New York, March 7, 2023 – NMS Capital (“NMS”) announced today that it has partnered with the management of Health & Wellness Partners Group, LLC (HWP) in the recapitalization of the company. Terms of the transaction were not disclosed.
Founded in 2005 and headquartered in Upper Saddle River, NJ, HWP is a leading provider of medical communications solutions to global life sciences companies. HWP currently provides service offerings in three areas: Medical Affairs, Medical Marketing, and Speaker Bureau. Each service offering is seeded in expert strategy, scientific content, and proprietary technology, enabling HWP to deliver tailored, high-impact educational engagements. HWP has built a reputation for achieving outcomes that are measured across customer type and delivery method, whether it be in-person, digital, or virtual. HWP supports life-science companies across a multitude of therapeutic areas and disease states, from early preclinical to patent expiry.
As of 2022, the worldwide outsourced pharma commercialization market was estimated at $21bn in annual spend. This market is projected to grow to more than $37bn by 2027, driven by an increasingly complex drug pipeline. This complexity, combined with a continually changing regulatory environment, has resulted in increased reliance on external partners to assist in the commercialization process. Through its vast network of experts and in-house talent, HWP caters to pharma and biotech companies that demand specialized scientific expertise in this process.
Jani Hegarty, Founder and Chief Executive Officer at HWP, commented: “Our focus has always been on sustainability and growth, and the entire HWP team has delivered excellent work year over year to highly satisfied life-science clients. Partnering with NMS allows us to accelerate growth through investment in expanding our therapeutic expertise and delivering new services. NMS stood out as an ideal partner given their experience with outsourced pharma services, as well as their clear cultural alignment with HWP, something that has been crucial to our success thus far. We look forward to the next chapter of growth together.”
Luis Gonzalez, NMS Partner, added “Medical communications outsourced providers play a key role in assisting biopharma to develop high-quality scientific evidence, and demonstrate to multiple constituents—patients, providers, and payers—how education improves patient outcomes. We see the increased complexity of drug development—from real-world evidence, big data, and genomics—as driving unprecedented demand for specialized medical communications services. HWP’s depth of medical expertise is a clear differentiator and has been borne out in its long-standing client relationships and rapid growth. We believe that investments in new therapeutic area expertise and expansion of service offerings cater to this demand and position HWP for continued market-share capture.”
Dan Duffy, NMS Operating Executive focused on Pharma Services, commented: “We are excited to partner with Jani, Audrey, and the broader team at HWP. Based on the growth visibility of HWP’s existing business alone, we see tremendous potential for the company, which already has a strong track record of success. Given my experience in the pharma commercialization space, I am excited for the opportunity to support HWP in this journey and continue to build on NMS’ thematic investing approach.”
McDermott Will & Emery LLP, provided legal counsel, and Clearsight Advisors, Inc. served as financial advisor to NMS. Piper Sandler & Co. acted as financial advisor to HWP, while McCarter & English, LLP, provided legal counsel to HWP. Oxford Finance provided debt financing to support the transaction.
About Health & Wellness Partners
Founded in 2005 and headquartered in Upper Saddle River, NJ, with an additional office in San Diego, CA. HWP is a leading provider of integrated medical communications services, supporting life science companies by educating stakeholders on their products from discovery through loss of exclusivity. For additional information on HWP, please visit www.thehwpgroup.com.
About NMS Capital
Founded in 2010, NMS Capital is an experienced private equity firm managing assets in excess of $1.5 billion. Since inception, NMS has partnered with management teams in over 115 investments and follow-on acquisitions across defined investment themes within the Business Services and Healthcare Services industries. The firm’s principal strategy is to create long-term value by providing strategic and operational resources to growth-oriented companies led by founders or experienced management teams. NMS has a track record of successfully building industry leading lower middle market companies in defensible and scalable end markets by accelerating organic and acquisition-driven growth.
For additional information on NMS, please visit the firm’s website at www.nms-capital.com. Follow NMS Capital on www.linkedin.com/company/nms-capital.
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