NEW ORLEANS, Nov. 11, 2014 /PRNewswire/ -- Renaissance RX, a personalized medicine company that is changing the way physicians manage medications and the health of their patients, announced today that TPG Growth, the middle market and growth equity investment platform of TPG, a global private investment firm, has made a significant investment in the company, acquiring a minority stake. Terms of the transaction were not disclosed.
Renaissance RX provides tools that make an unprecedented level of individualized medical care possible. The company specializes in pharmacogenetic testing, which identifies how patients respond to medications based on their unique genetic makeup. The information Renaissance RX provides allows physicians to prescribe medications that will work most effectively for each person.
"This investment will not only support us in reaching more patients with improved healthcare testing, but will also strengthen our ability to develop new advances in individualized medicine," said Dr. Tarun Jolly, founder and CEO of Renaissance RX. "We look forward to working with TPG Growth and leveraging its deep healthcare sector experience. Just as they have assisted similar young companies grow, we believe they can help us expand our leading edge services, making it possible for each patient's medication management to be adjusted to their own distinct DNA."
"Renaissance RX is a leader in the emerging pharmacogenetic testing industry, and we are excited to work with the Company as it advances the practice of tailoring healthcare to a patient's unique DNA," said Matthew Hobart, Partner at TPG Growth. "Personalized medicine using genetic testing is at the forefront of patient care, helping physicians choose the right medicines and dosages and improving outcomes."
Renaissance RX has become one of the world's leading pharmacogenetic testing laboratories, processing thousands of tests daily and providing testing in 43 states across the country.
About Renaissance RX
Personalized medicine is transforming the world by allowing physicians to develop treatment plans based on information that is unique to each patient, including health history, environment, and genetic makeup. Renaissance RX is pioneering this new era of health care, providing the tools that make personalized medicine possible. The laboratory offers pharmacogenetic testing and Advanced Toxicology, which produce the data that allow for a high level of individualized treatment. The lab's science builds upon decades of research in toxicology, genetics, molecular sciences, and pharmaceuticals to make an unprecedented level of precision health care possible. With its headquarters in New Orleans, Renaissance RX has grown rapidly since its founding in 2012 and is responsible for the employment of over 800 people across the US.
For more information, visit RenRX.com.
About TPG Growth
TPG Growth is the middle market and growth equity investment platform of TPG, the global private investment firm. With $3.9 billion under management, TPG Growth targets investments in a broad range of industries and geographies, utilizing leveraged buyout, growth equity, and private investment in public equity (PIPE) structures. The firm is backed by the resources of TPG, which has $66 billion of assets under management. TPG and TPG Growth have extensive healthcare experience through investments that include Immucor, IMS Health, Par Pharmaceutical Companies, Evolent Health, CardioDx, NorthStar Anesthesia, NT Pharma, Aptalis Pharma, Envision Pharmaceutical, Quintiles Transnational and Surgical Care Affiliates. TPG Growth has offices in the United States, China, India and Singapore. For more information visit www.tpggrowth.com.
SOURCE Renaissance RX
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