NEW YORK, Nov. 14, 2017 /PRNewswire/ -- Odyssey Investment Partners, LLC and its affiliates ("Odyssey") announced today that it has partnered with the management team of TrialCard (the "Company") to acquire the Company, a leading provider of full-service pharmaceutical market access solutions, from Excellere Partners. Financial terms of the transaction were not disclosed.
TrialCard, with a 17-year history of providing strategic guidance and integrated services to help customers deliver optimal patient outcomes, is one of the preeminent patient services organizations in the United States. Headquartered in Morrisville, North Carolina, the Company provides outsourced tech-enabled sales and marketing services to pharmaceutical, biotech, diagnostics, and medical device clients that help drive an improved patient experience and access for prescription medications. TrialCard operates under three business segments: Patient Affordability (co-pay savings and voucher programs), Market Access (TrialCard's hub services division), and Virtual Engagement (outbound tele-promotion and healthcare professional lead generation solutions).
Jeff McKibben, a Managing Principal of Odyssey, said: "TrialCard is a well-positioned business in a dynamic industry, led by a deep and experienced leadership team. Our investment represents a compelling opportunity to execute a multi-faceted growth strategy in an attractive market. We look forward to partnering with Mark Bouck and his team to continue building a highly valuable provider of outsourced services to pharmaceutical companies."
The TrialCard management team, including CEO Mark Bouck, will continue to lead the organization under Odyssey's ownership.
Mr. Bouck said: "We are excited to begin our new partnership with Odyssey. During the last several months, it was evident that this new relationship will provide us with an experienced partner with the expertise and capital to support our strategy and continue developing solutions for complex patient access challenges. We look forward to continuing our mission to provide innovative solutions to pharmaceutical manufacturers, providers, pharmacies and patients."
Brad Cornell, a Partner of Excellere Partners, added: "We are grateful for the opportunity to support Mark and his team in pursuit of their vision to build a leading medication adherence solutions provider. Our partnership enabled us to leverage Excellere's value creation methodology to augment TrialCard's service offering with complementary capabilities, enhance its systems and processes, and establish a scalable foundation that will position the Company to capitalize on the multitude of growth avenues in the industry. We continue to see strong tailwinds in the outsourced pharma services market, and are enthusiastic about the Company's future with Odyssey."
TrialCard Incorporated provides product access, medication adherence, and patient support services on behalf of pharmaceutical manufacturers. Founded in 2000, TrialCard has become the largest provider of patient access programs in the industry, connecting patients with over $1.7 billion in annualized branded drug savings. TrialCard holds nine U.S. patents related to the processing and marketing of patient access programs. The Company is headquartered in Morrisville, North Carolina. For more information about TrialCard, please visit http://www.trialcard.com
About Odyssey Investment Partners
Odyssey Investment Partners, LLC with offices in New York and Los Angeles, is a leading private equity investment firm with more than a 20 year history of partnering with skilled managers to transform middle-market companies into more efficient and diversified business with strong growth profiles. Odyssey makes majority controlled investments in industries with a long-term positive outlook and favorable secular trends. For further information about Odyssey, please visit www.odysseyinvestment.com.
About Excellere Partners
Excellere Partners is a Denver-based private equity firm with $1.36 billion of committed capital across Fund I, Fund II and Fund III, specializing in partnering with entrepreneurs and management teams. The firm employs a proven research-driven, top down investment strategy, and supports its entrepreneurs and management teams with a proprietary value creation process designed to enhance corporate and operational infrastructure for scalability and growth. Excellere's investments are focused on differentiated and growth oriented companies positioned to benefit from industry consolidation and favorable macro-economic and demographic trends. Excellere's targeted industry sectors include: healthcare services and products; energy, power and infrastructure services and products; industrial technology, specialty chemicals; and business services. For more information about Excellere, please visit http://www.excellerepartners.com
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SOURCE Odyssey Investment Partners, LLC