Eureka Growth Capital has acquired Shrewsbury, New Jersey-based MedForce, a provider of healthcare professional interaction management services for product promotion and marketing programs for U.S. drug makers and biotech companies. The seller was Call Inc. No financial terms were disclosed. TD Bank provided the debt financing for this transaction.
PHILADELPHIA, PA, June 6, 2016 – Eureka Growth Capital (“Eureka”) today announced its acquisition of the MedForce business of Call, Inc. through its newly-formed affiliate, HCP Management Operations, Inc. (“MedForce” or the “Company”). MedForce is a leading provider of healthcare professional interaction management services for product promotion and marketing programs for pharmaceutical manufacturers and biotechnology companies in the United States. Eureka acquired the business in partnership with its founders and senior management team, who remain with the business and made a significant equity investment in the Company.
Headquartered in Shrewsbury, NJ, MedForce specializes in speakers bureau and advisory board program management, implementation, and compliance, having completed more than 150,000 speakers bureau and advisory board events since its founding. The Company also manages and implements speaker training programs and provides other consultative services for its clients.
“We are very pleased to partner with CEO Scott Navitsky and his talented management team in continuing to grow MedForce while maintaining its position as the premier customer service provider in the industry,” said Chris Miller, Partner of Eureka and a Director of the Company. “Scott and his team have successfully built MedForce from its founding in 2001 to a leading provider of healthcare professional interaction management services to some of the largest pharmaceutical manufacturing companies in the world, and we are excited to support their continued investments in the Company’s proprietary marketing management and compliance software and ‘high touch’ customer service philosophy.” Tassie Oswald, a Vice President with Eureka who also joined the Board of MedForce, added, “MedForce serves the growing and highly-regulated branded pharmaceutical industry, where its strategic marketing services and proprietary technology enable its customers to more successfully compete in a crowded field while also remaining in compliance with company, state and federal regulatory requirements.”
“I am excited to partner with Eureka to expand the current capacity and capabilities of MedForce,” said CEO Scott Navitsky. “This partnership will allow MedForce to expand our selling efforts with current and new customers and augment our back office and customer-facing technology offerings. With Eureka, we now have an experienced and strategic Board of Directors that will help guide our vision. The future is bright at MedForce and the team is looking forward to reaching new heights.”
TD Bank provided debt facilities to support the acquisition.
About Eureka Growth Capital
Eureka Growth Capital is a private equity firm targeting niche market leaders with up to $75 million in revenue. Eureka focuses on partnering with proven managers to drive the growth of promising companies into outstanding enterprises. Eureka leads buyouts that bring significant ownership to the operators driving the success of the business and minority recapitalizations with flexible investment structures designed to uniquely meet the needs of the company, its management team and other shareholders. More information about Eureka Growth Capital can be found at www.eurekagrowth.com.