RoundTable Appoints Senior Healthcare Executives
New Leadership Will Strengthen Industry Expertise and Operating Capabilities
LAKE FOREST, IL, March 4, 2009 — RoundTable Healthcare Partners (“RoundTable”), an operating-oriented private equity firm focused exclusively on the healthcare industry, announced the appointment today of two senior healthcare executives adding to the firm’s industry expertise and operating capabilities. Christopher J. Worrell has joined as Chief Executive Officer of CorePharma, one of RoundTable’s portfolio companies and a leading developer and manufacturer of solid dose generic pharmaceuticals. Greg L. Baumli will be serving as Senior Vice President, Manufacturing providing guidance and oversight to each of the firm’s portfolio companies in the operational areas critical to the achievement of their growth objectives.
Mr. Worrell has 15 years of pharmaceutical healthcare experience specializing in the manufacturing, wholesaling, and distribution of generic pharmaceuticals. “RoundTable is pleased to have Chris join the CorePharma team,” said Jack McGinley, Founding and Operating Partner of RoundTable and Chairman of the Board of CorePharma. “Since our acquisition of CorePharma in 2005, the company has made significant progress toward achieving its strategic and operating goals. We are confident that Chris will be a valuable resource to the CorePharma team bringing his extensive knowledge of the generic pharmaceutical market and proven operating abilities.”
“I am excited to work with the CorePharma team,” said Mr. Worrell. “CorePharma has developed a diversified portfolio of generic pharmaceutical products with an impressive pipeline of new products in various stages of development. The company has tremendous potential and is well positioned, both internally and by working with the RoundTable team, to execute its growth strategy.”
Mr. Baumli has over 25 years of experience in medical device manufacturing most recently having responsibility for a global network of manufacturing locations with over $1 billion in value of production. “The addition of Greg to our management team is consistent with our strategy of providing operating resources to our portfolio companies to help them improve their long-term growth and profitability,” said Joseph F. Damico, Founding and Operating Partner of RoundTable. “Greg will bring the knowledge and set of skills and experiences typically seen in multi-billion dollar organizations. All of RoundTable’s portfolio companies will benefit from his considerable operating expertise and talents.”
“RoundTable’s success is clearly due to its strategy of bringing unparalleled operating resources to each of its portfolio companies,” said Mr. Baumli. “I am eager to begin working with these companies to help them achieve their short and long-term objectives.”
About RoundTable Healthcare Partners
RoundTable Healthcare Partners, Lake Forest, IL, is an operating-oriented private equity firm focused exclusively on the healthcare industry. RoundTable partners with companies that can benefit from its extensive industry relationships and proven operating and transaction expertise. RoundTable has established a successful track record of working with owner/founders, family companies, management teams, entrepreneurs, and corporate partners who share a vision and believe in the value creation potential of its partnership model. RoundTable currently manages $1.1 billion in capital, including two equity funds totaling $900 million and a subordinated debt fund of $200 million. More information about RoundTable Healthcare Partners can be found at www.roundtablehp.com .
About CorePharma LLC
CorePharma, Middlesex, NJ, is a leading developer and manufacturer of solid dose generic pharmaceuticals, including prescription and over-the-counter products. The company currently has over 30 FDA-approved products on the market, with a pipeline of over 25 new products in various stages of development and regulatory approval. CorePharma’s product portfolio is well diversified, spanning the spectrum of therapeutic specialties, and includes controlled drug products as well as immediate and modified release dosage form products.