High Road Capital Partners‘ portfolio company Dowden Medical Communications Group has completed its second add-on acquisition with the purchase of Princeton, New Jersey-based Tricore, Inc. Tricore is a developer of customized learning modules and mobile training solutions for the global pharmaceutical and life sciences sectors.
High Road Capital Partners announced today that its portfolio company Dowden Medical Communications Group (DMCG) has completed its second add-on acquisition with the purchase of Princeton, New Jersey-based Tricore, Inc. Tricore is one of the country’s foremost developers of customized learning modules and mobile training solutions for the global pharmaceutical and life sciences sectors.
DMCG is a leading provider of promotional medical education communication services, scientific content development, and related marketing services to the pharmaceutical and biotechnology industries. DMCG completed its first add-on in November 2012 with the acquisition of QD Healthcare Group.
“Pharmaceutical companies are increasingly relying on third-party firms for their professional development needs. Tricore’s expertise in creating learning modules in the areas of sales training, marketing and compliance complements DMCG’s content and marketing services that help pharmaceutical companies educate physicians about their products,” noted Bruce Guzowski, Chief Executive Officer of DMCG. “We can now offer fully integrated and complementary solutions to broaden and deepen our client relationships across the combined company.”
Bruce Haghighat, President of Tricore, added, “We are excited about joining the DMCG platform, and offering expanded services and professional resources to our customers.”
Jeff Goodrich, a High Road Partner, noted, “Life sciences companies have increasingly complex therapies in their pipelines, and must navigate complicated and changing regulatory and payer environments. The need for trustworthy, high-quality employee and physician education has never been greater. DMCG and Tricore are well positioned for growth, with cutting-edge, interactive multimedia training modules and medical communications services for pharmaceutical, biotechnology and medical device companies.”
Financing for the transaction, which closed on April 16, 2013, was provided by Fifth Third Bank. Transaction consideration was not disclosed. Capstone Partners LLC advised the sellers. The company’s owners, Bruce Haghighat and Omar Shoheiber, made a significant investment in the transaction along side High Road. Working on the transaction from High Road were Partners Jeff Goodrich and Jerry Anderson, Principal Ben Schnakenberg, and Senior Associate Paul Langley.
High Road has completed 23 transactions – nine platform investments, 12 add-on acquisitions and two exits – for its debut fund, High Road Capital Partners Fund I, LP.
High Road Capital Partners
High Road Capital Partners is a private equity firm focused on smaller middle market transactions. High Road was formed in 2007 and focuses on niche-leading companies with revenues of $10 million to $100 million and EBITDA of $3 million to $10 million. Once acquired, High Road works in partnership with management to take the companies to the next level through a combination of organic growth initiatives and add-on acquisitions. More information on High Road may be found on its website, www.highroadcap.com.
Dowden Medical Communications Group
Dowden Medical Communications Group is a provider of promotional medical education communication services and scientific content development through Medical Decision Point, LLC (http://www.medicaldecisionpoint.com/); Convergent Health Solutions, LLC (http://www.convergent-health.com/); eCrossings Media (http://www.ecrossingsmedia.com); and QD Healthcare Group (http://www.qdhealthcare.com/). DMCG is headquartered in Montvale, New Jersey and has an office in Stamford, Connecticut.
Tricore, Inc., located in Princeton, New Jersey, develops customized interactive learning and marketing solutions for the global pharmaceutical and life science sectors. Tricore was founded in 1994. Further information about Tricore is available at www.tricoreinc.com.
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