Excellere Partners, a Denver-based private equity firm focused on partnering with middle market entrepreneurs and management teams, announced today that it has made a strategic investment in TrialCard Incorporated, a leading provider of patient access and medication adherence support services on behalf of pharmaceutical manufacturers. The TrialCard investment represents the seventh platform investment in Excellere Capital Fund II, L.P.
Founded in 2001 and headquartered in Cary, North Carolina, TrialCard provides patient access services including co-pay card, product voucher, and rapid rebate programs; specialty therapy hub; business process outsourcing solutions; and point-of-sale pharmacy services, each designed to increase patient engagement and adherence to prescribed medication regimens. TrialCard’s broad suite of services are enabled by the company’s robust data analytics capabilities and proprietary program management processes to enhance patients’ ability to adhere to their prescribed medications and improve patient outcomes, thereby reducing overall healthcare costs.
Rob Martin, Managing Partner at Excellere Partners, commented, “Medication adherence represents a significant challenge to the healthcare system with non-adherence estimated to drive approximately $290 billion in avoidable healthcare spending annually. We were in search of partnership opportunities with solutions providers that address adherence challenges via innovative service offerings and are driven by exceptional management teams – TrialCard fit that criteria perfectly. Given the tremendous customer value proposition offered by TrialCard, as well as the benefits its services provide to patients, physicians and pharmacies, we are thrilled to support this team and help fulfill its vision for growth.”
Dave Cunningham, Founder and Chairman of the Board of TrialCard, said, “A substantial opportunity exists for TrialCard to create additional value across the healthcare ecosystem by expanding the breadth and depth of our services. The management team and I were in search of a partner that shared our vision for growth and commitment to solving clients’ most complex patient access and medication adherence challenges. We believe that we found such a partner in Excellere, which has a proven track record of supporting management teams in growing healthcare businesses like ours by adding complementary capabilities and delivering additional value to customers.”
Mark Bouck, the company’s Chief Executive Officer, added, “Excellere is the ideal partner for the company’s next phase of growth because of its deep knowledge of the healthcare industry, proprietary value creation tools and processes, and commitment to help the company achieve its goals and take it to the next level.”
Together, TrialCard’s senior management and the Excellere team will seek to enhance the company’s solution delivery, augment its suite of services, and expand its customer base through a targeted buy-and-build strategy. Brad Cornell, Principal at Excellere Partners, said, “TrialCard is in a unique position to build upon its history of leadership within the patient access and medication adherence market. We are focused on enhancing the value proposition that the company provides for customers through a combination of service optimization, organic growth initiatives and complementary acquisitions that further improve patient outcomes and drive attractive return on investments to current and prospective customers.”
About TrialCard Incorporated
TrialCard is a leading provider of patient access and medication adherence support services on behalf of pharmaceutical manufacturers, processing over $1 billion in patient benefits annually. The company was founded in 2001 and is headquartered in Cary, North Carolina.
About Excellere Partners
Excellere Partners is a Denver, Colorado based middle-market private equity firm that currently manages $737 million of committed capital. The firm specializes in partnering with entrepreneurs and management teams through majority recapitalizations and management buyouts. Excellere employs a buy-and-build strategy that provides its portfolio companies with capital as well as a proprietary value creation process designed to accelerate growth while enhancing corporate infrastructure. Investments are focused on companies within the following industries: energy products and services; healthcare; industrial technology and services; business services; and agri-business. For more information about Excellere, please visit http://www.excellerepartners.com.