TPG Growth has made a USD75 million investment in Precision for Medicine, Inc. Additional details of the transaction have not been disclosed.
Precision for Medicine is a specialty services company that supports pharmaceutical and life sciences companies through development and commercialisation. The Company helps its clients develop products, demonstrate economic value, validate outcomes and build differentiation within the healthcare marketplace. For TPG, Precision for Medicine marks the Firm’s latest addition to a growing list of investments in some of the healthcare industry’s most innovative companies.
“TPG Growth leverages unparalleled healthcare expertise from across the TPG platform to identify companies that have exceptional opportunities for growth,” says Matthew Hobart, Partner at TPG Growth. “Precision for Medicine operates at the intersection of two of the fastest-growing areas in healthcare — precision medicine and value-based care. With a strong founding team and rapid organic and inorganic growth, the Company is well-positioned to capitalise on the advances inherent in leveraging clinical, genomic and molecular data to optimise medical treatment.”
“TPG’s industry insights and extraordinary track record of partnering with leading healthcare companies make them an ideal partner for us,” says Ethan Leder, Co-Founder and Executive Chairman of Precision for Medicine. “The life sciences market is experiencing unprecedented change and growth spurred by the innovations of precision medicine. At the same time, our clients’ innovations have to be rationalised in a market facing limited resources and demanding proof of value. We feel fortunate to be working with a team who understands our vision and has the resources and capabilities to support our growth. We look forward to working closely with TPG to continue our expansion.”
