Investment Summary

TT Capital Partners, NovaQuest and QHP Capital Invest In InformedDNA

On December 23, 2019, growth capital firm TT Capital Partners, private equity firm NovaQuest and private equity firm QHP Capital invested in life science company InformedDNA

Investment Highlights
  • This is TT Capital Partners’ 1st, NovaQuest’s 6th and QHP Capital’s 2nd transaction in the Life Science sector.
  • This is TT Capital Partners’ 7th, NovaQuest’s 7th and QHP Capital’s 3rd transaction in the United States.
  • This is TT Capital Partners’ 1st, NovaQuest’s 1st and QHP Capital’s 1st transaction in Florida.

Investment Summary

Date 2019-12-23
Target InformedDNA
Sector Life Science
Investor(s) TT Capital Partners
NovaQuest
QHP Capital
Deal Type Growth Capital
Advisor(s) Robert W. Baird & Co., Inc. (Financial)
Foley & Lardner (Legal)

Target

InformedDNA

St. Petersburg, Florida, United States
InformedDNA is the authority on the appropriate use of genetic testing. It leverages the expertise of the largest full-time staff of independent, board-certified genetics specialists in the U.S. to help ensure health plans, hospitals, employers, clinicians, and patients all have access to the highest quality genetic services. Key offerings include clinical genetic counseling, genetic testing utilization management, genetic testing payment integrity, and expert genetics clinical trial support. InformedDNA was founded in 2007 and is based in St. Petersburg, Florida.

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Investor(S) 3

DESCRIPTION

TT Capital Partners is the investment arm of financial advisory firm TripleTree. TT Capital Partners invests in emerging healthcare technology and services companies with the potential to be market leaders across disruptive themes in healthcare. TT Capital Partners is based in Minneapolis, Minnesota.


DEAL STATS #
Overall 8 of 15
Sector (Life Science) 1 of 1
Type (Growth Capital) 5 of 9
State (Florida) 1 of 1
Country (United States) 7 of 14
Year (2019) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-03-04 Softheon

Stony Brook, New York, United States

Softheon is a cloud-based eligibility, enrollment, and billing provider for health plans and government agencies. Softheon's Software-as-a-Service (SaaS) and Business Process-as-a-Service (BPaaS) solutions solve complex challenges for health plans and government health agencies. Softheon was founded in 2000 and is based in Stony Brook, New York.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-04-10 Integra ServiceConnect

Owings Mills, Maryland, United States

Integra represents a quarter of the combined company revenue and addresses the social needs of its members with operations in multiple states. Integra operates its existing business while leveraging its expertise to help MedZed engage more members in its existing markets. Integra’s Community Health Worker engagement model which has yielded high success rates compared to traditional remote outreach methods will be implemented with MedZed’s existing customers enabling increased engagement and retention rates of referred Medicaid members.

Sell -
Investor

NovaQuest

Investor


Category Private Equity Firm
Founded 2010
PE ASSETS 3.0B USD
Size Large
Type Sector Focused
DESCRIPTION

NovaQuest Capital Management is a private equity firm focused on acquiring and investing in growth-stage middle-market healthcare companies. Specific areas of interest include life science, medical technology, healthcare/facility services, and healthcare focused IT. The Firm targets profitable companies valued up to $500 million with $20 to $100 million of revenue. NovaQuest Capital Management was established in 2000 and is based in Raleigh, North Carolina.


DEAL STATS #
Overall 8 of 14
Sector (Life Science) 6 of 8
Type (Growth Capital) 2 of 5
State (Florida) 1 of 2
Country (United States) 7 of 11
Year (2019) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-06-18 Nevakar

Bridgewater, New Jersey, United States

Nevakar is a fully integrated specialty pharmaceutical company with an extensive portfolio of products in the ophthalmic and injectable areas. Nevakar was founded in 2015 and is based in Bridgewater, New Jersey.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-08-04 Clinical Ink

Horsham, Pennsylvania, United States

Clinical Ink is a clinical technology company that offers data certainty from source to submission. The company's Lumenis eSource clinical technology and configurable direct data capture, eCOA, ePRO, and eConsent modules a suite of solutions for capturing and integrating electronic data from sites, clinicians, and patients at its source naturally enhances clinical trial workflow by reducing manual labor, providing anytime, anywhere data access, and saving resources as trials progress. Clinical Ink was founded in 2007 and is based in Horsham, Pennsylvania.

Sell -
DESCRIPTION

QHP Capital is a private equity firm focused on healthcare businesses in the middle-market. Specific areas of interest include tech-enabled life sciences and pharma service companies. The Firm seeks to partner with management teams in founder or family-owned companies, and invests in buyouts and other transaction types. QHP Capital was founded in 2022 and is headquartered in Raleigh, North Carolina.


DEAL STATS #
Overall 3 of 11
Sector (Life Science) 2 of 5
Type (Growth Capital) 1 of 3
State (Florida) 1 of 3
Country (United States) 3 of 11
Year (2019) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-10-31 Catalyst Clinical Research

Wilmington, North Carolina, United States

Catalyst Clinical Research is a provider of staffing resources to the biotechnology, pharmaceutical and medical device companies for clinical trial needs. Catalyst Clinical Research was founded in 2013 and is based in Wilmington, North Carolina.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-08-04 Clinical Ink

Horsham, Pennsylvania, United States

Clinical Ink is a clinical technology company that offers data certainty from source to submission. The company's Lumenis eSource clinical technology and configurable direct data capture, eCOA, ePRO, and eConsent modules a suite of solutions for capturing and integrating electronic data from sites, clinicians, and patients at its source naturally enhances clinical trial workflow by reducing manual labor, providing anytime, anywhere data access, and saving resources as trials progress. Clinical Ink was founded in 2007 and is based in Horsham, Pennsylvania.

Buy -