram Nadathur, Director of Nadathur Fareast, a leading private equity firm and investor in Indegene Group. “The Medsn-Indegene merger represents an important step in our plan to create a consortium of global companies ranging from drug discovery to pharmaceutical marketing that are dominant in their space. We believe that this approach will allow us to generate significant value.”

    Edgemont Capital Partners served as exclusive adviser to MedSN.

    About Medsn

    Medsn is a premier medical education and marketing company that designs and implements customized interactive educational programs for the pharmaceutical, medical device, biotechnology, and health care industries. Medsn employs a multidisciplinary staff of physicians, marketing experts, industry executives, medical illustrators, and technology specialists — all with unique expertise in effectively merging interactive multimedia technologies with traditional educational methods — to develop high-impact programs that influence the behavior of physicians and patients as well as pharmaceutical and medical device sales representatives. The company is supported by key academic advisers at leading institutions as well as by experts in the fields of sales and marketing, communications, and learning.

    For more information, visit www.medsn.com

    About Indegene Group

    Indegene is a global provider of knowledge-intensive services that span a full spectrum of integrated scientific promotions, medical education, and business analytical solutions for pharmaceutical, medical device, and health care organizations. Indegene has offices throughout India as well as subsidiaries in Singapore and the United States. The firm boasts a highly specialized team of physicians and medical professionals, content developers, analysts, brand managers, and medical communication experts. Indegene’s pioneering global delivery model for pharmaceutical services leverages its multi-geography, multimarket advantage to deliver medical content and communication services that provide significantly higher return on investment and shorter delivery time for clients.

    For more information, visit www.indegene.com and www.indegeneusa.com

    About Nadathur Group

    Nadathur is a Bangalore, India–based private equity firm established by N. S. Raghavan, Founder and Former Joint Managing Director of Infosys (NASDAQ – INFY). Nadathur is focused on the life sciences, aerospace/engineering services, and IT domains. The firm supports a portfolio of more than 16 companies that are engaged in leading-edge technologies, knowledge-intensive domains, and IP creation. Through funding acquisitions and globalization initiatives, the firm is building market-dominant consortia of companies. Nadathur Fareast is the Singapore-based investment arm that facilitates expansion (both organic and inorganic) of portfolio companies.

    For more information, visit www.nadathur.com

    Contact

    Dennis Bonilla
    Medsn, Inc.
    310.253.7223
    dennis.bonilla@medsn.com

    Dr. Rajesh Nair
    Indegene, Inc
    703.946.1730
    rajesh@indegene.com

    David K. Blume
    Managing Director
    Edgemont Capital Partners
    Phone: 212-867-8935 Fax: 212-214-0911

  • TRANSACTION OVERVIEW
    licensed US rights to Oxcarbazepine MR to
    July 2005
    • Desitin Arzneimittel GmbH
    • Exclusive Partnering Process
    • Hamburg, Germany
    • Martin Zentgraf, CEO / Family Foundation
    • Edgemont Capital Partners acted as exclusive financial advisor to Desitin Arzneimittel GmbH in its partnering of exclusive U.S. rights to its development stage product Oxcarbazepine MR to Jazz Pharmaceuticals
    • Confidential
    • Desitin Arzneimittel GmbH is a leading developer and marketer in selected European countries of central nervous system (CNS) prescription pharmaceuticals

    Desitin Retains Edgemont Capital Partners as Exclusive Financial Advisor And Representative

    Desitin Arzneimittel GmbH and Edgemont Capital Partners today announced that Desitin has engaged Edgemont as its exclusive financial advisor and representative. Edgemont will work to secure a U.S. commercialization partner for the Company’s novel, once- daily, sustained release oral formulation of oxcarbazepine. Oxcarbazepine is currently marketed in the U.S. exclusively by Novartis under the brand name Trileptal(tm) as a twice-a-day therapy for the treatment of epilepsy, and had U.S. sales of $212 million in 2002.

    “We are excited at the prospect of pursuing this novel drug as our first initiative to enter the U.S., the world’s leading pharmaceutical market. We believe that our formulation may have significant clinical benefits over the existing formulation, and as a result would offer a substantial commercial opportunity,” stated Desitin’s board member Martin Zentgraf. “We are the only company other than Novartis with experience marketing oxcarbazepine products worldwide; we have achieved leading market shares in our key European markets with our existing oxcarbazepine brands Timox(tm) and Apydan(tm). However, we believe that we will achieve greater success for this exciting product in the U.S. market, once approved, by working with a partner on its’ commercialization. We believe that Edgemont’s expertise makes them an excellent choice to pursue potential partnerships on our behalf.” Oxcarbazepine, a 10-keto analogue of carbamazepine, is the first in a new class of high potential anti-epileptic agents. It is effective in treating partial seizures with or without secondary generalization, both in mono and add-on therapy. In addition, Novartis is currently conducting clinical trials to evaluate the potential utility of Trileptal(tm) in treating neuropathic pain and bipolar disorders. Oxcarbazepine has favorable pharmacological properties, both in efficacy and safety, compared to its precursor carbamazepine. Both oxcarbazepine and its metabolite elicit anticonvulsant activity.

    Desitin’s oxcarbazepine sustained release formulation was developed in-house by the Company’s own researchers, and is in late-stage clinical trials in Europe. A marketing authorization is expected in the first European Community (EC) Member State in 2006.

    “This novel, proprietary formulation provides us a significant opportunity to capitalize on our oxcarbazepine development expertise, expanding our CNS franchise and laying the foundation for future initiatives in the U.S. market,” commented Holger Koehler, Desitin’s Manager for late-stage clinics and new business. “It also represents the next phase of our corporate strategy of leveraging our drug development expertise to pursue larger commercial opportunities outside our existing markets, particularly in the U.S.”

    Desitin Arzneimittel GmbH is a Hamburg-based specialty pharmaceutical company focused on central nervous system (CNS) disorders. Founded in 1919, Desitin has a long history of CNS pharmaceutical product innovation, and is a leading European developer, manufacturer, marketer and distributor of prescription pharmaceuticals for the treatment of epilepsy and Parkinson’s disease. Desitin is the market leader for anti- epileptics in Germany.

    Edgemont Capital Partners (New York) is a specialty life sciences investment banking and advisory firm that provides mergers and acquisitions advisory, capital raising and pharmaceutical product partnering services to emerging and mid-sized healthcare companies.

    www.desitin.de    www.neuronews.de    www.edgemontcapital.com

    CONTACT:

    At Edgemont Capital Partners

    David K. Blume, Managing Director
    Phone: 212-867-8935 Fax: 212-214-0911

    Jeff B. Swearingen, Principal
    Phone: 212-867-8935 Fax: 212-937-3816

  • TRANSACTION OVERVIEW
    sold exclusive worldwide rights to Twinject to
    July 2005
    • Hollister-Stier Laboratories
    • Broad Exclusive Sale
    • Spokane, WA
    • Anthony Bonanzino, PhD, CEO / Windward Capital Partners
    • Edgemont Capital Partners acted as exclusive financial advisor to Hollister-Stier Laboratories in the sale of its exclusive rights to TwinJect Epinephrine Auto-Injector to Verus Pharmaceuticals
    • Confidential
    • Hollister-Stier Laboratories is a leading allergy products provider and contract manufacturer for fill and finish of lyophilized and other specialty preparation pharmaceuticals

    Edgemont Principals’ Relevant Transaction Experience

    Case Study: Twinject

    Edgemont recently advised Hollister-Stier Laboratories (“Hollister”) and its equity owner, Windward Capital Partners, on the successful out-licensing of Twinject, a product for the treatment of anaphylactic shock currently awaiting final FDA approval.

    • Edgemont provided a strategic review of Hollister’s businesses and recommended a tactical plan to maximize Windward’s ROI
      • Hollister’s strategic focus is on the contract manufacturing of sterile injectables
      • Twinject was a non-core product held over from Bayer’s ownership of Hollister
      • Hollister had virtually no sales and marketing infrastructure to successfully launch the product into the allergist, primary care and pediatric markets
    • Future acquirors of the contract manufacturing facility would ascribe a low value to Twinject
    • Twinject would appeal to a select group of specialty pharmaceutical acquirors
    • Edgemont prepared an information memorandum and approached over 50 pharmaceutical companies, generating written indications of interest from four firms
    • Transaction provides Hollister with an attractive contract manufacturing arrangement for the long term
      • By creating a competitive dynamic, the winning bidder was compelled to increase its bid by almost 100% from its initial indication
      • Tremendous value will be realized by Hollister’s remaining business as a result of the terms of the manufacturing contract and the acquiror’s ability to drive volume with one of the largest sales forces in the allergy market

    Edgemont Capital Partners advises Hollister-Stier Laboratories on the divestiture of its Twinject™ allergy product line to Verus Pharmaceuticals

    Verus Pharmaceuticals, Inc., a pediatric-oriented company dedicated to identifying, developing and delivering solutions to address the unmet medical needs of children and those who care for them, today announced it has acquired exclusive, worldwide rights to Twinject™ from Hollister-Stier Laboratories LLC. Twinject, a novel epinephrine auto-injector indicated for the emergency treatment of severe allergic reactions (anaphylaxis), was approved by the U.S. Food and Drug Administration (FDA) in 2003; two dosages are now approved for self-administration (0.3 mg and 0.15 mg). In addition to Twinject, Verus has acquired rights to other intellectual property and assets, including complementary and next generation device designs and on-going development programs.

    “There are significant unmet medical needs for those individuals at risk for anaphylaxis and, unfortunately, no advancements in self-administered treatment options have been commercialized in the U.S. since the early 1980s,” said Robert W. Keith, President and Chief Operating Officer of Verus. “Twinject is the first and only product approved by the FDA that contains two doses of epinephrine in a single device. This is an important feature of Twinject, as published studies have demonstrated that more than one dose of epinephrine may be required in many situations to properly address the allergic reaction, with the second dose often needed within 5-10 minutes after the first dose. As such, we are eager to bring this novel product line to market and are committed to working closely with patients, caregivers, and advocacy groups to develop additional products that address other unmet medical needs for those at risk.”

    “The acquisition of Twinject allows Verus the opportunity to establish a leadership position in an attractive, high growth market,” said Todd C. Davis of Paul Royalty Fund. “We look forward to working with the Verus management team to launch Twinject and to build a comprehensive anaphylaxis franchise on a global basis.”

    Edgemont Capital Partners served as exclusive adviser to Hollister -Stier Laboratories, LLC.

    About Anaphylaxis
    Anaphylaxis is a severe, life-threatening systemic allergic reaction triggered by exposure to one or more various antigens, including foods, insect stings, drugs, and latex products. Up to 43 million people in the U.S. alone are at risk for anaphylactic episodes, and underlying incidence rates are expected to continue increasing in future years. Up to eight percent of children have food allergies, with allergies to peanuts and tree nuts among children having doubled in the past five years. The timing, location, pattern (including onset, severity and length) and specific treatment requirements for each future anaphylactic episode cannot be predicted in advance.
    About Verus
    Verus Pharmaceuticals is dedicated to improving the lives of children and those who care for them. Verus is building a portfolio of products for the unmet medical needs of children through acquisitions and alliances, with an initial focus on the treatment of asthma, allergies, and related diseases and conditions. Verus is differentiated by its pediatric orientation and its strong financial position and experienced management team, which allows the company to capitalize on an extensive network to build its product portfolio and pursue complementary transactions. The company’s rigorous, disciplined approach to strategic decision-making and core competencies in development and commercialization is expected to provide significant value to its partners. More information about Verus is available on the company’s website at www.veruspharm.com.

    CONTACT:

    At Verus Pharmaceuticals, Inc.
    Robert W. Keith, President and Chief Operating Officer
    Phone: 858-436-1615 Email: rkeith@veruspharm.com

    At Edgemont Capital Partners
    David K. Blume, Managing Director
    Phone: 212-867-8935 Fax: 212-214-0911

    Jeff B. Swearingen, Principal
    Phone: 212-867-8935 Fax: 212-937-3816

  • TRANSACTION OVERVIEW
    acquired by
    August 2004
    • PharmAnalysis Group
    • Limited Exclusive Sale
    • Alexandria, VA
    • Laurie Hughes and Diane Simison, Co-founders & Partners
    • Edgemont Capital Partners acted as exclusive financial advisor to PharmAnalysis Group in its sale to United Biosource Corporation
    • Confidential
    • PharmAnalysis Group is a strategic reimbursement consulting firm with expertise in market access, HUB design, and health economic analysis

    Edgemont Capital Partners advises PharmAnalysis Group, Inc. on its acquisition by United BioSource Corp.

    MEDTAP® International, Inc. announced today that it has broadened its research and consultation services to include strategic reimbursement planning through the addition of PharmAnalysis Group, Inc., a provider of reimbursement planning for the pharmaceutical, biotechnology, medical device and diagnostics industries, as MEDTAP’s new Center for Pricing and Reimbursement. With this addition, MEDTAP, a global research organization specializing in outcomes research, economic evaluation and policy research, adds strategic consulting in pricing and reimbursement to its array of existing services.

    PharmAnalysis Group, Inc. is the most recent acquisition of United BioSource Corp., which also acquired MEDTAP in January 2004. “We are pleased to have PharmAnalysis join us, as part of the MEDTAP team,” said Nancy Kline Leidy, Ph.D., President & CEO of MEDTAP. “Their staff share MEDTAP’s values of excellence and commitment to client service. The addition of highly qualified experts in pricing and reimbursement strengthens MEDTAP’s ability to serve the growing and diverse needs of our clients and promotes our longer-term goal of providing comprehensive health economic and outcomes research and strategic consultation services to our clients.”

    PharmAnalysis Group, Inc. assists the pharmaceutical, biotechnology, and medical device industries with complex reimbursement issues. These services span the entire product lifecycle, from pre-launch to post-launch phases, to support client’s marketing and sales goals. “We work as partners with our clients to achieve global payer, provider and patient access for life-altering products. We have been successful in seeing our clients’ products gain market access and, as a result, they choose us to assist them again and again,” says Diane Simison, former President of PharmAnalysis. “Joining forces with MEDTAP is very exciting for us,” says Laurie Hughes, former CEO of PharmAnalysis. “There are many synergies that exist in the offerings of the two companies, so the ability to provide a full range of services to our clients is very appealing and directly responds to our clients’ needs.”

    PharmAnalysis will continue to operate out of its Arlington, Virginia headquarters under the leadership of Diane L. Simison, Ph.D. and Laurie G. Hughes, MBA, who will serve as Executive Directors of the new Center for Pricing and Reimbursement. With this addition, MEDTAP offers an even more extensive array of integrated services, including health outcomes, health economics, and now pricing and reimbursement planning.
    Edgemont Capital Partners served as exclusive adviser to PharmAnalysis Group.

    About MEDTAP International, Inc.
    MEDTAP® International, Inc. is a global health services research firm that develops and evaluates patient reported outcomes measures, conducts patient preference studies, performs economic evaluation and modeling studies, and conducts policy research and analysis for pharmaceutical companies, managed care organizations, biotechnology firms, medical device and diagnostics manufacturers, governments and professional and trade associations.
    At the heart of MEDTAP is its international team of accomplished scientists, economists, clinicians, academicians and business professionals. Founded in 1984, MEDTAP is one of the world’s original organizations which helped define and develop the field of health economics and outcomes research. Today it is the world’s largest firm solely dedicated to this dynamic field. MEDTAP is headquartered in Bethesda, Maryland, has offices in London and throughout the United States and Europe. For more information about MEDTAP, visit www.MEDTAP.com.

    About PharmAnalysis Group, Inc.
    PharmAnalysis provides research and market-driven solutions in strategic reimbursement planning for the pharmaceutical, biotechnology, medical device and diagnostics industries, offering a broad range of services throughout the product lifecycle, studying each new assignment from a both a global reimbursement and an economic perspective.

    About United BioSource Corporation
    United BioSource was formed in 2003 to deliver information-based solutions for the pharmaceutical and life sciences industries. For more information about United BioSource Corp., visit www.unitedbiosource.com or call 202-457-1900.

    CONTACT:

    At Edgemont Capital Partners

    Jeff B. Swearingen, Principal
    Phone: 212-867-8935 Fax: 212-937-3816

  • TRANSACTION OVERVIEW
    valuation services
    March 2004
    • Anosys
    • Financial Valuation
    • Menlo Park, CA
    • Philippe Maitre, CEO / VC-backed
    • Edgemont Capital Partners provided product valuation services to Anosys
    • Confidential
    • Anosys develops cancer vaccines
  • TRANSACTION OVERVIEW
    licensed the U.S. marketing rights for MT-300 to
    September 2003
    • POZEN
    • Exclusive Partnering Process
    • Chapel Hill, NC
    • John Plachetka, CEO / Public
    • Edgemont Capital Partners acted as exclusive financial advisor to POZEN in the partnering of its exclusive rights to MT-300 to Xcel Pharmaceuticals
    • Confidential
    • Pozen is a pharmaceutical development company

    Edgemont Capital Partners advises POZEN on the licensing of MT 300 to Xcel Pharmaceuticals

    POZEN Inc. (NASDAQ: POZN) and Xcel Pharmaceuticals, Inc. (Xcel) announced today that they have signed an agreement for the commercialization of MT 300(TM) that may provide a new and effective injectable treatment for patients suffering from severe migraine headaches. MT 300 is being developed as an improved and highly purified formulation of dihydroergotamine mesylate (DHE) in a convenient pre-filled syringe that is suitable for at-home use. As previously announced, POZEN submitted a New Drug Application (NDA) to the U.S. Food and Drug Administration (FDA) for marketing approval of MT 300 on December 17, 2002. The application is currently under review at the FDA.

    Under the terms of the agreement, Xcel will have exclusive rights in the United States to commercialize MT 300. Xcel will pay POZEN an upfront fee of $2 million and potential milestone payments of up to $8 million due upon certain future regulatory approvals and the achievement of a predetermined sales threshold on MT 300. Xcel will also pay POZEN royalties on combined sales of MT 300 and Xcel’s D.H.E. 45(R) (dihydroergotamine mesylate) Injection, once MT 300 is commercialized. Xcel markets and sells D.H.E. 45, which is packaged in glass ampoules and has been a standard of care for many years for the acute treatment of migraine. Royalty rates on the combined annual net sales of MT 300 and D.H.E. 45 will commence in the low double-digits and increase based on the achievement of predetermined net sales thresholds.

    John R. Plachetka, Pharm.D., POZEN’s Chairman, President, and Chief Executive Officer said, “We believe MT 300 is a major step forward in providing migraine sufferers with a convenient injectable product and an improved formulation of DHE. Xcel’s strong focus in migraine and dedicated neurology sales force make them the partner of choice to maximize the potential of MT 300. In addition, we created an innovative agreement, where we will receive royalties on the combined sales of MT 300 and D.H.E. 45, making it a win-win situation for both parties.”
    In two Phase III trials involving over 1,200 migraine patients, MT 300 has consistently demonstrated its effectiveness in treating migraine pain. Data from each of the trials show a statistically significant improvement in the percentage of patients achieving pain relief at two hours as well as sustained pain relief when compared to placebo. Sustained pain relief is defined as patients achieving pain relief within two hours of dosing and neither relapsing nor using rescue medicine over the next 22 hours.

    Michael T. Borer, Xcel’s President and Chief Executive Officer said, “We are very pleased to have been selected as POZEN’s commercial partner for MT 300. The addition of MT 300 significantly enhances our existing migraine franchise, consisting of Migranal(R) (dihydroergotamine mesylate) Nasal Spray and D.H.E. 45, and leverages our existing commercial infrastructure. Upon approval, MT 300 will represent a third, important, proprietary growth product in our portfolio. We plan to provide significant promotional effort for MT 300 with our 96-person field sales organization.”

    Migraine Market
    According to the National Headache Foundation, there are approximately 28 million people in the United States who suffer from migraine headaches of which approximately 4 million do not experience effective relief from first-line therapies, such as the oral triptan class of drugs, and are prime candidates for DHE. According to IMS Health’s Retail and Provider Perspective, the injectable migraine market represented approximately $214 million in 2002 U.S. sales.
    John R. Plachetka, Pharm.D., POZEN’s Chairman, President, and Chief Executive Officer will present today at the NewsMakers in the Biotech Industry Conference at 9:00 a.m. Eastern Time and discuss the MT 300 licensing agreement. The presentation will be webcast live with slides and archived on POZEN’s home page at www.pozen.com.

    About POZEN
    POZEN is a pharmaceutical company developing therapeutic advancements in a cost effective manner. Product development efforts are focused on diseases with unmet medical needs where POZEN can improve efficacy, safety, and/or patient convenience. Since its inception, POZEN has developed the largest and most advanced product pipeline in the field of migraine. In addition to the licensing agreement with Xcel, POZEN has development and commercial alliances with GlaxoSmithKline and Nycomed. The company’s common stock is traded on The Nasdaq Stock Market under the symbol “POZN”. For detailed company information, including copies of this and other press releases, see POZEN’s website: www.pozen.com.

    About Xcel Pharmaceuticals
    Xcel Pharmaceuticals, Inc. is a specialty pharmaceutical company focused on prescription products that treat disorders of the central nervous system (CNS). Xcel’s portfolio includes four marketed products, two that are used to treat epilepsy and two that are used to treat migraine, and one product candidate to treat migraine. The Company’s 96-person nationwide field sales organization promotes its products to high-prescribing epilepsy and migraine specialists. Xcel’s strategy is to increase prescription demand for its current products through targeted sales and marketing efforts, to leverage its presence in the CNS market through the acquisition of late-stage development product candidates and additional marketed products, and to develop enhancements for its current products. For more information about Xcel Pharmaceuticals, please visit www.xcelpharmaceuticals.com. For more information about Xcel’s products, please visit www.diastat.com, www.migranal.com, www.DHE45.com, and www.choosemysoline.com.

    CONTACT:

    At Edgemont Capital Partners

    David K. Blume, Managing Director
    Phone: 212-867-8935 Fax: 212-214-0911

    Jeff B. Swearingen, Principal
    Phone: 212-867-8935 Fax: 212-937-3816

  • TRANSACTION OVERVIEW
    sold the Nascobal product line to
    June 2003
    • Nastech Pharmaceutical Company
    • Broad Exclusive Sale
    • Bothell, WA
    • Steven Quay, M.D., CEO / Public
    • Edgemont Capital Partners acted as exclusive financial advisor to Nastech Pharmaceutical Company in its sale of Nascobal to Questcor Pharmaceuticals
    • Confidential
    • Nastech is leading developer of nasally delivered pharmaceuticals and provider of nasal drug delivery technology

    Edgemont Principals’ Relevant Transaction Experience

    Case Study: Nastech Pharmaceuticals

    Edgemont recently advised Nastech Pharmaceuticals (“Nastech”) on the successful sale of Nascobal®, a marketed product for the treatment of Vitamin B12 deficiency in gastrointestinal and neurology indications.

    • Nastech’s strategic and financing focus was on accessing capital to maximize the value of several products in clinical development.
      • Nastech’s stock price made equity capital an expensive source of financing
    • Edgemont provided a strategic review of Nastech’s portfolio and recommended a tactical plan to maximize the NPV of Nascobal® to Nastech
      • Nascobal® received FDA approval in 1996 for maintenance of the hematologic status of patients in remission following intramuscular vitamin B12 therapy
      • Nastech re-acquired all product, patent, trademark, licensing and regulatory rights for Nascobal® in the U.S. from Schwarz Pharma for $8.75 million in cash and notes in late 2002
    • Nastech faced challenges in capturing Nascobal®’s full value due to the limited leverage provided by a CSO ng from this page)
    • Edgemont worked closely with Nastech’s business development team and Senior Management to identify a list of attractive potential buyers and to prepare an information memorandum: Edgemont approached over 75 pharmaceutical companies in a “traditional” two-step process
      • Transaction was concluded within three months of contacting potential buyers
    • Transaction provided Nastech with over $14 million in cash within seven months of closing
      • Significant gain realized on the investment made to reacquire product rights
      • Large cash influx provided to reinvest in R&D projects and alleviated pressure to pursue dilutive equity financing
      • Highly competitive bidding process caused bidders to increase final offers over 50% from initial indications

    Edgemont Capital Partners advises Nastech Pharmaceutical Company on the sale of the Nascobal® product line

    Nastech Pharmaceutical Company, Inc. (Nasdaq: NSTK), a leader in nasal drug delivery technology, announced today that Questcor Pharmaceuticals, Inc. (Amex: QSC) is acquiring Nastech’s Nascobal(R) product, including the FDA- approved Nascobal(R) (Cyanocobalamin USP) nasal gel and the Nascobal(R) nasal spray, which is pending FDA approval. The transaction includes all Nascobal(R) intellectual property, marketing rights, inventory, trademarks, confidential know-how, contracts, and records. Edgemont Capital Partners has acted as Nastech’s investment banking advisor on this transaction.

    Under terms of the divestiture agreement, Nastech will receive up to $18.2 million, including $9 million upon signing of the agreement and an additional $5.2 million payable on or before December 31, 2003. Nastech will receive an additional $2 million upon FDA approval of its Nascobal(R) nasal spray dosage form and an additional $2 million upon the issuance of a U.S. patent for the Nascobal(R) nasal spray. At closing, Nastech and Questcor will enter into a long-term supply agreement under which Nastech will continue to manufacture Nascobal(R) at its FDA-approved, cGMP manufacturing facility in Hauppauge, New York, and in Bothell, Washington upon FDA approval of that facility.

    “The sale of Nascobal(R) will significantly strengthen our balance sheet and enable us to focus on our core drug delivery programs,” stated Steven C. Quay, M.D., Ph.D., Chairman, President, and Chief Executive Officer of Nastech. “Nastech will complete final development of the Nascobal(R) nasal spray dosage form and file an NDA later this year.”
    “Nastech did an outstanding job in reacquiring Nascobal(R) from Schwarz Pharma, re-launching the product, and achieving significant sales growth over the past two quarters,” stated Charles J. Casamento, Chairman, President, and Chief Executive Officer of Questcor. “Our purchase of Nascobal(R) will allow the product to be further optimized in the marketplace by an organization with marketing and sales resources focused on Neurology and Gastroenterology. Patients with MS and Inflammatory Bowel Disease are often Vitamin B-12 deficient.”

    Nascobal(R) has been approved and marketed in the U.S. since 1997 for the treatment of various Vitamin B-12 deficiencies and has a proven track record of safety and efficacy. In July 2002, the FDA approved a labeling supplement to Nastech’s NDA for its Nascobal(R) nasal gel dosage form stating that Nascobal(R) can be used in patients with Crohn’s Disease, HIV/AIDS, and Multiple Sclerosis as well as other malabsorptive conditions that can result in Vitamin B-12 deficiency. Symptoms of Vitamin B-12 deficiency include fatigue, weakness, sore tongue, forgetfulness, weight loss, lack of coordination and difficulty walking. Left untreated, Vitamin B-12 deficiency may lead to anemia, intestinal problems, and irreversible nerve damage.
    In September 2002, Nastech reacquired all U.S. product, patent, trademark, licensing and regulatory rights for Nascobal(R) from Schwarz Pharma. Under the terms of the acquisition agreement, Nastech agreed to pay Schwarz Pharma a total of $8.75 million plus interest in installments over a four-year period, including an upfront payment of $1.5 million. With the proceeds received from the Questcor purchase of Nascobal(R), the Company will pay its debt to Schwarz Pharma of approximately $7 million and, concurrently, enter into a new secured revolving credit facility with Wells Fargo Bank for approximately $7 million.

    “We view this agreement with Questcor as a very favorable strategic financial transaction for Nastech,” commented Gregory L. Weaver, Chief Financial Officer of Nastech. “The sale of Nascobal(R) will eliminate the $8 million Nascobal(R) intangible asset from our balance sheet and the related asset purchase amortization, along with all Nascobal(R)-related cost of goods sold and sales and marketing expenses.”

    Edgemont Capital Partners served as exclusive adviser to Nastech Pharmaceuticals.

    ABOUT QUESTCOR
    Questcor Pharmaceuticals, Inc. is a specialty pharmaceutical company that markets and sells brand name pharmaceutical and ethically promoted healthcare products. Questcor currently markets five products in the U.S.: HP Acthar(R) Gel, an injectable drug that is commonly used in treating patients with infantile spasm and is approved for the treatment of certain CNS disorders with an inflammatory component including the treatment of flares associated with Multiple Sclerosis; Ethamolin(R), an injectable drug used to treat enlarged weakened blood vessels at the entrance to the stomach that have recently bled, known as esophageal varices; Glofil(R)-125 and Inulin in Sodium Chloride, which are both injectable agents that assess how well the kidney is working by measuring glomerular filtration rate, or kidney function; and VSL#3(TM), a patented probiotic marketed as a dietary supplement, to promote normal gastrointestinal (GI) function. As part of a strategy to develop its products globally, Questcor has entered into 35 contractual relationships with public and private companies including: Ahn-Gook Pharmaceuticals of Korea; Aventis Pharmaceuticals Inc. of Bridgewater, NJ; Beacon Pharmaceuticals, Ltd. of Tunbridge Wells, Kent, United Kingdom; CSC Pharmaceuticals Handels GmbH of Vienna, Austria; Dainippon Pharmaceutical Co. Ltd., of Osaka, Japan; Orphan Australia of Melbourne, Australia; Rigel, Inc. of South San Francisco, CA; Tularik, Inc. of South San Francisco, CA and VSL Pharmaceuticals of Ft. Lauderdale, Fla.

    ABOUT NASTECH
    Nastech Pharmaceutical Company Inc. is a leader in nasal drug delivery. The Company is developing a platform technology for delivering both small and macro-molecules intra-nasally which can lead to greater drug efficacy, speed of action, safety, and patient compliance. Nastech has also shown great promise in exploiting the nasal passages where there is no blood brain barrier and drugs can be delivered directly to the Central Nervous System. Nastech has a diverse product portfolio across multiple therapeutic areas, including products targeted for the treatment of male and female sexual dysfunction, pain management, cancer and hepatic illnesses, growth deficiency and multiple sclerosis.

    CONTACT:

    At Edgemont Capital Partners

    David K. Blume, Managing Director
    Phone: 212-867-8935 Fax: 212-214-0911

    Jeff B. Swearingen, Principal
    Phone: 212-867-8935 Fax: 212-937-3816

  • TRANSACTION OVERVIEW
    strategic advisory
    December 2002
    • Scion Companies / Prasco
    • Financial Valuation & Strategic Advisory
    • Cincinnati, OH
    • E. Thomas Arington, Founder & CEO
    • Edgemont Capital Partners provided strategic and financial advisory services to Scion Companies / Prasco
    • Confidential
    • Scion is a generics pharmaceutical company and Prasco is the leading authorized generics company
  • TRANSACTION OVERVIEW
    strategic advisory
    November 2002
    • Simstar Internet Solutions
    • Financial Valuation & Strategic Advisory
    • Hamilton, NJ
    • David Reim, Founder & CEO
    • Edgemont Capital Partners provided strategic and financial advisory services to Simstar Internet Solutions
    • Confidential
    • Simstar Internet Solutions is a leading interactive healthcare marketing services company
  • TRANSACTION OVERVIEW
    valuation services
    October 2002
    • Xanodyne Pharmaceuticals
    • Financial Valuation & Strategic Advisory
    • Cincinnati, OH
    • Stefan Antonnson, CEO / Union Springs Capital
    • Edgemont Capital Partners provided product valuation and financial advisory services to Xanodyne Pharmaceuticals in connection with its Series C financing
    • Confidential
    • Xanodyne is a specialty pharmaceuticals company
  • TRANSACTION OVERVIEW
    acquired by
    June 2002
    • CroMedica International
    • Broad Exclusive Sale
    • Victoria, BC
    • Erich Mohr, PhD, Co-founder & CEO and Ken Newport, Co-founder & COO
    • Edgemont Capital Partners acted as exclusive financial advisor to CroMedica International in its sale to PRA International
    • Confidential
    • CroMedica International is a global contract research organization (CRO)

    Edgemont Capital Partners advises CroMedica, Inc. on merger with PRA International, Inc.

    PRA International Inc, a pharmaceutical research industry leader in contract clinical development services, today announced that it has agreed to a merger with CroMedica International, Inc, a worldwide clinical research organization (CRO) headquartered in Canada. The combined companies will operate under the PRA International name, forming one of the top five global clinical drug development organizations.