RoundTable Healthcare Partners Announces Partnership With Pierre Frechette to Form Renaissance Pharma Inc.
LAKE FOREST, Ill., May 25 /PRNewswire/ -- RoundTable Healthcare Partners ("RoundTable"), an operating-oriented private equity firm focused exclusively on the healthcare industry, announced today that it will be partnering with Pierre Frechette to form Renaissance Pharma Inc. ("Renaissance Pharma"). The new company, headquartered on the south shore of Montreal, will focus on identifying and building new pharmaceutical platforms. RoundTable has committed to support Renaissance Pharma with the full resources of the firm including substantial investment capital.
Mr. Frechette brings vast experience to Renaissance Pharma having worked for the past twenty-seven years in the healthcare industry. Most recently, he served as President & CEO of Sandoz Canada Inc., a position held since 2004 when Sandoz, a division of Novartis, acquired Sabex Holdings Inc. ("Sabex") from RoundTable. Mr. Frechette had been President & CEO of Sabex at the time of the acquisition. Under Mr. Frechette's leadership, Sandoz Canada achieved a 20% CAGR in net sales, launched 75 new products, and implemented a global center of excellence for the development and manufacturing of sterile injectables and ophthalmics serving Canada, the United States, Europe, and Japan. While at Sandoz, Mr. Frechette also served as the Chair of the Canadian Generic Pharmaceutical Association. Prior to his tenure at Sabex and Sandoz, Mr. Frechette held various senior positions at Baxter International in mergers and acquisitions, business development, marketing and manufacturing in North America and Europe.
"We are delighted to be working with Pierre again," said Jack McGinley, a Founding and Operating Partner at RoundTable. "Pierre is an industry veteran and has consistently demonstrated an ability to create value in his businesses. Likewise, we continue to be enthusiastic about the pharmaceutical market and look forward to working with Pierre to identify new opportunities for investment."
"I am excited to have the opportunity to partner with RoundTable to build new pharmaceutical platforms," said Mr. Frechette. "RoundTable has a history of building strategically stronger businesses by providing their portfolio companies with the necessary financial resources and operating and transaction expertise. Their successful track record with companies like Sabex makes them an ideal partner with whom I can work to form Renaissance."
More information about Renaissance Pharma can be found at www.renaissancepharmainc.com
About RoundTable Healthcare Partners
RoundTable Healthcare Partners, Lake Forest, IL, is an operating-oriented private equity firm focused exclusively on the healthcare industry. RoundTable's investment strategy targets companies in the healthcare industry that fall within the expertise and experience of the firm's operating principals. RoundTable partners with companies that can benefit from its extensive industry relationships and proven operating and transaction expertise. RoundTable currently manages $1.1 billion of capital, and has seven other platform portfolio companies. More information about RoundTable Healthcare Partners and its investments can be found at www.roundtablehp.com.
SOURCE RoundTable Healthcare Partners