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Lee Equity Partners sells PDR Network Genstar Capital affiliate

Lee Equity Partners, a middle market buyout firm has closed the sale of PDR Network (PDR) to an affiliate of San Francisco based private equity firm Genstar Capital.

PDR, one of the most recognisable brands in healthcare, built the largest network to engage physicians, pharmacists, and patients with clinically relevant content in a targeted and measurable way. Lee Equity capitalised the company and merged two corporate carve outs: Physician’s Desk Reference and Healthcare Notification Network (HCNN) in 2009, and subsequently acquired LDM Group in 2014. Through these acquisitions and the launch of new products, the company transitioned from a legacy print-based platform to a highly differentiated high-growth digital information services network.
 
Dave Morrison, Partner at Lee Equity, says: “Under Mark’s innovative and agile leadership, the business has transformed into a high-growth healthcare information services company. The company’s strong competitive position and growth trajectory provides a solid foundation for the company’s next stage of development.”
 
Mark Heinold, Chief Executive Officer of PDR, says: “Lee Equity provided tremendous strategic, operational and financial support as we integrated strategic acquisitions and created a technology enabled communications network for the pharmaceutical industry. We appreciate their partnership and are excited about the resulting opportunities ahead.”

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