WindRose Health Investors has completed an equity recapitalization of Veristat Group, a global clinical research organization (CRO) that empowers biotech and pharmaceutical sponsors to advance complex therapeutic challenges and accelerate innovative therapies. Edgemont Partners provided financial advice to Veristat.
(New York, NY) April 7, 2021 – WindRose Health Investors, LLC (“WindRose”), a New York City-based healthcare private equity firm, announced the completion of an equity recapitalization of Veristat Group Inc. (“Veristat” or the “Company”). Veristat is a scientifically minded global clinical research organization (CRO) that empowers biotech and pharmaceutical sponsors to advance complex therapeutic challenges and accelerate innovative therapies. The Company provides essential services along the entire clinical therapeutic development spectrum through regulatory approval and post-approval, including strategic consulting, regulatory affairs, clinical operations, biostatistics, data management, medical writing, and pharmacovigilance. Terms of the transaction were not disclosed.
WindRose partnered with Veristat’s executive team to recapitalize the business and to provide additional capital to support future growth. With WindRose’s investment, Veristat will be able to accelerate its next phase of expansion, drawing on WindRose’s extensive experience investing in healthcare and outsourced pharmaceutical services companies. Management will continue to own a significant minority position in the Company going forward.
Patrick Flanagan, Chief Executive Officer, commented, “Veristat’s focus is to build true partnerships with our clients as we help them overcome intricate challenges in developing ground-breaking products that improve and save lives through our differentiated approach to designing and executing clinical trials, clinical programs, regulatory submissions, and pharmacovigilance. We are thrilled to partner with WindRose as we continue to execute our growth strategy. In addition to capital, WindRose’s deep network of relationships and expertise in the biotech and pharmaceutical markets will be incredibly valuable as we strategically grow our Company.”
“We are excited to be partnering with Veristat’s highly experienced team,” said CJ Burnes, Partner with WindRose. “We are impressed with the Company’s clinical impact and scientific approach to partnering with companies advancing life-enhancing therapies. Their market position, stellar reputation, and leadership within biostatistics and complex clinical trials is unlike any other we have seen, and Veristat’s client population is growing rapidly. WindRose has meaningful experience in partnering with companies serving rapidly expanding markets, and we plan to contribute substantial resources to support Veristat’s continued expansion in partnership with the management team and founders.”
Edgemont Partners acted as financial advisor to Veristat. McDermott Will & Emery LLP acted as legal advisor to WindRose, and Nutter McClennen & Fish LLP acted as legal advisor to Veristat.
Veristat, a scientifically minded global clinical research organization (CRO), enables biotech and pharmaceutical sponsors to solve unique and complex challenges associated with accelerating innovative therapies through clinical development to regulatory approval and post-approval. With more than 26 years of experience in clinical trial planning and execution, Veristat is well equipped to support any clinical development and pharmacovigilance program. Veristat has assembled an extraordinary team of experts worldwide who have mastered therapeutic area intricacies, enabling sponsors to succeed in extending and saving lives.
For more information, please visit https://www.veristat.com/.
WindRose makes equity investments in companies that operate within the services sectors of the healthcare industry. The firm focuses on companies with profitable business models and a demonstrated ability to deliver cost-effective solutions. WindRose manages over $1.2 billion in investments and is currently investing out of its fifth fund. WindRose is based in New York City and invests in companies throughout the United States.
For more information, please email WindRose at email@example.com.