PharmaCord Announces Completion of Permira Investment
Investment will enable PharmaCord to accelerate its technology roadmap and expand into additional commercialization service lines for its life sciences clients.
JEFFERSONVILLE, Ind., September 26, 2024 (Newswire.com) - PharmaCord LLC (“PharmaCord” or the “Company”), a leading provider of patient services and commercialization solutions to life sciences companies, today announced that funds advised by Permira, the global investment firm, have successfully completed their investment in PharmaCord. Following the transaction, Founder and Chief Executive Officer, Nitin Sahney, and the management team will continue to lead PharmaCord and remain significant investors in the Company alongside the Permira funds.
Nitin Sahney, Founder and CEO of PharmaCord, said: "We are pleased to reach this critical milestone in our Company’s history. As we progress forward, I am confident this partnership will further enhance the client experience through the introduction of new technology capabilities and the expansion into new service categories. I am proud of how far we have come to date and excited by the opportunity to further accelerate our growth trajectory alongside our new partners at Permira, who I know share the same objectives.”
Permira brings an extensive track record in the pharma and pharma services sector to PharmaCord which, alongside its deep industry-specific knowledge and strong network in the healthcare sector, leave it well-positioned to support PharmaCord through its next phase of growth. With the investment from the Permira funds, the Company will be able to focus on achieving its strategic ambitions through business expansion and technology transformation.
Jon Maschmeyer, Partner at Permira, added: "We’re delighted that the deal has now closed and are looking forward to getting to work with Nitin and his exceptional team. The demand for specialty pharmaceuticals and the complexity of therapeutic treatments continues to rise, and as a result, the need for PharmaCord's comprehensive offerings has never been more crucial. This, combined with the Company’s commitment to its customers and enhancing patient outcomes, makes this a very exciting time for the business. We’re grateful to be on the journey with PharmaCord and look forward to bringing to bear the full resources and network that Permira has to offer to help the PharmaCord team accelerate growth through this next phase.”
Centerview Partners acted as financial advisor to PharmaCord and Willkie Farr & Gallagher acted as PharmaCord’s legal counsel. Jefferies LLC and Leerink Partners acted as financial advisors to Permira and Skadden, Arps, Slate, Meagher & Flom LLP acted as Permira’s legal counsel.
About PharmaCord
As a patient services provider, PharmaCord works on behalf of drug manufacturers to simplify the patient therapeutic journey. Through a combination of its proprietary PharmaCord Lynk™ technology suite, exceptionally talented team members and its non-commercial pharmacy PharmaCord Scripts™, PharmaCord helps patients have a better experience accessing and adhering to their critical medications. To learn more about how PharmaCord improves commercial outcomes for life sciences companies, visit pharmacord.com.
About Permira
Permira is a global investment firm that backs successful businesses with growth ambitions. Founded in 1985, the firm advises funds across two core asset classes, private equity and credit, with total committed capital of approximately €80bn. The Permira private equity funds make both long-term majority (Buyout) and minority (Growth Equity) investments in four key sectors: Technology, Consumer, Healthcare and Services.
The Permira funds have an extensive track record investing in healthcare, having partnered with 19 companies in the specialty pharma, medical devices and strategic outsourcing spaces, as well as in the high-growth tech-enabled healthcare services space. The Permira funds have previously supported and helped scale Cambrex, LSNE, I-Med Radiology, Ergomed, Kedrion Biopharma, and other healthcare leaders.
Permira employs over 500 people in 16 offices across Europe, the United States and Asia. For more information, visit www.permira.com or follow us on LinkedIn.
Source: PharmaCord
