High Road Capital Partners’ portfolio company Dowden Medical Communications Group (DMCG) has completed its second add-on acquisition with the purchase of Princeton, New Jersey-based Tricore.
Tricore is a developer of customised learning modules and mobile training solutions for the pharmaceutical and life sciences sectors.
DMCG is a provider of promotional medical education communication services, scientific content development, and related marketing services to the pharmaceutical and biotechnology industries. DMCG completed its first add-on in November 2012 with the acquisition of QD Healthcare Group.
“Pharmaceutical companies are increasingly relying on third-party firms for their professional development needs. Tricore’s expertise in creating learning modules in the areas of sales training, marketing and compliance complements DMCG’s content and marketing services that help pharmaceutical companies educate physicians about their products,” says Bruce Guzowski, chief executive officer of DMCG. “We can now offer fully integrated and complementary solutions to broaden and deepen our client relationships across the combined company.”
Bruce Haghighat, president of Tricore, says: “We are excited about joining the DMCG platform, and offering expanded services and professional resources to our customers.”
Jeff Goodrich, a High Road partner, says: “Life sciences companies have increasingly complex therapies in their pipelines, and must navigate complicated and changing regulatory and payer environments. The need for trustworthy, high-quality employee and physician education has never been greater. DMCG and Tricore are well positioned for growth, with cutting-edge, interactive multimedia training modules and medical communications services for pharmaceutical, biotechnology and medical device companies.”
Financing for the transaction, which closed on 16 April 2013, was provided by Fifth Third Bank. Transaction consideration was not disclosed. Capstone Partners advised the sellers. The company’s owners, Bruce Haghighat and Omar Shoheiber, made a significant investment in the transaction alongside High Road. Working on the transaction from High Road were partners Jeff Goodrich and Jerry Anderson, principal Ben Schnakenberg, and senior associate Paul Langley.
High Road has completed 23 transactions – nine platform investments, 12 add-on acquisitions and two exits – for its debut fund, High Road Capital Partners Fund I.
