New York, NY, February 22, 2022 – NMS Capital (“NMS”), announced today a new executive partnership with Daniel Duffy to pursue platform investments in the outsourced pharmaceutical services industry, including clinical research, patient support services, specialty pharmacy and distribution. Initially, Mr. Duffy will join the Board of Directors of Flourish Research, which is a leading, multi-therapeutic clinical trial site network, and focus on this investment along with deal origination. Mr. Duffy has joined NMS’s Operating Executive Council (“OEC”), which is comprised of experienced industry leaders and operating executives. NMS OEC members work alongside NMS and portfolio management, bringing their deep industry knowledge, expertise, and relationships to our companies. Together, NMS and Mr. Duffy will actively work to identify, partner with, and build industry leading businesses within the outsourced pharmaceutical services market.
Mr. Duffy is a highly accomplished investor turned pharmaceutical services executive with 25+ years of experience. Drawing on his extensive knowledge across the clinical development and commercial healthcare continuum, Dan is passionate about accelerating access to medicines that address global patient needs, enhance quality of care, and improve health outcomes. He has a track record of significant value creation both organically and through acquisitions. Most recently Dan was CEO of Camargo Pharmaceutical Services,a private equity backed pharmaceutical services business. During his four-year tenure, the company more than doubled revenue and successfully completed two strategic acquisitions. Prior to that, Mr. Duffy was the VP and General Manager of McKesson’s Specialty Pharmacy Solutions (MSPS) business unit, a high-growth, multi-site operation with several hundred employees. Prior to MSPS, Dan spent nearly 10 years with Biologics, as the Chief Business Development Officer overseeing commercial operations, strategy, and development of the market-facing organization. Dan has completed upwards of 25 acquisitions and integrations during his career, creating significant value for employees, clients, and shareholders along the way.
Mr. Duffy commented, “I am thrilled to be joining NMS’s OEC to support their thesis in outsourced pharmaceutical services, especially given it is such an exciting time in Flourish Research’s evolution. I hope to add immediate value to Flourish Research through my experience in the sector and in post-acquisition integrations. In addition, I look forward to leveraging my background to support NMS in their continued pursuit of new opportunities in pharmaceutical services and distribution.”
“The combination of Dan’s background in investing and outsourced pharmaceutical services uniquely positions him to provide operational value while understanding implications to the broader portfolio and investment thesis,” said Luis Gonzalez, Partner at NMS. “We look forward to Dan’s contributions as a Board Member of Flourish Research as well as his perspective and insights as we continue to evaluate new high-growth, quality assets in the sector.”
About NMS Capital
NMS Capital is a New York headquartered private investment firm specializing in strategic equity investments and leveraged buyouts of lower middle market companies. The firm was formed through the spin-out of a group of portfolio companies from Goldman Sachs’ Merchant Banking Division. NMS focuses on companies headquartered in the U.S. poised to benefit from sustainable growth trends with particular concentration on companies in Business Services and Healthcare Services. For additional information on NMS, please visit the firm’s website at www.nms-capital.com.
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