Canadian healthcare private equity firm Persistence Capital Partners (PCP) has made an investment in LMC Diabetes & Endocrinology, a Canadian endocrinology practice. The financial terms of the deal were not released. Operating with a network of nine clinics in Alberta, Ontario and Québec, LMC provides community-based care to diabetics and endocrinology patients with a focus on education, research, service excellence and meeting medical needs. The company’s partnership with PCP is intended to support growth of its model across Canada. The investment follows PCP’s acquisition last month of the occupational health clinical services business of Morneau Shepell Inc.
PCP Announces Investment in LMC Diabetes & Endocrinology
Supporting Future Growth in Canadian-based, Globally Leading Diabetes Practice and Clinical Research Sites
Montreal & Toronto, Canada, November 10th, 2014. Persistence Capital Partners (“PCP”) is pleased to announce an investment in LMC Diabetes & Endocrinology (“LMC”), Canada’s leading national endocrinology practice. With 9 clinics across the country, LMC provides multi-disciplinary community-based care to Canadian diabetics and endocrinology patients with a focus on education, research, service excellence and meeting their comprehensive medical needs. Founded and led by Dr. Ronnie Aronson, LMC is Canada’s largest diabetes, metabolic, and endocrinology practice. Led by its more than 30 endocrinologists and together with diabetes educators and other healthcare professionals, LMC is also a global leader in early through late phase clinical research, including 9 Canadian sites and a dedicated Phase I center in Toronto, Canada.
Lloyd M. Segal, Managing Partner at PCP, a private equity fund exclusively focused on growth and buyout opportunities in Canadian healthcare, said, “We are tremendously excited to support and partner with Dr. Aronson and his team, who have built a world-class practice with a group of outstanding professionals. LMC’s achievements in practice, education and clinical research are unrivaled. It is also a phenomenal workplace and environment for patient care, consistently recognized by Ernst & Young as one of Canada’s top employers. PCP’s investment is intended to support growth of the LMC model across Canada.”
Dr. Aronson will continue in his role as LMC’s Chief Medical Officer. “We are very pleased to have PCP’s support and leadership with us for our next stage of growth,” he noted, “The PCP team’s experience in growing medical practices nationally and their understanding of the imperatives of patient care in Canada make them an ideal investor in our future. We also believe that their deep experience in clinical research will help us continue to seek new ways to expand the therapeutic horizon for our patients.”
About LMC Diabetes & Endocrinology
Founded by Dr. Ronnie Aronson in 1997, LMC is Canada’s leading national diabetes, endocrinology and metabolic disease practice, serving Canadian patients with diabetes and other general endocrinology concerns. LMC’s national practice is led by over 30 endocrinologists in 9 clinics in Ontario, Alberta and Quebec. LMC’s 160+ member team of healthcare professionals provide multi-disciplinary community-based care to Canadian diabetics and endocrinology patients with a focus on education, service excellence and meeting their comprehensive medical needs as well as operating full-service pharmacies and an online platform for diabetes education, material and supplies at www.diabetessource.ca. LMC stands among global leaders in early through late stage endocrinology and metabolic disease clinical research, with 9 Canadian sites and a dedicated Phase I research facility in Toronto. LMC has consistently been recognized among Canada’s Best Workplaces® by Ernst & Young.
About Persistence Capital Partners
Persistence Capital Partners is a private equity fund exclusively focused on high-growth opportunities in the healthcare field. With deep healthcare industry expertise, PCP aims to create significant long-term capital appreciation for its investors by identifying and developing attractive investment opportunities in the Canadian healthcare market.
LMC Diabetes & Endocrinology
T: (416) 645-2929
Persistence Capital Partners
Lloyd M. Segal, Managing Partner
T: (514) 687-2600
E: email@example.com www.persistencecapital.com
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