Renovus Capital Partners has recapitalized New York City-based ClinicalMind, a medical communications company. No financial terms were disclosed. Excel Partners served as the sell-side adviser to CM on the deal. DLA Piper provided legal counsel to Renovus while BrownRudnick did likewise for CM.
NEW YORK, Nov. 25, 2019 /PRNewswire/ — ClinicalMind, LLC (CM), a premier and award-winning medical communications company, announced today that it has recapitalized in order to expand both its strategic and tactical agency business as well as its innovative enGauge® technology, which is a Software as a Service (SaaS) solution. The recapitalization was led by equity financing from Renovus Capital Partners (Renovus), an investment firm based outside of Philadelphia committed to supporting and growing best-in-class education, healthcare services, and technology services companies.
CM, based in New York, NY, is a unique medical communications company composed of industry experts who translate science to reflect its clinical, economic, and societal value across a therapeutic product’s lifecycle. CM’s dedication to scientific strategy, executional excellence, and exceptional technology has driven their support of numerous innovative programs in rapidly changing specialty areas, including gene and cellular therapies, as well as novel therapies for a number of rare diseases.
CM’s integration of science and proprietary technology enhances meaningful and effective communications to healthcare practitioners and other stakeholders in the United States and globally.
In addition, CM has been recognized for its best-in-class technology solutions that drive physician engagement, facilitate internal communication among marketing and medical affairs teams, and enable implementation of program development solutions through a SaaS model. CM’s SaaS product drives workflow processes and virtual advisory boards, monitors program progress, enables contract management, tracks all activities, and produces meaningful data and all required compliance reports. These technology solutions have facilitated a dramatically higher level of engagement with clinicians and produce much-needed data to help guide clients’ efforts to better understand and work more effectively in their therapeutic space.
“The rapid growth of ClinicalMind has been an amazing testament to the hard work and innovative thinking by this team,” said Jeanne Martel, CEO of CM. “We are excited about our new partnership with Renovus, as it will enable us to continue to maintain our growth and expand our services and technology solutions to meet our clients’ needs.”
Jesse Serventi, a Founding Partner of Renovus, added, “After an extensive search, we are excited to partner with an exceptional medical communications company and management team that will successfully continue to address the rapid development of treatments for rare diseases, as well as the development of high-science approaches like gene and cellular therapies that are changing the healthcare landscape.” He continued, “We became excited by the fully integrated technology platform and solutions developed by a team that actually understands the technology needs of their clients. We are excited to help grow this technology to support biotech companies and pharma.”
Excel Partners served as the sell-side advisor to CM. DLA Piper served as legal counsel to Renovus. BrownRudnick served as legal counsel to CM.
CM is a premier healthcare communications company, known for its broad experience as both a strategic and tactical partner with biotech and pharmaceutical companies, especially those preparing to launch new and first-in-class therapies. CM is at the forefront of the latest treatment innovations, working in lockstep with their clients to educate the healthcare communities on how to prepare their practices, institutions, and patients for these novel therapies. The leadership of CM is composed of veterans in the healthcare communications space who have been working in both the United States and around the globe for more than 2 decades. For more information, visit clinicalmind.com.
Founded in 2010, Renovus is an education-, training-, and human capital–focused private equity firm. Renovus is based outside of Philadelphia and manages over $500 million of committed capital through 2 SBIC funds. To date, the firm has acquired 25 portfolio companies in education and training, technology, and healthcare services industries. Renovus is an active investor in profitable and growing enterprises. The Renovus team, in partnership with management, seeks to create value through operational improvements, strategic growth initiatives, and acquisitions. More information can be found at renovuscapital.com.