New York-based private equity shop JLL Partners has completed the sale of its portfolio company PharmaNet Development Group to inVentiv Health Inc. JLL acquired PharmaNet in 2009. inVentiv Health is an affiliate of Thomas H. Lee Partners. PharmaNet provides drug development services to the pharmaceutical, biotechnology, generic drug, and medical device industries.
JLL Partners Inc. is pleased to announce the closing of the sale of PharmaNet Development Group, Inc. to inVentiv Health, Inc., an affiliate of Thomas H. Lee Partners, L.P. JLL acquired PharmaNet in 2009 and worked in close partnership with the Company’s management team to drive operational efficiencies and outstanding new business momentum, resulting in the highest EBITDA levels in the Company’s history.
JLL is a New York-based leading private equity investment firm with approximately $4.0 billion of capital under management. JLL has a special focus on complicated and distressed situations and has invested in a variety of industries, in particular financial services, education, aerospace, building products, and healthcare. More information on JLL can be found on the website www.jllpartners.com.
PharmaNet Development Group, Inc., a recognized leader of global drug development services to the pharmaceutical, biotechnology, generic drug, and medical device industries, provides comprehensive capabilities in Phase I-IV clinical development, bioanalytical and bioequivalence services, regulatory, staffing, and therapeutic solutions.