RoundTable Healthcare Partners Facilitates Product Acquisition for CorePharma
Leucovorin Calcium Augments CorePharma’s Growing Product Portfolio
LAKE FOREST, Ill., March 16 /PRNewswire/ — RoundTable Healthcare Partners (“RoundTable”), an operating-oriented private equity firm focused exclusively on the healthcare industry, announced today that its portfolio company CorePharma LLC (“CorePharma”) has completed the acquisition of an ANDA for Leucovorin Calcium tablets. Leucovorin Calcium tablets are the generic equivalent to the Wellcovorin® brand previously marketed by Burroughs Wellcome. Leucovorin Calcium tablets are indicated for diminishing the toxicity and counteracting the effects of impaired methotrexate elimination and of inadvertent overdosages of folic acid antagonists. Financial terms of the transaction were not disclosed.
CorePharma is a leading developer and manufacturer of generic, prescription pharmaceutical 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 diversified product portfolio consists of solid-dose tablets and capsules, and includes modified release dosage form and controlled substance products. The Company’s products serve a variety of therapeutic areas and are sold largely through retail channels in the U.S. market. RoundTable acquired a majority interest in CorePharma in 2005.
“The Leucovorin tablet market has long been dominated by generic products,” said Christopher J. Worrell, Chief Executive Officer of CorePharma. “With CorePharma’s strong marketing capabilities, we have the ability to capture our fair share of the market to return the value envisioned by this transaction.”
“Leucovorin Calcium is a well-established chemotherapy adjunct therapy, a valuable product and will be a great addition to CorePharma’s growing portfolio,” said Jack L. McGinley, a Founding Partner of RoundTable and Chairman of the Board of CorePharma. “We are pleased to continue working with the CorePharma team and executing on our plan of targeting strategic, niche product acquisitions.”
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 and its investments can be found at www.roundtablehp.com.
CONTACT: Betty Rasbid of RoundTable Healthcare Partners, 847-739-3200