September 27, 2018
GREENWICH, CT and MALVERN, PA – Great Point Partners (“GPP”), a Greenwich-based private investment firm focused exclusively on the health care industry, is pleased to announce that it has signed a definitive agreement to sell GPP II portfolio company, Clinical Supplies Management (“CSM”) after tripling revenue in less than two years. CSM is a leading provider of clinical trials drug packaging, labeling and logistics solutions to the global life science, pharmaceutical and biotechnology industries.
Rohan Saikia, Managing Director at GPP commented, “We are very proud of what we accomplished with CEO Scott Houlton and the entire CSM team in our two years of ownership. Our theme based investment approach, extensive executive network and internal sourcing team allowed us to recruit Scott Houlton as the CEO prior to our initial investment and complete two strategic European tuck-in acquisitions within the first three months of our ownership. These two tuck-in acquisitions transformed CSM into a global company that was better positioned to win new business and significantly increase sales.”
“Great Point’s expertise in pharmaceutical services and support for tuck-in acquisitions from sourcing through integration were critical components of our success, enabling us to build a high growth global company in a short period of time,” Scott Houlton, Chief Executive Officer at CSM, stated. “Additionally, the talented Board of Directors recruited by Great Point offered invaluable insight and helped shape our strategy. This has been a highly rewarding partnership for the CSM team.”
“Due to Great Point’s extensive experience in pharmaceutical services and our dedicated acquisition sourcing team, we were able to identify tuck-in acquisition targets and potential areas of growth prior to our acquisition of CSM in 2016. With Scott’s leadership, these acquisitions helped us execute our strategy quickly and efficiently. We transformed CSM from a company with operations at two U.S. sites only into a global company with operations also in Belgium and Germany that resulted in a dramatic acceleration of growth,” added Stephen Weaver, Senior Vice President at Great Point Partners.
About Great Point Partners
Great Point Partners (“GPP”), founded in 2003 and based in Greenwich, CT, is a leading health care investment firm with approximately $1.1 billion of equity capital currently under management and 28 professionals, investing in the United States, Canada, and Western Europe. GPP is currently making new private equity investments from GPP II. Great Point manages capital in private (GPP I, $156 million and GPP II, $215 million of committed capital, and GPP III with a target of $250 million in committed capital) and public (BioMedical Value Fund strategy, approximately $750 million) equity funds. Great Point Partners has provided growth equity, growth recapitalization, and management buyout financing to more than 100 growing health care companies. The private equity funds invest across all sectors of the health care industry with particular emphasis on biopharmaceutical services and supplies, outsourcing and alternate site care, pharmaceutical infrastructure and information technology enabled businesses. The firm pursues a proactive and proprietary approach to sourcing investments and tuck-in acquisitions for its portfolio companies. Reach Great Point at 203-971-3300 or www.gppfunds.com.
About Clinical Supplies Management
Since 1997, CSM has been providing innovative solutions to meet the complex clinical supply challenges pharmaceutical and biotechnology companies face. CSM manages the clinical supply chain for hundreds of satisfied clients worldwide, providing services that keep clinical trials on time and on budget. CSM offers a full suite of cGMP-compliant services, continually delivering quality supplies to clinical sites and patients around the world. From Phase I all the way to large Phase III projects, CSM has the flexibility to meet the needs of all drug trials regardless of size and scope. CSM’s customer-centric approach, revolutionary processes and state-of-the-art clinical services increase efficiencies, reduce costs and improve outcomes for clinical trials. Some of CSM’s clinical services include packaging and labeling, storage and global distribution, controlled drug services, clinical supplies consulting, as well as returns, reconciliation and destruction. Reach CSM in Malvern, PA at 866-487-3276 or www.csmondemand.com.