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News and Information Article
Acquisitions Enhance Bioniche Pharmas Product Portfolio and Leverage New
Manufacturing Facility
LAKE FOREST, Ill., May 23 // -- RoundTable Healthcare
Partners ("RoundTable"), an operating-oriented private equity firm focused
exclusively on the healthcare industry, announced today that its portfolio
company Bioniche Pharma Group Limited ("Bioniche Pharma") has acquired
three branded pharmaceutical products: Cystistat(TM), RIMSO-50(TM) and
Cryoserv(TM). Cystistat was purchased for CND$10 million. Financial terms
of the RIMSO-50 and Cryoserv acquisitions were not disclosed. RoundTable
and each of Bioniche Pharmas minority shareholders made additional equity
investments to fund the acquisitions.
Bioniche Pharma is a leading developer and manufacturer of injectable
pharmaceuticals. Cystistat is a patented, frontline therapy for
Interstitial Cystitis and other glycosaminoglycan ("GAG") layer
deficiencies of the bladder and was purchased from Bioniche Life Sciences,
Inc. ("BLSI"), the former parent company of Bioniche Pharma. RIMSO-50 and
Cryoserv were purchased from Edwards Lifesciences ("Edwards"). RIMSO-50 is
a leading treatment for Interstitial Cystitis in the United States and
Canada. Cryoserv is used as a stem cell preservation agent and is sold
primarily in the United States with some sales in Europe.
"We are pleased to see BPG executing so quickly on its plan to find
strategic, niche product acquisitions to take advantage of its new
manufacturing facility," said Jack L. McGinley, a Founding Partner of
RoundTable and Chairman of the Board of Bioniche Pharma. "These products
are great additions to Bioniche Pharmas portfolio. A key element of our
strategy is helping Bioniche Pharma continue to source and execute
additional product acquisitions."
"We are excited to add these products to Bioniche Pharma," said Albert
Beraldo, Chief Executive Officer of Bioniche Pharma. "RIMSO-50, Cryoserv
and Cystistat are established, brand-name products that further our
strategy of focusing on niche markets. We will bring renewed focus to these
product lines which will benefit both customers and patients."
Mr. Beraldo added, "RoundTable helped us identify the opportunities and
led the transactions to acquire these products. In just three months of
ownership they have already been instrumental in supporting and
facilitating our growth strategy and plans. With RoundTables support, we
hope to continue to execute more strategic acquisitions in the future."
RoundTables investment strategy targets companies in the healthcare
industry that fall within the expertise and experience of the firms
operating and transaction principals. Bioniche Pharma is one of the nine
platform investments that RoundTable has made since the firms formation in
2001.
RoundTables other existing platform investments include:
-- ACI Medical Devices, Inc., a leading specialty medical device
manufacturer, including vascular, womens health, urology, and
gastroenterology products. Argon Medical Devices acquired Clinical
Innovations, Inc. to form ACI Medical Devices,
-- Ascent Healthcare Solutions, the nations leading medical device
reprocessor, formed through the merger of Vanguard Medical Concepts
and Alliance Medical,
-- MedAssist, Inc., a leading outsourced provider of patient eligibility,
accounts receivable management and collections services to acute care
hospitals throughout the United States,
-- CorePharma LLC, a leading solid-dose generic pharmaceuticals company,
-- Excelsior Medical Corporation, a leading manufacturer of pre-filled
flush syringes and syringe pump systems, and
-- Instrumed International, a leading manufacturer and distributor of
premium-quality, precision surgical instruments.
RoundTables previous investments include Sabex Holdings Ltd., sold in
2004 to Sandoz for $565 million, and American Medical Instruments Holdings,
Inc., sold earlier this year to Angiotech Pharmaceuticals, Inc. for $785
million.
About RoundTable Healthcare Partners
RoundTable Healthcare Partners, Lake Forest, IL, is an
operating-oriented private equity firm focused exclusively on the
healthcare industry. RoundTable partners with companies that can benefit
from its extensive industry relationships and proven operating and
transaction expertise. The partners of RoundTable have significant
experience in managing, operating, acquiring and financing
multibillion-dollar diversified healthcare companies. RoundTable currently
manages two equity funds totaling $900 million in capital. More information
about RoundTable Healthcare Partners and its investments can be found at
http://www.roundtablehp.com .
About Bioniche Pharma Group Limited
Bioniche Pharma is a leading developer and manufacturer of injectable
pharmaceutical products. The Company sells a broad range of generic
products into the U.S. and Canadian markets. The Company also sells several
branded products in the U.S. and globally. Bioniche Pharmas products serve
both the primary care and hospital markets. The Company operates from a
state-of-the art manufacturing facility based in Galway, Ireland.
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