Healthcare Industry News: Horizon Pharma
News Release - February 4, 2016
GTCR Announces Third Partnership with Ed Fiorentino to Form TerSera(TM) TherapeuticsSuccessful pharmaceutical veteran to build new company through acquisitions and organic growth
CHICAGO, Feb. 4, 2016 -- (Healthcare Sales & Marketing Network) -- GTCR, a leading private equity firm, announced today that it has entered into a partnership with Ed Fiorentino to form TerSera Therapeutics LLC ("TerSera"). The new company will focus on acquiring specialty pharmaceutical companies and products as part of a strategy to build a leading company in the industry. Initial target acquisition opportunities include products which are already approved or currently marketed, as well as late-stage development assets. GTCR's investment in TerSera will be made from GTCR Fund XI, a private equity fund with $3.85 billion of limited partner equity capital commitments. Mr. Fiorentino will serve as Chairman and Chief Executive Officer of TerSera.
Prior to his role at Crealta, Mr. Fiorentino was the Chief Executive Officer of Actient Pharmaceuticals LLC, a specialty pharmaceutical company established in partnership with GTCR. Actient built a growing and diversified portfolio of commercial products and pipeline programs focused on the treatment of urological conditions before ultimately being acquired by Auxilium Pharmaceuticals. Prior to Actient, Mr. Fiorentino was a senior executive and 22-year veteran of Abbott Laboratories.
"We are very excited to once again partner with Ed," said GTCR Managing Director Dean Mihas. "As a result of our two previous partnerships with Ed and his team, we have tremendous respect for their strategic vision and operational abilities. Ed's industry experience and expertise across multiple therapeutic areas make him an ideal partner as GTCR commits to our seventh platform in the pharmaceutical industry."
"I am thrilled about the opportunity to work with GTCR for a third time and build a new, high growth pharmaceutical company," said Mr. Fiorentino. "GTCR was an ideal partner to Crealta and Actient, providing exceptional leadership during company formation, enabling growth, and helping to successfully execute our strategy. I look forward to this next partnership with GTCR to build TerSera into a leading company in the industry."
"GTCR has deep sector expertise in the pharmaceutical industry," added Ben Daverman, Principal at GTCR. "Drawing on our track-record and continued focus in the sector, we believe there are a number of compelling industry trends that we are excited to capitalize on with Ed. We are actively looking for acquisitions, ranging from smaller specialty opportunities as well as large, transformative transactions. Ed and his team provide us a unique position to evaluate and pursue a wide range of assets."
Founded in 1980, GTCR is a leading private equity firm focused on investing in growth companies in the Financial Services & Technology, Healthcare, Technology, Media & Telecommunications and Growth Business Services industries. The Chicago-based firm pioneered The Leaders Strategy™ – finding and partnering with management leaders in core domains to identify, acquire and build market-leading companies through transformational acquisitions and organic growth. Since its inception, GTCR has invested more than $12 billion in over 200 companies. For more information, please visit www.gtcr.com.
About TerSera Therapeutics
TerSera Therapeutics is a specialty pharmaceutical company focused on therapeutics to improve patient outcomes. The company was formed to acquire specialty pharmaceutical companies and products with a focus on select physician specialties. For more information about TerSera Therapeutics, please contact (312) 953-3305.
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