MILWAUKEE, Feb. 20, 2018 /PRNewswire/ -- Water Street Healthcare Partners, a strategic investor focused exclusively on thehealth care industry, and JLL Partners, a leading middle-market private equity firm, have signed a definitive agreement to acquire Dohmen Life Science Services ("DLSS") from its parent, The Dohmen Company, in a transaction expected to close in
Headquartered in Milwaukee, with facilities across the country, DLSS provides biopharma and medical device companies with a wide array of outsourced services and capabilities in the areas of patient support, supply chain, compliance, finance and technology. The company will merge with Water Street's commercialization services platform that specializes in market access solutions and was formed last year through the merger of Alliance Life Sciences, Health Strategies Group and The Access Group.
With the addition of DLSS, the platform will become the leading independent provider of commercialization services to life sciences companies. It will serve more than 300 of the industry's top pharmaceutical, biotech and medical device companies with a portfolio of solutions designed to simplify commercialization, optimize market access and build share for new and existing therapies.
Jim Lang, executive chairman of the global enterprise, said, "Adding DLSS to our life sciences platform is a game changer. Its client-focused culture and service capabilities are a strong strategic fit with our companies. As one entity, the center of our DNA will be to engage our combined capabilities to go above and beyond to delight our customers."
Cynthia LaConte, CEO of DLSS parent, The Dohmen Company, said, "At Dohmen, we've been creating a more efficient, effective and easy-to-use health experience for 160 years. We built, launched and grew DLSS as a disruptive alternative to traditional models that aren't well suited to serving companies with targeted therapies and smaller patient populations. That's why it was important for us to find partners that could not only scale the business but could add strategically important capabilities for our clients."
DLSS will continue to operate under its existing name with its current leadership team. When the transaction closes, its leadership team will report to the platform's board of directors spearheaded by Mr. Lang.
Dan Agroskin, partner, JLL Partners, said, "Our global platform is ideally positioned to support the life sciences industry as it continues to develop targeted therapies. We are pleased to partner with Water Street to invest our combined expertise and resources to optimize the impact of these important new products through organic initiatives and targeted acquisitions."
Pete Strothman, partner, Water Street, added, "We are excited to bring together these premium capabilities to continue building a robust, go-to-market services platform for the life sciences industry that is uniquely qualified to ensure client success, particularly for highly specialized patient populations."
Financial details of the acquisition are not being disclosed.
About Dohmen Life Science Services Launched in 2014, DLSS empowers hundreds of life science companies ranging from start up to fortune 500 with best-in-class outsourced infrastructure, insight and services by providing services in the areas of patient support, supply chain, compliance, finance and technology. DLSS acts as a seamless extension of our clients' companies – reducing cost and complexity while strengthening and simplifying their connection with patients. For more information, visit dlss.com.
About JLL PartnersJLL partners is a leading middle-market private equity firm with a 30-year track record of building and transforming businesses through its financial and operational expertise. Since its founding in 1988, JLL Partners has committed approximately $5 billion across seven funds sourcing its deals from a deep network of industry contacts and creating value for its partners and investors. The firm is headquartered in New York. For more information, visit jllpartners.com.
About Water StreetWater Street is a strategic investor focused exclusively on health care. The firm has a strong record of building market-leading companies across key growth sectors in health care. It has worked with some of the world's leading health care companies on its investments including J&J, Medtronic, Smith & Nephew and Walgreens. Water Street's team is comprised of industry executives and investment professionals with decades of experience investing in and operating global health care businesses. The firm is headquartered in Chicago. For more information, visit waterstreet.com.
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SOURCE Water Street Healthcare Partners
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