Hot Life Science Investor Mandate 2: PE Group with Available Dry Powder Seeks CROs – June 20, 2013

~ Next Phase Admin
A private equity group with offices in the US and Canada recently closed its 3rd fund at around $300 million, and is seeking new life science firms to invest in. The group currently has over $500 million in total assets under management. Although they have no set timeframe to make allocations, they do have a good amount of dry powder on hand, and would make an allocation within the next couple of quarters if a compelling opportunity were identified. They typically write equity checks ranging from $10 million to $30 million.

Currently, the group is most interested in the medtech and biotech R&D services space. Within the medtech space, the firm is very opportunistic, and will look at companies that are developing any kind of device. Within the biotech R&D services space, the firm is particularly seeking partnerships with contract research organizations (CROs).

The group executes recapitalization, growth equity, and buyout transactions. They are currently only looking for companies that have products on the market within the medtech space, and in the biotech R&D sector, they prefer companies that are cash-flow positive. With that being said, the firm is looking for firms whose EBITDA exceeds $4 million.

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