Periscope Equity a Chicago-based private equity firm is to make a significant investment in Strategic Pharma Solutions LLC (SPS) a Raleigh-based healthcare communications agency.
Founded in 2007 Strategic Pharma Solutions tailors communications solutions for pharmaceutical medical device and biotechnology companies across the United States through its digital scientific and creative offerings. The agency also specializes in brand strategy and market development for products coming to market or currently on the market.
Since its inception Strategic Pharma Solutions has seen an 80 percent increase in staff tripled its client base and doubled its revenue. Periscope Equity's investment will help Strategic Pharma Solutions continue to focus on the agency's offerings and expansion at a time when the healthcare industry and its regulations are changing substantially.
"Our partnership with Strategic Pharma Solutions is extremely exciting at a time when the healthcare market is growing and changing,” says Steve Jarmel principal at Periscope Equity. "We look forward to continuing to collaborate with Strategic Pharma Solutions to build exceptional value for the company and its clients."
"Our decision to work with Periscope Equity will help foster an aggressive expansion of our product offerings and talent base and will only further support our efforts in providing our clients with the best work possible,” says Paul Bonavita president and chief executive officer of Strategic Pharma Solutions. "This collaboration is a clear win for Strategic Pharma Solutions our clients and the future of our agency."
The investment was supported by Strategic Pharma Solution's senior management who will continue in their current operating roles. In addition Centerfield Capital Partners provided subordinated debt and equity co-investment. Additional terms of the investment were not disclosed.
